If you have a great idea for an online business and not much time or money to invest, it’s important to give it some careful consideration before committing yourself. Below are fifty questions to help you answer the question “Is Solo Enterprise for Me?”
Choose only one response for each question Yes, Maybe or Definitely Not. If your response is “not yet but I will get to this” choose Maybe.
- Are you organized?
- Do you enjoy working with systems?
- Can you handle your perfectionism?
- Do you manage your money well?
- Can you live with a sporadic income?
- Have you determined what funds you will need to carry you during startup?
- Can you arrange your own benefits?
- Can you trade security for freedom?
- Do you have a quiet/private space to work in?
- Do you have a separate business phone?
- Can you handle your need for control?
- Do you make use of the latest technology?
- Do you hate mandatory meetings?
- Do you hate office politics?
- Do you get frustrated with bureaucratic red tape?
- Do you often have good ideas?
- Can you make a plan and stick to it?
- Are you comfortable with change?
- Is control over your own destiny important to you?
- Do you have a flawless reputation?
- Are you involved in your community?
- Can you ask for a sale?
- Are you comfortable networking and meeting with strangers?
- Are you comfortable speaking about and promoting yourself?
- Are you comfortable with the profit motive?
- Do you know how to set your fee?
- Do you know how to get attention?
- Do you like providing the personal touch?
- Are you willing to work 20 hours/day?
- Do you prefer to set your own hours?
- Are you willing to work on weekends?
- Do you have boundless stamina & energy?
- Do innovation and creativity excite you?
- Can you shift direction quickly?
- Can you set priorities and follow them?
- Do you get along well with people?
- Do you have self-discipline?
- Are you usually confident?
- Are you comfortable making presentations?
- Do you listen well?
- Do you have excellent oral and written communication skills?
- Do you have family support for this new venture?
- Have you thought about how you will maintain your work/life balance?
- Have you checked into municipal zoning if you plan to work from home?
- Have you checked into business licensing?
- Are you able to handle the isolation of working alone?
- Have you inventoried your skills and knowledge?
- Do your skills and knowledge match those required for the enterprise?
- If you plan on turning a hobby into a business, have you checked to ensure you want to do it day after day?
- Are you comfortable seeking and using feedback?
Is Solo Enterprise For Me?
Tally up your score. If your score is mostly No answers, you might want to change your thinking. However, if you have lots of Yes and Maybe answers, you have a lot more thinking to do.
Questions to Ask Yourself
After answering all of the questions above, write your thoughts about the following:
- How does this fit with the passion I identified?
- What research do I need to do?
- What do I need to discuss with my family?
- What new skills and knowledge do I need to acquire?
- What is my next action step?
What scores did you get? What decisions were you able to make? How was this exercise for you? Please share comments below.