Kelly Spors, a staff reporter at the Wall Street Journal in Minneapolis, wants to know if you've got the grapes to make it as an entrepreneur.
It seems that in this "bleak economy" everyone is contemplating either suicide or entrepreneurship. So in her article, which ran on the front page of The Journal Report today, Spors lists some important questions wannabe entrepreneurs should be asking themselves before they strike out on their own.
The Journal notes that being your own boss can be a liberating and lucrative experience, but cautions that "building a successful business can take years filled with setbacks, long hours and little reward. Certain personalities thrive on the challenge and embrace the sacrifices. But it can be a hard switch for someone who has spent years sitting in a cubicle with a steady paycheck." Here's what you need to consider:
1. Are you willing and able to bear great financial risk?
2. Are you willing to sacrifice your lifestyle for potentially many years?
3. Is your significant other on board?
4. Do you like all aspects of running a business?
5. Are you comfortable making decisions on the fly with no playbook?
6. What's your track record of executing your ideas?
7. How persuasive and well-spoken are you?
8. Do you have a concept you're passionate about?
9. Are you a self-starter?
10. Do you have a business partner?