Robin Ryan, Author of ’60 Seconds and You’re Hired’
Many of us fantasize about owning our own companies. Nearly one million new businesses are launched each year, but more than 85 percent will close within five years. There are some key indicators of who will be most effective as owners. Take this quiz to help you determine if you have the burning desire, discipline and resources to become your own boss.
Are you a self-starter?
It will be up to you, not someone else, to develop the business, organize the projects, manage your time and follow through on details.
Can you handle the uncertain financial risk?
Businesses all have cycles, the ebbs and flows in profitability. Once it’s started you’ll have overhead and operational expenses that must be met before you get paid.
Do you have good business skills?
You must attract customers. New and repeat customers are the lifeblood of your business. You must possess or learn these skills — accounting, business planning, operations, sales, marketing and customer service — to survive and succeed.