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.