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Use the range of self-assessment tools we discussed in previous episodes to see if you have the relevant traits. There's also a link in the show notes.
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Do you have relevant experience in the industry you’re considering entering?
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Do you thrive on challenges?
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Do you have the discipline and motivation to keep going when times are tough?
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Do you enjoy making and being responsible for your own decisions?
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Are you prepared to work long hours including weekends?
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Do you have sufficient personal savings or an alternative income to live off during the early stages of your business?
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If you have a family, do they understand that there may be less income and time available to spend with them while you are starting your business? Do they support this?
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Are you prepared to develop your skills and knowledge in areas that you will need to effectively run your business?
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Are you prepared to seek assistance from professional business advisers?
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Are you prepared to take the risk of not succeeding and losing all the money you have invested?