Is
Entrepreneurship For You?
There is no way to eliminate all the risks associated
with starting a small business. However, you can improve
your chances of success with good planning and
preparation. A good starting place is to evaluate your
strengths and weaknesses as the owner and manager of a
small business. Carefully consider each of the following
questions.
Are you a self-starter?
It will be up to you - not someone else telling you to
develop projects, organize your time and follow through
on details.
How well do you get along with different
personalities?
Business owners need to develop working relationships
with a variety of people including customers, vendors,
staff, bankers and professionals such as lawyers,
accountants or consultants. Can you deal with a
demanding client, an unreliable vendor or cranky staff
person in the best interest of your business?
How good are you at making decisions?
Small business owners are required to make decisions
constantly, often quickly, under pressure, and
independently.
Do you have the physical and emotional stamina to run
a business?
Business ownership can be challenging, fun and exciting.
But it's also a lot of work. Can you face 12hour work
days six or seven days a week?
How well do you plan and organize?
Research indicates that many business failures could
have been avoided through better planning. Good
organization of financials, inventory, schedules,
production can help avoid many pitfalls.
