Self-assessment test

[Aziz]

If the entrepreneurship bug has already bitten you, then before taking
a plunge, it would be worthwhile to wear your thinking cap and do a
bit of self-assessment. This will help you to determine whether you
have all the requisite qualities to become an entrepreneur. Ask
yourself the following questions:


Do I have the courage to take the initiative?
As an entrepreneur you would have to amass all the required resources
as capital, labor, land, etc. to kickstart your business venture. You
would have to organize yourself, manage your resources meticulously,
and painstakingly follow all the details to ensure the success of your
business.



How well can I get along with different people?
For the sake of the well-being of his business, a business owner has
to establish and maintain healthy relationship with a wide range of
people like bankers, lawyers, consultants, accountants, customers,
staff members, etc. All these people have varying personalities. An
astute entrepreneur is one who has a lot of patience and knack to
handle these people in the best interest of his business.


Do I have the ability to make sound decisions?

When you own a business venture, then you are expected to make
decisions from time to time. Decision-making is never an easy task. At
times, decisions have to be taken quickly, independently and under
pressure. Your decisions are important because they usually set the
future course of your enterprise. Therefore, you should have the
ability to make good decisions in a short duration of time.


Do I have the mental and physical stamina to run my business?
As the owner of your business, you would be working 24-hours a day, 7-
days a week and 365-days a year. Sometimes you would be the only one
working. Do you have the physical stamina to endure all the hardships?
Apart from physical stamina, some mental endurance is also required.
You would be at the head of things; therefore you would be expected to
be emotionally strong. You should have the ability to instill
confidence, professionalism, optimism and competitiveness in your co-
workers. You would have to learn to conceal your emotions, inhibitions
and apprehensions. Your passion and entrepreneurial spirit will
encourage your subordinates to work hard for the success of your
enterprise.


Do I have that entrepreneurial persistence?
Running a business is never an easy task. You are bound to stumble
over lots of obstacles like legal hassles, resource shortage, customer
dissatisfaction, colleague incorporation, etc. Here the never-give-up
attitude is required to root out all these obstacles.

If you have given a positive reply for each of the above questions,
then you can surely become an entrepreneur.

[skhanzada]

If someone is joining this group, he would already have gone through
such questions and some of them might have attempted some business at
different levels.

Nonetheless, good question list for some starters.

Shoaib