Reality Check

The following checklist will suggest what to look for in yourself to improve your chances for success.

  1. 1. Do I have a burning desire to be ‘on my own’?

    Most entrepreneurs have a strong inner drive to strike out on their own. They like the idea of being their own boss and not having to report to anyone.

  2. Am I confident that I can succeed?

    Successful entrepreneurs believe in themselves. They are optimistic about projects they undertake, and are good at motivating others and sharing their enthusiasm when pursuing goals.

  3. Am I willing to take calculated and moderate risks?

    Going into business involves taking a chance. You may have to push yourself beyond what is comfortable for you and try new things. Successful business people are willing to take risks, but they are also realistic. They gather as much information and support as possible before making a move. In this way, they build a safety net for themselves and decrease the amount of risk involved.

  4. Am I a self-starter?

    Successful entrepreneurs believe that what happens in life usually depends on themselves. They are often described as ?internal? people who choose to do something based on their own interests and views. Because they believe that they control their own destiny, they refuse to be at the mercy of others or of events. As a result, they take the initiative in starting projects and getting ideas off the ground.

  5. Am I able to set long-term goals? Can I stick with them?

    Even if I’m faced with a difficult problem or situation?Successful business people are patient and determined. They have the ability to work toward a goal, delaying rewards until a future time, and persist even in difficult times. They understand that it takes time to build success – sometimes years.

  6. Do I believe that money is the best measure of success?

    If your only reason for going into business is to make money, it may not be enough to make you a success. The desire for money is not a prime motivation for most successful business people. Rather, they want personal fulfilment and enjoy doing their best. While money is important to them, it is a means to do more and not simply a way to gain wealth and prestige.

  7. Am I creative? Am I always looking for new approaches and ideas? Am I innovative?

    Entrepreneurs often have many ideas and a great capacity to dream up and carry out projects. They are highly motivated by their desire to innovate or to bring their own approach to doing things. Never satisfied or content, they believe there is always a better way to get a job done.

  8. Am I good at making decisions?Are my decisions generally sound?

    Successful business people tend to be comfortable making their own decisions.

  9. Am I willing to market my product or service?

    Successful business people do not believe the old saying ‘Build a better mousetrap and the world will beat a path to your door.’ They know that proper marketing is critical to business performance. They advise you must sell, sell, sell.

  10. Am I a good organizer? Do I pay attention to details?

    Conducting a successful business requires organizational skills and competence. As a small business owner, you are your own boss. Since there is no one looking over your shoulder to make sure you are doing your job well, you will need self-discipline. Your ability to pay attention to details can make the difference between success or failure.

  11. Am I flexible? Do I adapt to change? Can I handle surprises?

    Change is a fact of life. To succeed in business, you must accept this fact and use it to your advantage. Successful business people monitor social trends, adopt new technologies, compare themselves to the competition, and listen and watch with an open mind.

This preceding check list and information was derived from public information available on Strategis and HRDC government web-sites.