3 Signs It’s Time to Start Your Own Business in 2024

Are you feeling frustrated with your job and hoping for something better in your career?

You know you deserve a healthier work-life balance and to be respected and appreciated for your work. People have been telling you this for a long time, but you may lack the motivation to start a business and become a freelancer or even start your own startup.

If you’re still weighing the costs and benefits of being employed versus self-employed, here are some signs to look out for that usually indicate you need to take at least the first step toward quitting your job and starting your own business:

1. Frustration due to lack of innovation and creativity

Some people, like Los Angeles-based AI and technology entrepreneur Dieter Hsiao, are leaving their jobs to start their own businesses because they believe their current situation is limiting growth and creativity.

“I decided to start my side business, DIVISA, a strategy consulting firm, in 2008 during the financial crisis,” Hsiao recalls. “After more than a decade working for large corporations, I was frustrated by the lack of innovation and vision. DIVISA officially launched in 2009, and the company has grown steadily by delivering impact to its clients. The flexibility of running my own company allowed me to invest in growth areas like e-commerce and emerging technology. DIVISA now works with big brands and VC-backed startups across a variety of industries,” he continues.

Hsiao was able to fully develop his creative thinking as an entrepreneur and has not regretted his decision since.

“Key to our success has been staying ahead of trends and building strong relationships,” he says. “We’ve developed innovative AI and analytics strategies before anyone else. By understanding the challenges and opportunities of e-commerce, we’ve helped brands scale and improve their customer experiences. DIVISA’s success has given us the freedom to explore new territory and work with forward-thinking clients, which fuels our ongoing passion for growth.”

When asked what advice he would give to others who, like him, are feeling frustrated in their current job, Hsiao replied:

“Starting a side business is hard, but focusing on purpose and values ​​can pay off big. At DIVISA, our goal is to use strategy and technology to accelerate business growth in a sustainable way. By aligning our work with purpose, we’ve built a company culture focused on innovation.”

If you notice that you have a lot of ideas, but you are the only one who initiates them, and your ideas are not accepted or at least considered, but rejected or rejected, then it is high time to think about using this wisdom elsewhere and expanding your own empire.

2. Observing a need that your employer can’t/won’t meet

Working for an employer can be a helpful boost for any future entrepreneurial ventures, not only because of the funding aspect, but also because your experience there provides you with ideas for ways to fill a unique gap in the market. With your in-depth knowledge and role within the company, you are in a unique position to understand the market and your industry inside and out and use that knowledge to your advantage.

Take Courtney Zalesak, for example. The Texas entrepreneur decided to start her own side business, Home Service Amplifier, in 2015 after more than 15 years of managing HVAC and plumbing companies.

“I recognized the need to help other home service business owners scale their business through digital marketing,” she says. “Home Service Amplifier officially launched in 2016, and since then we’ve worked with hundreds of contractors to strengthen their online presence.

“The flexibility of running my own business has allowed me to stay on top of marketing trends and tailor solutions to each client’s unique needs. Our specialized experience in the home services industry gives us a competitive advantage; we understand pain points and can develop strategies that actually get results.

“By focusing on lead generation through social media, PPC and SEO, our clients have increased sales, streamlined operations and increased brand awareness.”

Zalesak believes that while growing her business as a side hustle wasn’t easy at first, the opportunity to support other entrepreneurs while having the freedom to innovate based on their needs fuels her passion and success today.

3. When you have no other choice

Another sign that it’s time to start your own business—even if it starts as a side hustle—is when circumstances dictate that you have no other choice. It may not be what you really want to hear, but have you ever stopped for a moment to consider that maybe the reason you Still Are you unemployed after months or even years of waiting for a job offer and desperately applying at every opportunity? Maybe because working for someone else no longer suits you?

Have you ever considered that life has its stages and perhaps you are at a point where employers say “no” to your job applications and you feel motivated by their rejections to use your skills elsewhere and say “yes” to yourself for a change?

Sometimes we have to be pushed to the wall before we realize that we are not where we need to be, and that we are pushing and shoving open doors of opportunity when in fact another door is already open somewhere else.

So if you feel like your creativity and problem-solving initiative are being stifled at work, recognize that there’s a niche in the market that you can fill in a unique way, or you have to deal with rejection emails flooding your inbox every day. This could be a sign that you should start your own business or become a freelancer.

It certainly won’t be easy, but at least you’ll have peace of mind knowing you’re following your passion and making your dreams come true — without any inhibitions.