Is Self-Employment for You?
Do you think business-minded people are born, not made? Do you think people either have the savvy to be self-employed - or they don't?
Lots of people would say yes - but they're not always right.
Sure, many successful business people have similar personal characteristics. Examples are self-discipline or the ability to make effective decisions.
Most people, though, can learn how to function in those same ways. Especially if your motivation to run your own business is strong, you can learn to behave in ways to make you successful.
Analyze Yourself
Before you plan a new business, answer yes or no to these questions. Pay attention to any "no" answers. They'll show you what you still need to learn.
"No" answers may also tell you to slow down and do more research on your business ideas - and yourself - before taking any action.
Please Print
| Yes | No | |
| o | o | Do you like to initiate things without waiting to be told? |
| o | o | Are you well organized? |
| o | o | Do you plan in advance? |
| o | o | Can you make quick, independent decisions? |
| o | o | Can you get along with all sorts of people, including critical or ornery ones? |
| o | o | Can you work - at least at first - 12 or more hours a day, almost every day of the week? |
| o | o | Can you stand uncertainty while you find out if a business idea is working or not? |
| o | o | Can you tolerate setbacks that make you regroup or begin again? |
| o | o | Are you and your family willing to risk or lose some money, or lower your living standards for a while - if you need to for the business? |
Learn Self-Employment Behavior
To increase your chances of behaving - and feeling - like successful small business people do, take these three actions:
- Learn about other people's small business experience. Try
to find people who seem like you, or who have businesses similar
to the one you're dreaming of. Read about such folks in books
or online. Ask your local community college or SCORE chapter for
contacts. SCORE is a nonprofit association that provides free,
confidential business counseling, face-to-face or by
e-mail.
Ask loads of questions. How do you feel after learning more? Still interested? Or more cautious? Feeling cautious is fine. It can push you to prepare better for success.
- Practice creative thinking. Ask your local librarian for
suggestions of the most popular creative-thinking videos and
books. We're all more creative than we usually realize. Come
up with some variants of your business idea. Even brainstorming
with yourself can stimulate business ideas.
- Learn some business planning skills before you actually take any risks or business start-up actions. How comfortable are you with the technical business information you're learning? Does doing a business plan sound possible, or overwhelming? Check your feelings again. Still excited? Do you want to move forward? Feeling more cautious than ever may be a good sign. Maybe you're ready to sign up for another course, or talk to a small-business adviser.
Additional Resources
Do You Have What It Takes?
The U.S. Small Business Administration shows what traits
entrepreneurs have, and can learn.
Entrepreneurship
- An Alternate Career Choice
Get inspired by these tips from SCORE, "Counselors to
America's Small Business."
Self-Evaluation -
Entrepreneurial Aptitude
The Small Business Advisor Web site helps you decide if you have,
or can improve, qualities to run your own business.
