If you are thinking of starting your own business, you must submit yourself to an acid test so as to determine whether you really have what it takes to be a successful businessman. Please ask the following questions to yourself and answer them truthfully.

1. Do you have an itch to have your own business or you start your own business just because someone else has started his own and has become successful? Do you know how many failed businessmen are there against one successful businessman?

2. Do you have enough experience in the field in which you wish to start your business? Is your experience all round to take care of all the business needs or you have experience in just one of the fields such as marketing, or production, or finance etc. If you have experience in just one field, you must

3. Do you have enough information about your competitors? Do you know what are the strengths and weaknesses of your competitors? Have you thought how and why your customers are going to buy from you when there are many other sources available?

4. Do you have risk taking capacity? Can you risk your future career for own business rather than a glowing career in a company? Can you risk your family life and your funds on your own business, in case if it goes wrong?

5. Does have any idea how much struggle you may have to put up before you start to see the profits? Do you know that you will have to sacrifice your life style in the initial period?

6. Are you a Thinker or a Manager? This is very important. Are you a creative person who can think and create new products or ideas, or are you a manager who can control the various facets of a business? Very few persons are both. Therefore, if you feel that you are a thinker, you should have a good manager as a partner or as an employee, and vise-versa.

7. Can you identify an opportunity in your surrounding? Are your antennas sharp enough to take a note of the happenings all around you, and to find out what effects they may have on your business? From a mass of data, can you identify which one is pertaining to your business?

8. What does your own business mean to you? You wish to make a quick buck or you wish to grow steadily for a long haul?

9. Can you delegate your work to others and get it done without your much involvement, or you wish to do everything by yourself?

10. Can you take an objective view of your own business? Can you criticize yourself? Can you admit your own mistakes? Can you appreciate the good work done by others?

If you answer these questions to yourself truthfully, and if you feel that you can go through the tough work of becoming a CEO, please go ahead.