As a startup advisor and investor, I’ve met many aspiring entrepreneurs, and I often get asked the question, “I have a great idea for a startup – do you agree that it real potential?” They don’t know that most experts agree the person is more important than the idea, yet I’ve never been asked, “I have a great idea for a startup – do you agree that I have real potential as an entrepreneur?”
Nevertheless, I’ve given a good bit of thought to some questions I might ask, or you should ask yourself, to get some indication of whether you have the right stuff to succeed and be happy in the entrepreneur lifestyle. Here are ten sample questions that I believe will reveal positive indications of your potential as an entrepreneur, and also indicate that you will select good ideas:
- You see creating a business as a fun challenge. Many techies and inventors I know hate the thought of running a business – their fun and challenge comes from creating the innovative solution. For these, I recommend that they find a partner first who is willing and able to run a business. “If we build it, they will come” is not a viable startup strategy.
- You tend to ask for forgiveness rather than ask for permission. This attitude indicates that you are comfortable making decisions, and ready to be your own boss – a major prerequisite for succeeding in any entrepreneurial endeavor. Of course, you do need to consider how often that strategy has worked for you, and how often it backfired.
- Making big money excites you, but is not your major driver. If you are dreaming of an opportunity to get rich quick, the entrepreneur route is not for you. Most great founders lived on Ramen noodles, without taking a salary, for longer than they like to remember. For them, money is a positive indicator of success, but not an end in itself.