Do I have what it takes?

ResearchDo I have what it takes?

Consider each situation below and determine if is it a strength or weakness when starting and owning a business. If any of your situations below are weaknesses, it doesn’t necessarily mean you shouldn’t go into business for yourself. Being aware of your strengths and weaknesses gives you an opportunity to use them to your advantage and not be blindsided by unexpected events.

  • your personality type
  • your work habits
  • your business skills (sales, marketing, computer, management, negotiating)
  • your emotional disposition
  • your health
  • your family
  • your financial situation

Ask yourself

  • Do you have the physical stamina to work 12-16 hour days and on the weekends?
  • Are you willing to lower your standard of living should your business take a down turn or take longer to grow?
  • Do you have the emotional strength to deal with the pressure of unpredictable income?
  • Is your family prepared to endure the strains of self-employment?
  • Do you have a “Plan B” in case there is no business revenue and you need money for living expenses?

Complete a few of these assessment questionnaires to see how ready you are to start your business.

SBA 20 Questions

CNN Money Questionnaire

Legal Zoom Quiz: Are You Ready To Start a Business in 2016?

Other good articles about starting a business:

Managing a Small Business

15 Signs You Might Be Ready To Start Your Own Business

Are You Ready to Start Your Own Business?

50 Signs You Might Be An Entrepreneur