Questioning Yourself Before Opening Your Own Business
by William Payne on March 7th, 2008
With rough economic times and layoffs, more and more Americans are asking themselves if they have what it takes to go into business for themselves. Being the owner of a small business holds many challenges, not the least of which is the entrepreneur. Before opening up a small business, ask yourself these questions to see if you have the characteristics it takes to operate a business as a sole proprietor.
Does the idea cause you anxiety?
If you say no, you may lack the self-motivation to go out and do whatever it takes to get the business going. Fear is a primal motivator, and being overconfident that business will beat its way to your door can kill a small business.
Are you overflowing with self-confidence?
If you lack self-confidence, the anxiety of potential failure could overcome your objectives. Fear of failure is common, and a business owner who cannot overcome their fear can quickly become paralyzed by a lack of confidence in himself or herself.
In your jobs, were you the person always questioning the status quo?
A business owner has to always be looking for ways to improve their business – and willing to make changes and take chances that a new way may be better than familiar methods for getting jobs accomplished or achieving goals.
Do you have what it takes to make the business a success?
Your business idea may seem like the next whiz-bang sure thing – but are you ready to be the salesman, the bookkeeper, the marketing director, and the installation technician? The owner of a small business must be ready to wear all the hats that you find in a big business.
Does reporting to someone else ruffle your feathers?
It might be time to spend some money and take aptitude and attitude assessments. It could turn out that you should have been working for yourself all along.
Could you go door-to-door selling vacuum cleaners?
A small business owner has to be able to sell – either themselves, their services or their product. The attitude "I’m not a salesman" needs to be abandoned immediately, or failure is assured.