Checklist: Is starting a business for you?

Deciding to start your own business is one of the biggest decisions you will have to make. This checklist from the Small Business Guide reveals the questions you need to ask yourself before you take the plunge.

Underline the word in each answer which best describes how you fit each question. You can also ask friends, colleagues or relatives to fill in the checklist about you, so that you can obtain an external view of your character and fitness for self-employment.

1. Can you work long hours?
(1) Always (2) Sometimes (3) Occasionally (4) Never

2. Do you have persistence and stamina?
(1) Always (2) Most of the time (3) Occasionally (4) Rarely

3. Is this business more important than, for example, leisure or family?
(1) Completely (2) Much more (3) As important (4) Less important

4. If the business struggled for five year, would you keep going?
(1) Yes, easily (2) Yes, fairly easily (3) Yes, with difficulty (4) No

5. Is financial success your main guide to what you have achieved?
(1) Completely (2) Mainly (3) Partially (4) Not at all

6. Are you thought of as a survivor?
(1) Always (2) Usually (3) Occasionally (4) Never

7. If you were in a tight corner, would you be able to come up with an original way out?
(1) Frequently (2) Sometimes (3) Rarely (4) Never

8. Do you keep going until a task is completed?
(1) Always (2) Usually (3) Sometimes (4) Occasionally

9. Are problems a challenge?
(1) Always (2) Usually (3) Sometimes (4) Never

10. Can you live with insecurity about job and income?
(1) Yes, easily (2) Yes, fairly easily (3) Yes, with difficulty (4) No

11. Are you self-confident?
(1) Yes, always (2) Yes, usually (3) Sometimes lack confidence (4) No

12. How do you view failure?
(1) Opportunity (2) A disappointment (3) A setback (4) A disaster
to learn

13. Can you take criticism?
(1) Always listen; (2) Always accept (3) Don’t like it (4) Always reject
may reject

14. Do you ask for comments on your performance so that you can do something better next time?
(1) Always (2) Usually (3) Sometimes (4) Rarely

15. Do you believe your success will be dependent on outside factors?
(1) Strongly (2) Disagree (3) Agree sometimes (4) Agree always

16. Do you like being the leader in situations where you can be assessed?
(1) Very much (2) Quite a lot (3) Not really (4) Not at all

17. Are you good at finding the right person or source to help you achieve what you want?
(1) Very good (2) Quite good (3) Not very good (4) Poor
18. Do you recognise when you need help?
(1) Always (2) Usually (3) Sometimes (4) No

19. Do you set your own high standards to compete against?
(1) Always (2) Usually (3) Sometimes (4) No

20. In the past, which sort of risks have you preferred taking?
(1) Calculated (2) High risks (3) Low risks (4) Seldom take risks

21. Can you identify which decisions are important and which not?
(1) Yes, always (2) Yes, usually (3) Yes, sometimes (4) No

22. Can you delegate to others?
(1) Yes, when (2) Yes, sometimes (3) With difficulty (4) No

23. How is your health?
(1) Very good (2) Good (3) Quite good (4) Poor

When you have completed the checklist, look at the pattern of underlined words. The more underlined answers 1 and 2, the greater your probable success as a business owner.

Related Topics

Starting a business

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