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#QUIZ: Should I Start a Business or Get a Job After College?

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?

Yes, I have some debt.

No I am debt free.

Since the beginning of early September, 30 percent of small employers applied for credit or commercial loans in one form or another, at least half of which applied more than one time. Seventy (70) percent did not apply of which 12 percent, or 8 percent of the population, did not apply because they thought they could not get credit they wanted.

 

Do you have a business idea already?

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Yes, I have a business idea.

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?

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Yes, I have some savings.

Savings, what’s that?

Small-business owners believe that the primary reason they experience cash flow problems is the difficulty they encounter collecting money due them (30%). The second most frequently cited reason is seasonality (23%). The third is unexpected variations in sales (15%) and the fourth, weak sales (13%).

 

How much business knowledge do you have?

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I have a business degree.

I’ve learned from experience.

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?

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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?

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Yes, I often find that others are wrong.

No, I’m pretty easy going.

 

Do you consider yourself an active person?

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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?

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40 hours

Less than 40

More than 40

 

Do you work best with a coach or motivator?

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Yes, I find it helps me.

No, I motivate myself.

 

Do you consider yourself to be persistent?

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Yes

No

 

Why do you want to go into business?

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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?

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Yes

No

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.

Originally posted 2015-05-30 10:00:11.