Many ares should be assessed. Self assessment can help one discover their strengths and weaknesses, pressing needs and overall readiness.
Below are some of the questions you can ask yourself:
- Am I willing to work long hours for a long time?
- Am I a self motivated person?
- Can I direct myself?
- Am I willing to take all the responsibility that goes with success and failure?
- How do I deal with failure, rejection and other repeated stresses over a long time?
- How is my health?
- What experience do I have with this type of business?
- Do I sufficiently understand what I am getting myself into?
- What are my business management skills like?
- How do I deal with ambiguity and uncertainty?
- What will family support be like?
- Do I have sources of advice?
- What is my appetite for sacrifice vs short term gains?
- What are my record keeping skills like?
- Do I pay attention to details?
- How do I deal with different types of people?
- What types of people will I have to deal with?
- What are my delegation skills?
- Can I be trusted?
- How willing am I to listen and accept feedback?
- How persistent am I and do I endure?
- How flexible am I and ready to adapt?
- What is my appetite for risk?
- Am I positive and optimistic?
It is unlikely that we will have everything it takes, but assessing early can identify areas for improvement or where we can seek help before they become a crisis.
Our own business is likely to be stressful and test us in many ways. We need to be honest with ourselves and be sure we are able to handle it, before getting ourselves and our investments into a situation which we may not be suited to at all.
Good questions but I want to ask you, How can we deal with failure, rejection and other repeated stresses?
plz bro @sme, tell some essential tools to deal with these common problems because I already suffered with failures in my own business though we (me & my partner) worked hard for almost two years & then we loose our hope & now we are deciding to quit this work, so I need your help & suggestions about it.
If you and your partner survived it emotionally then you have dealt with it. Reversals are inevitable in any venture and considering how we deal with it is really to access how well you mange stress over a long time.
If you can't manage long persistent stress then your own business is perhaps not for you or you must find help in that area.
Seems like you are also suffering from the same type of failure what I suffered a year ago.
Very basic questions we should ask ourselves before we start a business. I have an experience of a business & I quit it after a failure a year ago because it was forced by my father on me witout my own wish. I worked but I didn't like it so much and now I wanna start new business and your articles are really helping me to understand the nature of business and qualities necessary for it.
I hope your future ventures are successful when you can have your full, voluntary motivation and drive behind them.
Great questions! I would like to add a couple more:
Cheers!
Good ones
A well thought questions I have never thought of Or ask myself . Asking questions like these can really prepare me for what ever business venture I'm interested in. Thanks for sharing this with us. Infact i am going to screenshot this question for me to ponder over.
Great toughs!
Great points you focus on..
All good points. Might I add another one?
An important question too is, "Are you okay with possibly loosing it all and having to start over from scratch?" Failure is a very real possibility in any business. Although optimism and positivity are extremely important for success, one shouldn't be ignorant of the fact that over 90% of startups fail. The optimism is really for persisting through these tough times and trying again until you reach the successful 10%.
Hello I loved this post very interesting information, questions in a self-evaluation that would help us a lot to improve, I have failed many times in business and thanks to questions and reflections such as this post I have gone ahead and I have not fallen for more we can better evaluate where the error is found thanks for sharing friend
Its good informative post. The principals of business ;you mentioned in the post are helpful for the steemit community. To follow the above mentioned rules one can make progress and achieve the goals without a faluire. Thanks for posting.
so nice post for learner
Great points!! Even I wanna start a new venture after completing my degree... I'll definitely keep these questions in mind... Thanks for sharing @sme... :)
Good question but simple question
Self-awareness is really important to have, but once you figure out, that you are not happy working for someone else, it's time to consider taking that leap of faith.
Otherwise the regret of not taking it, would be much more dangerous in the long-run than a possible fail. 👍
good points
yaah that quality tips and i suggest eveyone know these tips before startup bussines or any things else!much appriciated
good quesions, upvoted :) .
but one point here; never expect to have good answers for all these questions. If you do so,you will never be able to start :) .
That is a comprehensive list of questions that at first can seem daunting. It certainly does to me. But then i suppose if you just take each in turn, one at a time and answer honestly then you are in an excellent position to develop your strengths and deal with your weaknesses?
amazing ...
thanks for sharing
good points freind
These are good, but the reason a lot of people don't start businesses is BECAUSE they question themselves. I've been kicking around the idea for 20 years. A lot of people I've met who run successful businesses just decided to commit and that's all they needed to see it through. The rest was details they could figure out along the way. And I'm talking about people I would have considered too dumb to really take on anything as complex as a business can be. They weren't distracted by options or doubts, they just did it.
So True, Great Point
The answer to all of these questions is success. But we are always faced with failure to respond
This is an interesting read, quite interesting and good content. Thanks.
I have one more:
What are the key performance indicators I will measure and adjust my approach to business be?
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Starting a company can be quite challenging, but if you invest enough energy into it and find the right people who are willing to fight for your cause it can be a very exciting adventure.
This is great to know, and we should be asking ourselves these questions each day.
This is very heart warming I love it, it came at just the right time. Thanks
Glad to have found your blog. You resonate with my vision to help people become entrepreneurs.
yes everything you said is true. business is not an easy one..you need to undergo and examine the business im different factors. I am studying for franchising now,yet not ready since I am in the studying process. Thank you
Good
Having a good start to the day where you have greater control is critical in achieving better results, and ultimately greater career success. :D Great Post @sme
will love it if the points are explained in details.will need it for my new class
I agree with you in a lot of the considerations that you mention but one never really knows how something like this is going to go until you try. I started my own business right after high school and had no idea what I was doing but was able to learn things through trial and error. I think the biggest hurdle people have in starting their own business is just taking the first step and doing it.
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That last question, means alot. Positivity being positive and optimistic can go a long way in you starting a business. My optimism was low when I dive into solar system engineering, my wife had to help with my positivity when I applied for a contract last year. Didn't get it but am positive and optimistic I would get one soon
Hi There. I just have to say that you are quite spot on. I am an owner of 2 small bushiness and you know what, sometimes my normal is feeling like losing my head.I have learned to compartmentalize and focus on specific tasks at specific times of day to complete an overall task / tasks at hand. You really get to know yourself while running your own business. The upside for me was realizing i had much more capabilities than i knew i had before.
MOST IMPORTANT RULE OF BUSINESS : REMEMBER WHERE YOU CAME FROM.