qprev_HBB Manual 2.qxd - Small Business BC

9-12: Lacks some qualities but with some workcan be successful8 points or fewer: Unlikely to be successfulalone; should consider working for someone elseor getting a senior partner who can manage thebusinessTo help you identify areas of strength andweakness, consider each set of questions as agroup:• Questions 1-8 determine your motivation.• Questions 9-14 indicate business orientation.• Questions 15-18 indicate business attitudes.• Questions 9-22 assess your genuine interest inbusiness as a life goal.• Questions 23-26 help determine familiaritywith business and management.Source: Adapted from Devenez EntrepreneurQuebec, Les Presses de l’Universite, Laval,1986, Fortin, Paul A. We thank the Foundationde’ l’Enrepreneurship for granting permission touse this materialAppendix FSelf-Analysis QuestionsHere’s a list of questions to ask yourself aboutyour readiness to operate a home-based business:Personal Resources• Do I have the energy to tolerate long hours andconcentrated effort?• Do I have the self-direction to work alone?• Do I have techniques in place to controlpotential stress?• Do I have the confidence to accept any failuresand turn them into opportunities?Life Style• Can I communicate my feelings and dreamspositively to my family?• Will I keep my family informed and involved?• Will I be able to say “no” to holidays or leisureactivities if necessary? Will those who gowithout me understand?• Will I be able to maintain a personal andfamily life as well as run a business?• Can I prepare my self to not have a personallife for some time?Finances• Will I be able to budget my business expensesand stick to the limits I set?• Do I understand financial statements and whythey are important to my business?• Do I appreciate the importance of tracking andcontrolling expenses, inventory and debt?• Are alternate sources of income available forliving expenses?• Am I realistic about household and lifeexpenses and sources of income that can bedepended on until the business getsestablished?120solutions for small business home-based business