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• Are you a self-starter?
• Can you develop and drive projects, manage your time and follow through on details?
• Are you willing to work long hours? When you own a business, you are committed to it 24/7, particularly in the first few years.
• Are you decisive? As sole proprietor you will have to make some snappy decisions, independently and under pressure.
• Are you organized? Financial planning, production schedules and inventories are the oil that keeps any business running smoothly.
• Are you willing to invest? True entrepreneurs put their money where theirs mouths are, and this may mean using personal savings or investments.
• Do you have a network of friends or associates who could provide outside financing? Insufficient capital is a key cause of small business failure. If you are not able to obtain enough funds from a bank, you may need to rely on funds from friends and family. Most start-up businesses are funded this way.
• Have you considered the possible impact on your family? The strain of a spouse who is not 100% behind you may be hard to weigh against your new business demands. And until the business becomes profitable, financial difficulties could mean lowering your standard of living.
• Do you have strength to stay motivated?
Running a business can wear you down. It takes strong motivation to survive a slump in business or periods of burnout.

If you answered yes to most of these questions, then you have the potential to join the ranks of successful business owners.