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This section of your checklist deals with you the individual; your personal characteristics. Take your time and think about each of these questions and try to be objective. Remember, it's your future.
  • Are you a leader?
  • Do you like to make your own decisions?
  • Do others turn to you for help in making decisions?
  • Do you enjoy competition?
  • Do you have will power and self discipline?
  • Do you plan ahead?
  • Do you like people?
  • Do you get along well with others?
Now let's evaluate your personal conditions; the physical, emotional and financial strains you will encounter with your new business.
  • Are you aware that running your own business may required working 12 - 16 hours a day, six days a week, and maybe even Sundays and Holidays?
  • Do you have the physical stamina to handle the workload and schedule?
  • Do you have the emotional strength to withstand the strain?
  • Are you prepared, if needed, to temporarily lower your standard of living until your business is firmly established?
  • Is your family prepared to go along with the strains they too must bear?
  • Are you prepared to lose your savings?
Certain skills and experience are also critical ingredients in determining the success of your venture. Not only must you possess certain skills you must also have the ability to hire people for those jobs where you lack the skill or experience to perform. Answering the following questions will help you to identify your strengths and weaknesses:
  • Do you know what basic skills you will need in order to have a successful business?
  • Do you possess these skills?
  • When hiring personnel, will you be able to determine if the applicants' skills meet the requirements for the positions you are filling?
  • Have you ever worked in a managerial or supervisory position?
  • Have you ever worked in a business similar to the one you want to start?
  • Have you had any business training in school?
  • If you discover you don't have the basic skills needed for your business, will you be willing to delay your plans until you have acquired the necessary skills?
Would you like more information about starting your own business? Contact your local SCORE office for an appointment and request a copy of their "Checklist for Going Into Business".
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