Entrepreneurial Self Assessment
Going into business requires certain personal characteristics. This portion of the checklist deals with you, the individual. These questions require serious thought. Try to be objective.
Personal Characteristics
- Are you a leader?
- Do you like to make your own decisions?
- Do others turn to you for help in making decisions?
- Do you enjoy competition?
- Do you have will power and self discipline?
- Do you plan ahead?
- Do you like people?
- Do you get along well with others?
Personal Conditions
This next group of questions though brief is vitally important to the success of your plan. It covers the physical emotional and financial strains you will encounter in starting a new business.
- Are you aware that running your own business may require working 12-16 hours a day six days a week and maybe even Sundays and holidays?
- Do you have the physical stamina to handle the workload and schedule?
- Do you have the emotional strength to withstand the strain?
- Are you prepared if needed to temporarily lower your standard of living until your business is firmly established?
- Is your family prepared to go along with the strains they too must bear?
- Are you prepared to lose your savings?
- Are you prepared to sacrifice your time?
