Quiz Answers & Comments

1. It's important to know what you want and why you want well in advance and to shape your goals because you'll be spending long hours at it. You don't want to waste time, resources and your own security to find out you'd be happier working something else.

2. If you answered NO you are one step ahead. You should be aware that you may not be able to have free time like before.

3. Leadership is still a necessary trait for any entrepreneur. Management means much more than giving orders. It means build an effective and inspired team, maximum utilization of money, people and other resources. Poor management is the largest single cause of business failure.

4. Entrepreneur is not a born gambler, but those who make it in business must take risks. Try to control those risks.

5. Starting your own company is not for those who seek immediate results. Some projects might take five or ten years to complete.

6. Good entrepreneurs not only see solutions where others see problems - they also see solutions when others don't recognize there's a problem at all.

7. Successful entrepreneurs are generally excellent problem solvers and they are known for their ability to a changing marketplace quickly.

8. If you are able to manage your personal finances you'll probably handle business financial matters equally efficiently.

9.Successful entrepreneurs are known for their ability to adapt to a changing quickly. Keep in mind that you can plan and prepare many things but new and different problems crop up every day and it's critical to act on the solution immediately.

10. You have much more chance in business if your family and others close to you are prepared to stand by you.

11. Being your own boss can offer great satisfaction, but with it comes the responsibility too.

12. Business success or failure will depend on your understanding of business you are entering. If you have no experience in the type of business that you want start, work for a while for someone else who is already established, because experience is the greatest of all teachers.

13. Running a business is hard work and long hours are not unusual - especially in the start-up phase when you have to sacrifice some of your free time.

14. An informal network of skilled advisors and other contacts with business experience to assist you or help you can be extremely helpful.

15. The ability to put your mind to a task is a strong indication that you have the qualities for excellent business person.

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