Quick Check List-Are you ready?

#1: Is Entrepreneurship For You?

-There are no guarantees. There is simply no way to eliminate all the risks involved with starting a small business - but you can improve your chances of success with good solid planning, enduring preparation, and insight. Start by evaluating your strengths and weaknesses as a potential owner and manager of a small business. Carefully consider each of the following questions.

#2: How well do you plan and organize?

-Research has indicated that poor planning is responsible for most business failures. Good organization of financials, inventory, schedules and production can help you avoid many pitfalls. A good planner meets or exceeds standards for major responsibilities or objectives on time or ahead of schedule and maximizes organizational productivity.

#3: Are you a top notch decision maker?

-Small business owners are required to make decisions constantly - often quickly, independently, and under pressure. Are you willing to make sound decisions in the absence of detailed instructions? weigh alternative decisions before taking action? Are you that type of person?

#4: Do you have the physical/mental stamina to run a business?

-Business ownership can be exciting, but it's also exausting. Can you face 12-20-hour work days every day of the week when necessary? Running a business can wear you down emotionally. Some business owners burn out quickly from having to carry all the responsibility and burden for the success of their business on their own shoulders. Strong motivation will help you survive shutdowns and periods of burnout and fatigue.

#5: 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 a cranky receptionist if your business interests demand it? You must be diverse, communitative and willing to adjust to situations as they present themselves.