The 8 Toughest Business Questions

by: Michael Brassil
Do you ever wonder if you will really succeed with yoursmall business? You may have a number of special traits, buthow well developed are they? There are qualities of endeavorand achievement that are common to successful businessowners. Ask yourself these questions to see if you have whatit takes.1. How will the business affect your family? The first fewyears of business start­up can be hard on family life. Thestrain of an unsupportive spouse may be hard to balanceagainst the demands of starting a business. There also maybe financial difficulties until the business becomesprofitable, which could take months or years. You may haveto adjust to a lower standard of living or put family assetsat risk.2. How will you support your family while building up yourbusiness? This question must be worked out according toeach persons’ individual circumstances. Many people startout on a part-time basis. Then when their incomes reach acertain level they will switch over to full time. Granted,if you take this "safer and surer" approach, it may take youlonger to reach the goals you set for your new business, butyou will save yourself (and those who depend on youfinancially) a lot of anxiety. Ultimately, like the turtlein the race who moved ahead slowly yet steadily, you willhave a greater chance of reaching the finish line.3. How well do you get along with different personalities?Business owners need to develop working relationships with avariety of people including: customers; vendors, staff;bankers; and professionals such as lawyers, accountants andconsultants. Can you deal with a demanding client, anunreliable vendor or cranky staff person in the bestinterest of your business?4. How good are you at making decisions? Small businessowners are constantly required to make decisions underpressure.5. Do you have the physical and emotional stamina to run abusiness? Business ownership can be challenging andexciting. But it is also a lot of work. Can you face 12­hourwork days for six or seven days a week?6. How well do you plan and organize? Research indicatesthat many business failures could have been avoided throughbetter planning. Good organization of: financials;inventory; schedules; production; can help avoid pitfalls.7. Do you have the drive to maintain your motivation?Running a business can wear you down. Some business ownersfeel burned out by having to carry all the responsibility ontheir shoulders. Strong motivation can help to surviveslowdowns, as well as periods of burnout.8. Do you have the discipline to do what has to be done?When working for someone else, it becomes routine to riseearly, be well-groomed and get to the office on time.However, a significant number of people starting up a smallbusiness at home all too often find themselves at 10:00 inthe morning in their bathrobes, drinking a second or thirdcup of coffee.Make no mistake, starting a successful small business ishard work. BUT, it is also highly rewarding! Attack thechallenge head-on and success will be yours.