So you’re thinking of opening your own business – starting a bed and breakfast, opening a restaurant, or setting up a local grocery store. Before you set off on your entrepreneurial journey, there are certain things you need to think about and get sorted out. First of all, you need to assess yourself.
You need to be very honest with your self-appraisal. Successful small-business entrepreneurs drive themselves; no one needs to prod them. Successful small-business owners have an exemplary work ethic and are not afraid to work hard. They don’t just work hard physically; they work with a focus on every task they undertake and are driven to succeed. Do you?
Circle the number that fits your personality:
1: I agree; this defines me and my situation. 3: Neutral. 5: This is definitely not me.
1. I am a risk taker. 1 2 3 4 5
2. I am self-motivated and a hard worker; I don’t need anyone to lead me. 1 2 3 4 5
3. I am a leader and motivator to others. 1 2 3 4 5
4. I am extremely adept at my specific field of expertise. 1 2 3 4 5
5. I can sell myself, my expertise, my products, and/or my services. 1 2 3 4 5
6. I am an excellent accountant, financial and cost analyst, and office organizer. 1 2 3 4 5
7. I am extremely responsible and reliable in all aspects of my life. 1 2 3 4 5
8. I am prepared to undertake a life-changing commitment to become a small-business entrepreneur. 1 2 3 4 5
9. I am motivated by money and I want to make a lot of it. 1 2 3 4 5
10. I am prepared for the challenges and heartaches that small-business entrepreneurs inevitably encounter. 1 2 3 4 5
10 to 20: You could make an excellent small-business entrepreneur.
21 to 30: You may want to reconsider becoming a small-business entrepreneur.
31 to 50: Spruce up your résumé and apply for jobs to become an employee.
How did you score? Does it sound like entrepreneurship is the right path for you? It certainly is an exciting path to take, but it can also be a treacherous one if you don’t know what to expect. There will be many challenges and heartaches on the way. Make sure you know what to expect, and how to prepare for it. You can pick up a copy of Avoid Small-Business Hell by Jack Borden to get you started. In his book, Jack Borden shows you how to navigate the treacherous route to a successful business. The book is available through our website, Amazon, and in better bookstores in Canada and the US.