Throughout National Small Business Week, we’ve been celebrating the many ways small businesses contribute to their communities and help keep the economy thriving. Is it your turn to join them?
Starting a business is one of the most exhilarating, and frightening, things you can do in a lifetime. The rewards can be abundant — following a lifelong passion, being your own boss, providing a service that’s important to you, improving your customers’ lives and more. Yet the risks can be daunting, too: financial uncertainty, unforeseen challenges and so on.
The risks are important to keep in mind, but they shouldn’t necessarily stop you from pushing ahead with your business idea. To size up your readiness to take the leap into entrepreneurship, there are a number of questions to ask yourself. How strong is your business idea? What do you know about the potential market for it? How would you describe your tolerance for financial unpredictability?
A recent installment of Small Talks shows how one small business owner, Spencer Johnson of Minneapolis-based Sota Clothing, answered some of these questions. Now it’s your turn to answer them in our free quiz below. See if you’re just about ready to take the plunge, or if there are facets of owning a business that may require a little more research first.