7 Predictors of Business Success

On average, 44 small businesses are closing their doors each day according to the Australian Bureau of Statistics data.  Approximately 80% of small businesses close within 5 years of starting, causing financial ruin for the business owner and their families.

If you are going to start a small business you should take this test to predict whether you have the attributes for business success.

The seven predictors of business success are:

  • You like selling.
  • You have high energy levels.
  • You have a positive attitude to life.
  • Your family is supportive of the business.
  • You get on well with people
  • You have realistic expectations.
  • You have adequate capital to invest in the business.

Although having these seven attributes is not a 100% guarantee of business success, not having many of these attributes will make it highly probable that your business will fail. Starting and running a business is hard and is not for everyone. You can evaluate yourself against the predictors to assess your attributes and likelihood to succeed.