Entitled to What?

The American ideal of pulling ourselves up by our bootstraps seems to have gotten lost in our recent economic turmoil. In these days of dependency, welfare, 401K's, and government bailouts have replaced personal accountability. Noted in their book, Who Are They Anyway? authors Gallagher & Ventura , reveal the most important words of personal responsibility are as follows:

The 10 most important words:
I won't wait for others to take the first step.
The 9 most important words:
If it is to be, it's up to me.
The 8 most important words:
If not me, who? If not now, when?
The 7 most important words:
Let me take a shot at it.
The 6 most important words:
I will not pass the buck.
The 5 most important words:
You can count on me.
The 4 most important words:
It IS my job!
The 3 most important words:
Just do it!
The 2 most important words:
I will.
The most important word:
Me

10 Questions for Entrepreneurs

Many of you may remember an earlier posting of the 10 questions for aspiring entrepreneurs as taken from the Wall Street Journal's Feb. 23, 2009, edition. (see Feb 25 and March 1, 2009 et al posts.) Today's post includes a reprint of the the ten questions for aspiring entrepreneurs.

Considering today's economic climate, many people are tossing their names in the entrepreneurial hat and taking their shot a being in business for themselves. And rightfully so. With all the doom and gloom propagated throughout the media today, America's workforce is left feeling powerless and vulnerable. There are countless home-based business opportunities that, in most instances, enable a person to "start a business" with only a few hundred dollars in start-up capital and little, if any, training. Those looking to start a business are usually doing so to get ahead financially. There are only two basic ways to get ahead financially, simply put: lower expenses and make more money. A business is about making a profit, period. Many of these so-called "opportunities" have little to do with business ownership and merely appeal to the desire to get rich. Most are predicated on people paying a start-up fee to sell products with premium-packed pricing. And its from these premiums, the salesperson ("business owner") is paid a commission. Without addressing the specific criteria to be considered when investing in a business, here are ten questions that need be addressed when embarking on the journey of entrepreneurship.

1. Are You Willing and Able to Bear Great Financial Risk?

2. Are You Willing To Sacrifice Your Lifestyle For Potentially Many Years?

3. Is Your Significant Other On Board?

4. Do You Like All Aspects of Running a Business?

5. Are You Comfortable Making Decisions On the Fly With No Playbook?

6.What's Your Track Record on Executing Ideas?

7. How Persuasive and Well-Spoken Are You?

8. Do You Have A Concept You're Passionate About?

9.Are You A Self-Starter?

10. Do You Have A Business Partner?