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Are you ready to run a business?

Is running a business right for you?

Do you know what is important when it comes to running a business; in skill set, personal attributes, network of connections and professional knowledge? It may be helpful for you to use the table below as a guide to evaluate where you stand when it comes to running a business.

Running a business has its risks, and it’s important for you to be prepared for what is to come. You should consider that most new businesses fail in the first three years of operation, often because of poor planning, management and cash flow. You may not have all the factors now, but it’s possible to start your business, seek development opportunities and improve in time. You may also decide that you are willing to ‘bring in’ some of the skills or expertise, through your staff, short or long-term contracts or other support.

You could also ask friends, family and others for feedback. An important factor in achieving success is to honestly assess yourself and your business.