Before you spend several hours conducting market research and writing your business plan,
take a few minutes to decide if you have the necessary qualities to turn your good idea into a viable business.

Before you begin the quiz, ask yourself the following questions? Answer them honestly...

Personal Resources:

• Do I have the energy to tolerate long hours and concentrated effort?
• Do I have the self direction to work alone?
• Am I motivated enough to make the business succeed?
• Am I able to overcome possible setbacks, hurdles and pitfalls?
• Do I have techniques in place to control potential stress?
• Do I have the confidence to accept my failures and turn them into opportunities?
• Am I adaptable enough to keep up with the constantly changing environment of the economy and customer demands?
• How do I know I have these skills?

Life Style:

• Can I communicate my feelings and dreams positively to my family?
• Will I keep my family informed and involved?
• Will I be able to say no to holidays or leisure activities if necessary?
• Will those who go without me understand?
• Will I be able to maintain my personal and family life as well as run a business?
• How much time am I willing to devote to the business?
• How much time will the business actually require?
• Am I prepared to not have a personal life for some time?
• How much free time away from the business do I need to be happy?

Finances:

• Will I be able to budget my business expenses and stick to these limits?
• Do I understand financial statements and why they are important to me in running my business?
• Do I appreciate the importance of tracking and controlling expenses, inventory and debt?
• Are alternate sources of income available for living expenses?
• How much money will I need to make from the business to cover my personal expenses? Is this realistic? Is it enough?
• Am I realistic about household and life expenses and sources of income that can be depended on until the business is established?

Stability:

• Is my home life financially organized?
• Can the business income be secured from household demand?
• Am I healthy, with energy reserves, and emotionally prepared for the stresses that may accompany running a business?
• Does every family member appreciate my objectives and how important the business is to me?
• Do they support me?
• Will my home life remain stable if my business fails?

Professionalism:

• Am I willing and able to work long hours for future benefits?
• Am I realistic about how long success may take?
• Am I committed to making the business work?
• Are my planning skills and sense of responsibility strong enough to build a successful venture?
• Do I have the knowledge to make this particular business venture succeed, or should I be securing that knowledge first?
• Do I want the business success enough to set and keep high standards of products and service?

Now click the link below to take our quick quiz to see how you rate as an entrepreneur...

Entrepreneurial Self-Assessment Quiz