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4 questions for the aspiring entrepreneur

Are you ready to be an entrepreneur?
By Entrepreneur Staff |

Becoming an entrepreneur is every person\\\'s dream, but not everyone is ready to be one. Some people are best working their way up the corporate ladder than starting their own business.

And not all that end up as entrepreneurs are meant to be entrepreneurs right after college. Some can become entrepreneurs at age 40, others at age 34, and maybe some can start as young as 20 years old.

 

To help you understand whether you are ready to be an entrepreneur and if the timing is right, Entrepreneur.com.ph listed down these four questions that will help you understand your strengths and weaknesses better. 

 

1. Do you have management skills?

 

Do you have enough experience, or are you familiar with the business you’re entering? If not, do you have partners who can provide expertise, experience or both?

 

2. Do you have enough resources—capital, assets and equipment—to start and sustain your business?

 

If you’re into a service industry, do you have enough back-office support? 

 

3. Do you have the right personnel to aid you in starting the business?

 

Do you have a skilled, productive workforce? 

 

4. Do you have marketing skills?

 

How does your product or service compare to its rivals? What benefits does your offering provide that competitors do not, at least for the time being?

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