Step
One: Look at Yourself
Are you ready to be a small business owner? Do
you have what it takes? Use the chart below to look at your strengths
and weaknesses. Rate yourself on each skill by choosing the appropriate
number.
Download
this chart in printable format (.pdf)
| |
Low |
Medium |
High |
| Sales and Marketing |
|
|
|
| Advertising, promotion, public
relations |
1 |
2 |
3 |
| Creating marketing plans |
1 |
2 |
3 |
| Creating marketing strategies |
1 |
2 |
3 |
| Advertising copywriting |
1 |
2 |
3 |
| Pricing |
1 |
2 |
3 |
| Packaging |
1 |
2 |
3 |
| Sales planning |
1 |
2 |
3 |
| Negotiating |
1 |
2 |
3 |
| Direct selling |
1 |
2 |
3 |
| Customer service |
1 |
2 |
3 |
| Tracking competitors |
1 |
2 |
3 |
Financial
Planning and Accounting |
|
|
|
| Cash flow planning |
1 |
2 |
3 |
| Bank relationships |
1 |
2 |
3 |
| Managing credit lines |
1 |
2 |
3 |
| Bookkeeping |
1 |
2 |
3 |
| Billing, payables, receivables |
1 |
2 |
3 |
| Monthly profit and loss statements |
1 |
2 |
3 |
| Tax preparation |
1 |
2 |
3 |
Personnel |
|
|
|
| Hiring employees |
1 |
2 |
3 |
| Firing employees |
1 |
2 |
3 |
| Motivating employees |
1 |
2 |
3 |
| Scheduling |
1 |
2 |
3 |
| Payroll |
1 |
2 |
3 |
| Benefits administration |
1 |
2 |
3 |
| General management skills |
1 |
2 |
3 |
Communication
Skills |
|
|
|
| Oral presentation skills |
1 |
2 |
3 |
| Written communication skills |
1 |
2 |
3 |
| Computer skills |
1 |
2 |
3 |
Personal
skills |
|
|
|
| Ability to establish goals |
1 |
2 |
3 |
| Ability to work long, hard hours |
1 |
2 |
3 |
| Ability to manage risk and stress |
1 |
2 |
3 |
| Ability to handle failure |
1 |
2 |
3 |
| Ability to work alone |
1 |
2 |
3 |
| Ability to manage others |
1 |
2 |
3 |
There is no magic number that ensures success as a
small business owner. Look at your overall skills, but look at each
area, as well. If one or two areas are low, it might be smart to gain
the skills you’re weak on before you start a business.
If you scored low in the last section, "Personal
Skills," you should probably reconsider whether owning a business
is the right step for you, no matter how strong your other skills are.
If you can’t motivate and manage yourself through the tough times of
business ownership, you will probably be happier in the long run working
for someone else.
If you scored mostly 2s
and 3s in all areas,
you may be ready to move on to Step Two.
|
