Assessing Your Entrepreneurial Potential

Are you READY to start your own business?

Before jumping onto your new entrepreneurial journey and starting your new business venture, it is always important to spend some time assessing your own personality traits and determine whether or not starting or running a business is a good option for you. It’s also good to assess what skill sets you already have (strengths), what skill sets you are lacking (weaknesses), what aspects of your skills you need to improve on (opportunities) and what personal aspects might affect your success or that of your business. These may include individual skills, experiences and abilities that are necessary to perform a role, start, run and grow your business.

Below you will find a few questions that will provide you with some information on entrepreneurial traits. We encourage you to spend some time to read and understand each question and give yourself a truthful answer. As you can see the questions are ranked as follows: 3 if you always think that way, a 2 if you sometimes think that way and a 1 if you never think that way.

I have the knowledge, skills and experience needed to help make this business work or be successful
I usually come up with ideas of how things can be improved or a new way of doing something
I am aware of the demands of running my own business and also understand personal sacrifices needed when starting a new business
I am aware of the financial risks and sacrifices that maybe associated with starting a business