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Should You Start a Business?

A common concern among prospective entrepreneurs is whether they have the right personalities, characteristics or skills necessary to own and run a small business. The good news is that there's no definitive formula for what makes a person well-suited to being an entrepreneur. Still, it is true that most successful entrepreneurs do tend to share certain characteristics.

The following quiz will help you evaluate whether starting a business fits well with your personality and skills. Use it to explore your "business fitness," but remember it is just a rough guide. Most successful entrepreneurs have weaknesses or gaps in one or more areas—the trick is to recognize these gaps early and either acquire those skills or work with other people who can fill them.

To take the quiz, simply answer every question "Yes" or "No." Each question is currently answered "No" by default; you can change the answers back and forth from "Yes" to "No" as often as you like.

Self Analysis Quiz

Personal Characteristics

1. Are you a leader?

2. Do you like to do things your own way?

3. Do others turn to you for help in making decisions?

4. Do you enjoy competition?

5. Do you have persistence and self-discipline?

6. Do you plan ahead?

7. Do you tend to get along with people?

8. Do you consider yourself a risk taker?

9. Are you motivated by the independence of being your own boss?

10. Do you examine mistakes and learn from them?

11. Do you like to be in control?

12. Do you have a strong personal need to succeed?

13. Do you enjoy experimenting with new and different ideas?

14. Do you see problems as challenges?

15. Are you likely to gamble on a good idea even if it isn't a sure thing?

Personal Conditions, Skills and Experiences

1. 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?

2. Do you have the physical and emotional strength to handle the workload and schedule?

3. Are you prepared, if needed, to temporarily lower your standard of living until your business is firmly established?

4. Is your family prepared to go along with the strains they too may bear?

5. Are you prepared to use your savings if necessary?

6. Do you know what basic skills you will need in order to have a successful business?

7. Do you possess those skills?

8. Have you ever worked in a business similar to the one you want to start?

9. Have you had any business training in school?

10. If you discover you don't have the basic skills needed for your business, are you willing to delay your plans until you've acquired the necessary skills?