You’ve always wanted to be an entrepreneur, but you wonder if you have what it takes to succeed. Discover if you have the mindset of an entrepreneur with this assessment from the Small Business Administration. Not only will it help you evaluate your readiness, but it also will help you identify if you have the personality, characteristics and skills to go out on your own.
Questions to Ask Yourself:
Have you ever worked in a business similar to what you are planning to start?
Would people who know you say you are well-suited to be self-employed?
Do you have support for your business idea from your family and friends?
Have you ever taken a course or seminar on starting and managing a small business?
Have you discussed your business idea, business plan or proposed business with a business coach or counselor, such as a faculty advisor, SCORE counselor, Small Business Development Center counselor or other economic advisor?
Do you have a relative, friend or mentor who is an entrepreneur?
Evaluate Your Personality Characteristics: The more questions you answer favorably, the more prepared you are mentally to begin.
Are you a self-promoter?
Are you a self-starter?
Do you plan and organize well?
Can you handle pressure?
Are you comfortable with risk?
Are you physically healthy?
Can you work with opposite personalities?
Are you passionate about your product or service?
Is your drive strong enough?
Are you encouraged by setbacks/challenges?
Are you competitive?
Are you optimistic?
Can you handle criticism well?
Are you patient?
Are you decisive?
Have you considered how the business will impact your family and if you have their support?
Trait Similarities of Successful Entrepreneurs How many traits do you have?
Desire for immediate feedback
Strong drive to achieve
High energy level
Calculated risk taker
Problem solving skills
Tolerance for ambiguity
Ability to consolidate resources
Strong management and organizational skills
Tolerance for failure
Desire to work hard