SMALL BUSINESS RESOURCE GUIDE
(Start-Up Kit: No Local Information Included)
IS ENTREPRENEURSHIP FOR YOU?
There is no way to eliminate all the risks associated with starting a small business. However, you can
improve your chances of success with good planning and preparation. A good starting place is to
evaluate your strengths and weaknesses as the owner and manager of a small business. 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? Business owners need to develop working
relationships with a variety of people including customers, vendors, staff, bankers and professionals
such as lawyers, accountants or consultants. Can you deal with a demanding client, an unreliable
vendor or cranky staff person 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? Business ownership can be
challenging, fun and exciting. But it's also a lot of work. Can you face 12-hour work days six or seven
days a week?
How well do you plan and organize? Research indicates that many business failures could have been
avoided through better planning. Good organization - of financials, inventory, schedules, production -
can help avoid many pitfalls.
Is your drive strong enough to maintain your motivation? Running a business can wear you down.
Some business owners feel burned out by having to carry all the responsibility on their shoulders.
Strong motivation can make the business succeed and will help you survive slowdowns as well as
periods of burnout.
How will the business affect your family? The first few years of business start-up can be hard on family
life. The strain of an unsupportive spouse may be hard to balance against