1. Do you believe you have what it takes?
2. Are you able to let other people down?
3. How do you handle setbacks?
4. Are you really an inventor, rather than an entrepreneur?
5. Can you accept that your company may outgrow you?
6. When you look in the mirror, does an entrepreneur look back?
We don’t mean personal characteristics — or not just personal characteristics, anyway. Do you believe you have all the skills, energy, money, people, and knowledge to start a business? Founders who carefully identify and evaluate their resources in pursuit of a well-defined goal display “entrepreneurial self-efficacy,” a trait many academics believe to be the best predictor of success. continue reading »
1. Invest in technology
Technological improvements–new billing software or an online ordering system, for example–will allow you to add new customers with little additional cost when business picks up. If cash is short, try rolling out new technology in waves. Installing a new tracking system on 5 to 10 percent of your vehicles, for example, will allow you to test how successful the new system is, and whether you should expand it to the entire fleet. continue reading »
