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Stephen Bittel Entrepreneurship

The Questions to Ask Yourself Before Pursuing Entrepreneurship

THRIVE GLOBAL — NOVEMBER 17, 2020 — When I was 23 years old, I found myself at a crossroads in my short life. I had grown up assuming that like my father and grandfather before me I would become a lawyer, but when I was in my second year of law school a new opportunity presented itself to me. Never one to take a day off, I had also taken a full-time job at a real estate company, and my boss there suggested that he would be willing to move me from a salaried position to one based on commission, therefore allowing me to make much more money. However, the gears in my head began turning, and I realized that if I were to form my own real estate company I could see even greater returns, and I believed I had the connections to make the business viable. My path had been set before me for as long as I could remember, but this new and exciting opportunity was calling its siren song to me. What was I going to do?

Fast forward 40 years, and my company Terranova Corporation has become one of the top commercial real estate firms in southern Florida. I ended up quitting my real estate job and starting the company out of my newly purchased first home – while also saving for marrying my fiance and completing my law degree. Although it wasn’t always easy, with hurdles to overcome from real estate recessions to changing markets, I am confident that pursuing entrepreneurship was the right path for me. 

I’m not here to say everybody should quit their jobs and become entrepreneurs. It’s not an easy road, and I would say it is an unwise path to start down it if you are risk-averse, if juggling many roles doesn’t suit you, and unless you have a keenness that will help see you through the rough patches. This is not a decision to be made lightly, and below are some of the most important questions I have found need to be asked if you want to not only pursue entrepreneurship, but also succeed in it.