Do Business Well

Simply looking at your background and qualifications and matching them up with your ideas, will not really determine whether or not you can run a home-based business. Look carefully at the answers to the questionnaire. Do they reveal any administrative experience or training? Do you have any qualifications in financial matters? Such areas are important in running a business. Most businesses which fail do so because of a lack of control over finance, or because of faulty administration. Analyse yourself accurately to be sure that you have the qualities required to keep a grip on finances and administration. Write down your answers to the following questionnaire to test your financial and administrative abilities.

1. Do you have any qualifications in mathematics?
2. Do you have any qualifications in finance?
3. Do you have any qualifications in administration?
4. What experience do you have of financial matters?
5. What experience do you have of administration?
6. What training courses have you attended on finance?
7. What training courses have you attended on administration?
8. Have you encountered any unexpected financial difficulties?
9. Do you worry about personal finances?
10. Do you run up debts? (If so, how often and how much?)
11. Are all your personal documents, such as birth certificate driving licence, insurance policies, etc, filed and easily located? (If not why not?)
12. Is your usual work area in a muddle? Could you control this muddle?
13. Is your personal life organised or haphazard?
14. What do you understand about financial control and administration?

Your answers to this questionnaire will show just how much knowledge and experience you have in relation to finances and administration—the cornerstones of any successful home-based business. If the replies show that your knowledge is slim, or even non-existent, don’t think you are unsuitable for self-employment. Such skills can be learned. Your answers to the questionnaire will have revealed whether or not you need some kind of training for these important aspects of running a business.

The ideal candidate for a home-based business will have, among other things:

• qualifications and experience in financial and administrative affairs

• freedom from unexpected financial difficulties
• no worries over personal finances
• no major debts
• a well-organised home filing system
• a well-organised working and personal life
• an understanding for the need for financial control and tight administration

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