DSNWK's Role | Getting Started | Questions | Business Plan |Location/Contacts | Individual Businesses
Is Owning A Business Right for You?
Evaluating your strengths and weaknesses as the owner and manager of a small business is a great way to know whether owning your own business is right for you. Carefully consider each of the following questions.
Are you a self-starter?
It will be up to you - not someone else telling you - to develop projects, organize your time and follow through on details.
How well do you get along with different personalities?
You will need to develop working relationships with a variety of people including customers, vendors, staff, and professionals. Can you deal with a demanding client, an unreliable vendor, or staff giving feedback in the best interest of your business?
How good are you at making decisions?
Small business owners are required to make decisions constantly, often quickly, under pressure, and independently.
Do you have the physical and emotional stamina to run a business?
Running a business can wear you down. Some business owners feel burned out by carrying all the responsibility on their shoulders. Organizational skills in finance, inventory, schedules, and production can help avoid many pitfalls.
How will the business affect your family?
The first few years of start-up can be hard on family life. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk.