Deciding to break out on your own and start a small business is a bold move. So bold, in fact, that some people think all you need in order to do it is the appropriate amount of gumption. In our current culture, there is a certain amount of glamour assigned to the entrepreneur – from eccentric celebs to startup success stories, there’s no shortage of encouragement out there. But when it comes down to brass tacks, the business of self-employment should not be taken lightly.

Sure, the rising popularity of things like startup incubators and angel investors have definitely brought down the barriers to entry for small businesses. But there is still a lot to consider before making the decision. The flowchart below, created by freelance illustrator Alex Westgate, aims to help entrepreneurs take an honest look at whether or not they are ready for everything that starting a small business entails. It asks the tough questions, like:

  • Do you have significant capital available?
  • Are you prepared to lower your standard of living to make it happen?
  • Do you know the target market you will go after?
  • Are you sure your planned business fills a need that exists in the market?

Take the test for yourself, and who knows – maybe you’re finally ready to start that small business after all! If so, tell us about your plans in the comments below.

Should you start a business? A flowchart

About the Author: Sarah Matista is the Content Marketing Manager at Webs, where she also manages marketing for Pagemodo – a suite of social media tools. Loves marketing, small businesses, and whales. Get more from Sarah on the Webs Blog, Twitter, and Google+.

2 Responses

  1. Reply
    Mar 15, 2015 - 10:47 AM

    I am more enlightened by this submission . and wonder how I can upstart my business while still coping with teaching .

  2. Reply
    Yameen Ahamed
    Mar 24, 2015 - 05:42 AM

    Simply great

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