THE BLOG
10/05/2014 11:31 pm ET Updated Dec 06, 2017

Take the Quiz: Are You Ready for Your Own Business?

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You've always wanted to be your own boss, right? But are you ready for the challenge?

To find out, answer these 10 questions as honestly as you can. Don't ponder, just react, quickly:

1. Can you stomach risk?

2. To achieve significant results, are you willing to spend twice as much money and wait three times as long as you think you'll have to?

3. Are you willing to engage in honest work, with deep concentration?*

4. Is freedom more important to you than power?

5. Do you rely on praise and security?

6. Does anonymity bother you?

7. Are you passionate about your product or service?

8. Do you analyze before you proceed, or just do what seems best?

9. Do you accept personal responsibility for failure?

10. Do you persist so long that your friends and family sometimes think you're unreasonable?

(Scoring instructions are at the very bottom.)

Do you have doubts about all this? No? Of course you do, don't lie to me. Doubts are normal.

Remember that passion is paramount. In fact, a survey in a recent book shows that an astounding 65 percent of business founders are motivated by their hearts.

I believe that passion and persistence trump brains and talent any day. Genius and fancy degrees may help, but I'd bet on a person of average intelligence with deep commitment and superior drive.

*Footnote about Question 3: A survey from salary.com shows that 31 percent of workers in the U.S. waste one hour a day, 16 percent waste two hours, and six percent waste three. That means a total of 53 percent of the labor force is whiling away 1/8 to 3/8 of the day. That makes it easier for you to compete.

How to Score the Quiz:

Give yourself one point for each "Yes" answer to questions 1-4, 7, 9 and 10, one point for each "No" answer to questions 5 and 6, and one point if you chose "analyze before you proceed" in Question 8. Here's what the results mean:

Score of 10: Start your business tomorrow.
Score of 6 - 9: You are ready.
Score of 4 - 5: You're on the fence.
Score of 1 - 3: Stay at your job.

(Photo credit Chantal de Bruijne, from shutterstock.com)