Personal Assessment

This is an opportunity to assess how likely your business idea is to be successful from a Personal point of view


1. Have you discussed starting a business with your family?

Yes
No
I don't think they would be interested

2. Are they willing, and able, to help you out?

Yes and they're keen to do so
Not really
If it is to be, it's up to me

3. Will they be able to live with insecurity for some time?

Yes we've discussed all the risks and the benefits
I think if I don't make it - it would cause major relationship problems
Why should they feel insecure?

4. Do they understand, fully, what working for yourself means?

I haven't asked them
Yes, I think so
Yes we've discussed the pro's and con's and reached a joint agreement and understanding

5. If you need to use the home as security, for a loan or overdraft, do they know what it means?

I would never do that
No, but we'll cross that bridge if we come to it
Yes, although the business plan shows we shouldn't need to that, they are willing if it means securing a future

6. Are they willing to accept a temporary, or permanent, drop in the standard of living?

Yes and we have worked out a 'Survival Budget"
Not really, but I'm sure we'll be millionnaires next year
I haven't discussed that part of it, it worries me

7. Can they manage without you to do the shopping, look after the kids, mow the lawn, etc?

No, but I've agreed to do that when I come home
Yes, and we agree that the business takes priority until it's well established

8. Are you prepared to do things you may not like, such as collecting money, selling, doing books, etc?

What do you mean - I thought working for myself meant doing my own thing
Yes, I understand that there's a lot to learn and self discipline is one of the first things
I'll just pay someone else to do it (like the wife / husband)

9. Are you prepared to work long hours, with little time off to start with

I've planned to work 24 hours a day 7 days a week to start
Yes, however I've planned my time so that I can get some time off and operate at maximum efficiency

10. Are you totally committed to success, no matter what?

Well, we'll see how it goes
I will do whatever has to be done until it's done

11. Have you taken professional advice on starting your business?:

Well, I spoke to my brother in law and he said .....
I'm here, on your web site aren't I?