If asked whether they had the "right stuff" to run a small business, most people who are interested in starting a new business would answer with a resounding "yes." But the purpose of this section is not to arrive at a yes or a no answer; it's really just to help you evaluate your strengths and weaknesses so that you'll be in a better position to make certain decisions that you'll have to make before you start a new small business.

For example, should you take on partners? Should you hire an accountant or a lawyer? Should you hire a store manager (if you're opening a retail business)? Should you work from home? Your answer to these questions and many others will depend in large part upon which skills you have and which skills you lack.

To begin the process of examining your strengths and weaknesses, select one of the following:

• The first step is assessing your strengths and weaknesses.
• The second step is looking at the personality traits of a successful owner.
• The third step is comparing the two lists and deciding what to do.
• If you already feel that you know your strengths and weaknesses, you can move straight to evaluating your chances for success, which is an evaluation of your business idea, as opposed to an evaluation of yourself.

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