See if you have what it takes to be an entrepreneur
Are you willing to take calculated risks?
Are you prepared to move out of your comfort zone?
Are you able to problem-solve using logic, intuition and experience?
Are you, in most cases, a “people” person?
Do you have plenty of self-discipline when there is no boss to make you work?
Do you have a general understanding about how the business world works?
Are you able to motivate yourself through tough times?
If you have answered ‘yes’ to all of these questions, then pat yourself on the back – you have the typical characteristics of an entrepreneur – or as we’ll call you: ‘momtrepreneur’.
Criteria for working from home
Can you manage your own workflow and output?
Are you independent and resourceful, and can you make good business and personal decisions?
Are you socially self-sufficient and not reliant on group interaction or teamwork?
Do you have excellent written and oral communication skills and regularly communicate with management and customers?
Do you have the knowledge and training to perform the job independently?
Do you have the flexibility and desire to work independently and with minimal social contact?
Do you have the technology necessary at home to enable you to perform the role successfully?
Do you have the ability to make decisions that may affect the outcome of the business?
Reasons to start a business:
You are your own boss and do not have to answer to any “dictator”.
Increased flexibility in working hours and work tasks. You can choose when and how to do things.
You benefit from all your good work. All profits are for your pocket, not someone else’s.
The sky is the limit. If successful, your earnings could make your current salary look insignificant.
You get to do something you enjoy.
You get the chance to employ others and improve their lives.
Reasons not to start a business:
Nine out of ten new businesses do not last five years.
The first year of business can result in no or very little income as you build up your customer base.
No secure salary at the end of each month.
Finding finance to set up your business is extremely challenging.
Your business becomes your life. When the pressure to get results starts to build, you may be working 7 days a week, 16 hours a day. Will your family tolerate this? Will you lose friends?
If things go wrong (often beyond your reasonable control – somebody copies your idea, your biggest customer goes broke, etc.), you may lose everything.
If you start off on your own you have to do everything, sales, accounts, buying, production, admin etc. Chances are that some of this will be a pain in the neck – are you ready for that?
Do you have all the skills that are required? Are you able to sell, do your accounting books each month, meet government requirements on red tape, create and sell your product?
So – you go girl!