[This post originally appeared on Entrepreneur.com.]
Today, I want to say something a little controversial: The business you are building may be the wrong one.
Yes, I know you’ve spent hundreds or thousands of hours on it. But, I’m here to tell you that it might be the wrong business for you. As the famous quote from Stephen Covey goes, “If the ladder is not leaning against the right wall, every step we take just gets us to the wrong place faster.” So, how do you know if your idea is heading up the ladder on the right wall?
Do you simply start climbing and see what happens? I don’t believe so. Not only will you be wasting years of your life that way, but you’ll wear yourself out in the process.
So, here are the three vital questions every entrepreneur should ask about the business he or she is trying to build. If you ask them of yourself, and then answer them honestly, you’ll be sure that you’re climbing the right ladder.
1. Do I want to be doing this in ten years?
Remember the first few months of your last girlfriend or boyfriend? The fun, the excitement, the giggles? This is often known as the “honeymoon phase” and it’s great but it’s not real.
What’s real is the life that comes after the honeymoon phase, when emotion is not the driving force that makes or breaks the relationship. The same is true for business ventures. Every business is exciting in the beginning, but let’s be honest: None of it is real. The feeling won’t last.
Related: What the Classic “3 Little Pigs” Fable Can Teach Us About Building a Business
Many people start businesses because they believe they’ll become rich. And, truth be told, many businesses do make their owners wealthy. But what most wannabe entrepreneurs fail to grasp is the absurd amount of time between starting a business and exiting that business. It’s usually not six months or a year. It’s more like a decade, or longer.
(Click to read on BiggerPockets…)
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