At GoForth Institute, we know all too well that a great idea doesn’t always translate into a great business. If you’re thinking of starting a small business, here are some questions to ask yourself:
- How well do I handle risk?
- How do I cope with stress?
- Do I have the support of my family and friends?
- Am I willing to work longer than usual to start my small business?
- Are my finances strong enough to support me if my small business doesn’t see income immediately?
- Do I have management or technical experience in a business similar to the business I want to start?
- How well do I lead or manage others?
- Do I have any accounting or bookkeeping knowledge?
- What is most important to me in running a small business – making money or doing what I love?
- How adaptable am I?
- How do I make difficult decisions?
- Do I have a long-term plan for my small business?
- Do I have a business model?
These are just some questions you need to ask yourself when thinking of starting a small business of your own. As you can see, a successful start-up business is much more than having a great idea. We cover this important topic of “entrepreneurial readiness” in the first module of our web-based video small business training, launching on April 15th.