Thinking about starting a business? This short quiz will help you assess whether now is the right time, and what areas you might need to strengthen before taking the plunge. Score yourself honestly and total your points at the end!
1. Do you have a business idea that solves a real problem or meets a specific need?
- Yes, and I've validated it with others – 3 points
- Yes, but I haven’t tested it yet – 2 points
- I’m still figuring it out – 1 point
2. Do you know who your target customers are and how to reach them?
- Yes, I’ve done my research and have a plan – 3 points
- Sort of – I have a general idea – 2 points
- Not yet – 1 point
3. How much time can you commit to your business each week?
- Full-time – 3 points
- Part-time/side hustle – 2 points
- Occasionally when I can – 1 point
4. Are you financially prepared to support yourself while starting your business?
- Yes – I’ve saved or have support – 3 points
- Somewhat – I’ll need to juggle work or income – 2 points
- No – I haven’t thought about this yet – 1 point
5. How confident are you in your business skills (marketing, finances, planning)?
- Very confident – 3 points
- Somewhat confident – 2 points
- Not confident – 1 point
6. How comfortable are you with uncertainty and taking risks?
- Very – I’m okay stepping outside my comfort zone – 3 points
- Sometimes – it depends on the situation – 2 points
- Not really – I prefer stability – 1 point
7. Do you have support (mentors, networks, advisors)?
- Yes – I know who I can ask – 3 points
- Somewhat – a few people I can reach out to – 2 points
- Not yet – 1 point
Your Score
Add up your points and see where you sit: 18–21: You’re ready to start! You’ve done the thinking, and you’re in a great position to launch; 13–17: You’re getting close. A bit more planning and support will boost your chances of success; 7–12: Don’t worry – this is a great time to learn and prepare. Sea to Valley Startups can help you get ready!
Book a free business coaching session now: https://seatovalleystartups.com.au