Revisiting this from the WSJ a couple of years ago, still relevant and good to ring in the New Year:
FEBRUARY 23, 2009 | COVER STORY
So, You Want to Be an Entrepreneur
First, answer these questions to see if you have what it takes
1. Are you willing and able to bear great financial risk?
2. Are you willing to sacrifice your lifestyle for potentially many years?
3. Is your significant other on board?
4. Do you like all aspects of running a business?
5. Are you comfortable making decisions on the fly with no playbook?
6. What’s your track record of executing your ideas?
7. How persuasive and well-spoken are you?
8. Do you have a concept you’re passionate about?
9. Are you a self-starter?
10. Do you have a business partner?
Here’s the article, with details addressing each of the above.
As an adjunct, I just IM’d to a budding entrepreneur: “As long as you have a relatively clear vision, an idea targeting a growth sector, a network of people you can count on, a day job or some money in the bank, and an indefatigable passion to see your baby through to success, you should be in good shape to take the leap.” Though, I suppose I neglected to point out that a little luck and, voilà(!), magic always helps….
Posted by: Colin Mangham