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Do You Have What It Takes To Be Self-Employed?
By Jennifer S. Croft

So you think you want to run your own small business… do you have what it takes to be successful?

The beauty of self-employment is that you don’t have to have a Master’s Degree from an elite business school or even an Associate’s Degree from a local community college. You don’t need to have access to a giant line of credit or even $5,000 in the bank to take the plunge.

This is America! You can start any kind of business you want, any time you want. Keep it simple, and you can start tomorrow.

There are, however, certain traits that most thriving entrepreneurs share. Take the following short assessment test and see how you compare.

Please note: As you answer each question, do it quickly. Don’t give any question too much thought, just go with your first, gut-level reaction. Answer with a “yes,” a “no,” or a “?” and at the end of the 25 questions, you’ll see how to score yourself.

Self-Employment Assessment Test

1.	_____	Are you a quick learner?
2.	_____	Are you self-motivated?
3.	_____	Are you healthy – emotionally and physically?
4.	_____	Do you possess an extra amount of common sense?
5.	_____	Do you love to learn new tasks and ideas?
6.	_____	Do you have a high tolerance for risk?
7.	_____	Do you enjoy doing sales?
8.	_____	Do you constantly like to meet new people?
9.	_____	Can you juggle multiple tasks and responsibilities at the same time?
10.	_____	Do you regularly set and accomplish personal goals?
11.	_____	Are you willing to sell your product or service?
12.	_____	Do you have a spouse or friend who will take an interest in the business?
13.	_____	Can you live with high levels of uncertainty?
14.	_____	Are you resilient?
15.	_____	Do you make good decisions quickly?
16.	_____	Are you good with money?
17.	_____	Do you love to work?
18.	_____	Do you thrive on competition?
19.	_____	Do you have will-power and self-discipline?
20.	_____	Are you a good leader?
21.	_____	Do you get things done on time?
22.	_____	Can you live without an income until your business reaches breakeven?
23.	_____	Do you have skills and passion for the business you’re considering?
24.	_____	Are you resourceful?
25.	_____	Are you willing and prepared to work long hours in the beginning?

Scoring The Test
To score your readiness, give yourself a point for every “yes” and a half-point for every question mark. A “no” answer counts as a zero.

Total up your score, and see how you stack up. For the best chances of success, ideally, your score will be 20 or more, but there’s no empirical formula.

What To Do Next
Instead of focusing on the overall score, go back and look at the questions that prompted uncertainty or a negative response. These will determine what type of business you should start and how you’ll compensate for your shortcomings.

For instance, if you responded that you’re not a good leader, you’d be better off starting a business that won’t require hiring employees; or if you know you’re not good with money, you’ll need to partner with someone who is or hire a bookkeeper and meet on a weekly or monthly basis.

If you don’t like sales, don’t open a business that requires a constant sales effort; and if you don’t have a high tolerance for risk, don’t venture into something risky.

If you don’t make good decisions quickly, don’t make decisions quickly – slow down and take your time; and if you can’t live without income for an extended period of time, choose a business that will produce income immediately or start one in your spare time.

Simple Biz Planning, Inc.
PO Box 144
Castle Rock, CO 80104
303-587-6284
Fax 303-600-9559
Info@SimpleBizPlanning.com