Came across this while surfing around http://www.prospects.ac.uk/
I guess these are a few important questions that one should answer before deciding to venture into self-employment.
Could you be a risk taker? No business is risk free, so you need to judge the level of danger correctly and then be sufficiently well prepared to live with the consequences.
What is your response to uncertainty ? Do you find this exciting rather than worrying? Are you prepared for changing markets, competition, economic fluctuations?
Do you see change as a challenge? Can you minimize its downsides by careful thought and planning?
Are you opportunity aware?Given even half a chance do you take it? Better still, can you see it coming before anyone else does? Or are you too cautious or over-analytical?
How hard can you work?Being self-employed is not an easy option especially if you are working on your own. Results are often only produced by working long hours, doing routine tasks rather than high powered business deals.
Are you a realist? Can you gauge in practical terms what it’s possible to achieve or produce within a certain period? In business terms this translates into: being aware of limitations; striving for speed, efficiency and quality; pricing your output so that it appeals to clients but at the same time pays you a realistic wage. Are you able to visualise the product or service you are offering through your customers’ eyes?
How well organised are you? You’ll need to be an excellent time manager. If you don’t already possess this skill, it can be learned! How else will you juggle tasks, meet multiple deadlines, prioritise conflicting demands and cope with basic administration such as sending out invoices? No one is going to pay you unless you remind them.
Do you plan ahead? You need to do this to minimise uncertainties and maximise your chances of success. You may have enough work now but unless you inform more people about what you do, it may soon dry up.
Will you be able to network? It is essential to be able to market yourself and your business, often in social situations. Constantly putting yourself in a position to meet potential customers or contacts is a prerequisite.
Are you literate and numerate? What’s your relationship with computers? If you are not totally familiar with any of these functions you may have to pay other people to help with bidding for funds, doing the accounts and dealing with IT.
Do you possess commercial awareness? Do you know how to attract and retain customers, make a profit and corner a share of the market?
What’s your level of commitment? Do you believe in yourself and in your own business idea? Self-employment is not always a comfortable option or an easy alternative to finding regular work. Doubts or a half-hearted approach can be disastrous.
Are you self motivated? Running a business can sometimes be a lonely occupation. No one is going to motivate you other than yourself.
What does professionalism mean to you? Will you turn up to meetings on time, present a businesslike image, and do the necessary homework?
What do you think?
A) Better stay put and working in my lovely cubicle 9 to 5 !
B) I'm all geared up to get rich (or get very poor) and achieve a lot more!
and this!
