This is a question that many college students ask themselves. Most people like to set their own schedule. We want to be able to be in control of our time and be rewarded for our efforts. Starting a business will give you that freedom but it also comes with a price. Often you will have to put in hours and hours before you reap the benefits. Getting a job will allow you to get your reward immediately and every two weeks in the form of a paycheck, but you will be much more constrained. I’ve created a simple quiz that will help you begin to decide if you should start a business or get a job.
FYI, if you are reading this through your feed reader, hop on over to the site. The quiz is a jump page quiz. Small business facts sourced from the National Federation of Small Businesses small business polls.
Start the Quiz Here
But Don’t Scroll Down, Click Your Answer Choice
Do you have any debt?
Do you have a business idea already?Photo via Flickr
No, I don’t know what business I want to start.Forty-two (42) percent of all small businesses introduced at least one new or significantly improved product, service, process or design into their sales inventory in the prior year. Most often the introduction was a product (55%), followed by a service (29%), a process (8%) and a design (7%). Thirty-four (34) percent have never introduced a new or significantly improved product, service, process or design. It has been three years or more since another 11 percent have.
Do you have any savings?Photo via Flickr
How much business knowledge do you have?Photo via Flickr
I have no business experience.The most frequent course of study completed by small employers was business administration and related subjects. Fifty-five (55) percent did so. The second most frequently completed course of study was one of the hard sciences including engineering. Except for the few who took advanced degrees in law and health/medicine, those who took business were most likely to find their studies directly relevant to their current enterprise.
Have you ever worked in a management position?Photo via Flickr
Yes, retail or some other management position.
No, I have no management experience.Seventy (70) percent of small employers supervised people prior to entering their current business. Most now manage fewer people than they once did. This is particularly characteristic of those owning ventures now employing fewer than 10 people.
Do you have a hard time getting along with others?Photo via Flickr
Yes, I often find that others are wrong.
Do you consider yourself an active person?Photo via Flickr
Yes, I work out, get outdoors, etc.
No, I don’t have time for extra activity.
How many hours a week are you willing to work?Photo via Flickr
Do you work best with a coach or motivator?Photo via Flickr
Do you consider yourself to be persistent?Photo via Wikipedia
Why do you want to go into business?Photo via Flickr
If you’ve made it to this question then you might have what it takes to start a business.About one in 10 adult (18-64 years) Americans are currently taking active steps to create a business. Virtually all are doing so because they want to (or see an opportunity to do so) rather than because they have no alternative economic opportunity. This puts the United States at the top of the industrialized world (second to Australia in 2006), a position Americans traditionally occupy. The reason that this number is important is the direct relationship between the number of people trying to start a business and national economic growth (Source: Neils Bosma and Rebecca Harding, Global Entrepreneurship Monitor, 2006, Babson College, 2006.)
Are you willing to take advice?Photo via Flickr
This is probably not the best time for you to go into business. Either you have too much debt or no savings, both will make starting a business very hard. If you expect to work only 40 hours a week and you give up easily then entrepreneurship may not be for you. However, may entrepreneurs are successful based on their networks and desire for more. If you can find the passion then there’s still a chance for success.