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.