How to tell if you're ready to start a business?
You can never know for sure that you are ready to start a business but answering some questions honestly will help you determine how ready you are. The best thing to do prior to starting a business is to critically analyse your skill-sets, weaknesses, employment and financial circumstances as well as your experiences as these variables have a large influence over the likelihood of success for your new business venture.
Business Readiness Scoring Tool
Do you already have a marketing plan to cost effectively acquire new customers
Is your business model new or does it already exist
Describe your access to capital to fund this business venture
Describe the level of investment needed to start your business
5
Rate your level of industry knowledge relevant to this business out of 10
5
Rate your level of focus that you and other owners have on this business out of 10
Estimated Business Readiness
How to interpret score:
0-50: Very high risk
50-60: High risk
60-80: Moderate risk
80-100: Lower risk
Calculator Disclaimer
The results from this tool should be used as an indication only and does not constitution financial advice. Always seek professional advice prior to purchasing a business or making a serious business decision.
