This will help you to determine your next and necessary steps depending on your involvement in the business.
You plan and plan, but find it more enjoyable to dream about what your business could be. You’re not quite sure what you need to know, but you definitely don’t like sticking your neck out without more information and a plan.
Potential Risk: None
Financial Investment: None
Potential Reward: None
You dabble on the weekends and when you get requests from friends. You’re not wanting to put more than a couple of hours in a month. It provides some play money, but you’re not ready to leave your job and take the plunge.
Potential Risk: Low
Financial Investment: Low – Depending on Project. If you’re into tech, this can get costly.
Potential Reward: Low – Spending Money
Every ounce of free time outside of your 9-5, you’re working on your business idea. You’re putting in 10-40 hours a week on this and love what you’re doing. It’s only a matter of time before you take it to the next level and do it full time.
Potential Risk: Mid-Level, Depending on Industry and Project
Financial Investment: More than Hobbyist, but Not as High as the All-In Entrepreneur. You may invest your revenue back in your business
Potential Reward: Mid-Level, Could Provide Financial Security and Additional Lifestyle Options
You have taken the courageous step into self-employment and walked away from your corporate security blanket. You are ready to give this everything you’ve got to make it successful. This is your dream and you know you can build an amazing company.
Potential Risk: High
Financial Investment: High
Potential Reward: High
Which Kind of Business Owner Are You? ______________________________________________
Which Kind of Business Owner Do You Want to Be? ______________________________________________