If you are fed up with working for someone else, you have likely considered becoming your own boss and controlling your career's destiny. Starting a business requires hard work and relentless motivation. So before you dive in to this life-changing decision, make sure you're ready. Take this quiz to determine if you've got what it takes to be your own boss.
Answer "yes" or "no" for each of the following questions. When finished, give yourself two points for every "yes," and zero points for every "no." An evaluation of your score follows the quiz.
1. Can you work irregular, long hours and weekends to make a great start?
2. Do you have enough capital to support you and your business through the start-up phase?
3. Are you passionate about the business you are thinking of starting?
4. Do you have outside support from an advisor or mentor with business expertise?
5. Have you studied the demand for your business and calculated the sales potential?
0-3: Work on it. If you don't have the business basics - the financing to get started, the time to give it your all, the passion and motivation to overcome the obstacles along the way and support from an advisor or mentor - you may not be ready to start a business. Work on acquiring the basics before heading out on your own.
4-6: Proceed with caution. You are motivated and eager to get started. With a little more careful planning, you will be all set to be your own boss. You may be set to work long, hard hours, but don't make the mistake of thinking you can do it all alone. Advice from a mentor will prove to be invaluable as you start your new endeavor.
7-10: You have the right stuff! You are as ready as you'll ever be. Plan carefully and visit a Service Corps of Retired Executives counselor for assistance. Welcome to the world of the business owner. Good luck!
Copyright 1999 Service Corps of Retired Executives (SCORE). All rights reserved.