At some point of time, most people toy with the idea of working for themselves. Earning a stable income every month and going to an established office to work is satisfying in some ways. But after a point, many people feel like as though they would benefit more if they spent all their time and energy in doing work for themselves rather than being paid to do it for someone else. If you are at this crossroad and can’t decide for yourself, maybe this 10 question quiz will help.
Do you look forward to going to work?
I have to force myself
Do you feel satisfied with the kind of work you do, at the end of every day?
There is a lot more in other fields that I want to do
Do you think you can earn better if you set-up your own entity?
Yes, absolutely – I will be my own boss and will be motivated
Over time, yes
Do you have ‘business’ acumen?
Yes, I come from a business background
Not at all
I can always learn on the job
Do you have a proper business plan / service offering or product in place?
I have an idea, it needs to be put in place properly
Are you a confident risk taker?
Yes I can take risks
I hate risks
Is your family solely dependent on your income only?
We have investments
Are you in a position to take a loan for your business, if needed?
Yes we have good credit rating
No, I have other running loans
Will have to check with a CA
Have you got the relevant experience to run a business?
I need to learn more
Do you have any other external monetary or non-monetary support?
I will need to search
A – 4 points
B – 2 points
C – 1 point
Score between 30-40
You can think of starting a business and working for yourself because the basics are in place. Take some professional guidance, speak to a corporate lawyer or Chartered Accountant and put things in perspective before starting out. Sign up on FlexiPort to start your freelance career.
Score between 20-30
You need more time to plan and set-up a proper business idea. Speak to professionals for timelines and ideas. Do not start a business or work for yourself unless you have sufficient savings, investments, a place to host your business.
Score between 15-20
You need to invest more time into creating a structured plan of action and business idea.