Self-Analysis Questions

Personal Resources

• Do I have the energy to tolerate long hours and concentrated effort?
• Do I have the self-direction to work alone?
• Do I have techniques in place to control potential stress?
• Do I have the confidence to accept any failures and turn them into opportunities?

Lifestyle

• Can I communicate my feelings and dreams positively to my family?
• Will I keep my family informed and involved?
• Will I be able to say “no” to holidays or leisure activities if necessary? Will those who go without you understand?
• Will I be able to maintain a personal and family life as well as run a business?
• Can I prepare myself not to have a personal life for some time?

Finances

• Will I be able to budget my business expenses and stick to the limits I set?
• Do I understand financial statements and why they are important to my business?
• Do I appreciate the importance of tracking and controlling expenses, inventory and debt?
• Are alternate sources of income available for living expenses?
• Am I realistic about household and life expenses and sources of income that can be depended on until the business gets established?

Stability

• Is my home-life financially organized and can the business income be secured from household demand?
• Am I healthy, with energy reserves, and emotionally prepared for my business and family stress and success?
• Does every family member appreciate my objectives and how important the business is to me, to us? Do they support you?
• Will my home life remain stable if my business fails?

Professionalism

• Am I willing and able to work long hours for future benefits?
• Am I realistic about how long success may take, and committed to making the business work?
• Are my planning skills and sense of responsibility strongly enough developed to build a successful venture?
• Do I have the knowledge to make this particular business succeed, or should I be securing that knowledge before moving to a business basis?
• Do I want business success enough to set and keep high standards of product and service?