Many good companies started as a self-employment venture, where one or more individuals ardently poured all that is necessary into becoming successful entrepreneurs. However, self-employment is not for everyone. No one should know this better than you if you are planning to become an entrepreneur. Knowing yourself will make the difference between realizing a successful entrepreneurship dream or rolling up shop and moving back with your parents while you pay off your accrued debt.

One of the first things to consider is a matter of skill. Are you comfortable enough with your talent to offer it as a service or product? Your service or product does not have to be unique, it must however show enough professionalism and experience to capture and maintain a customer-base. You must be able to interest strangers, not just your friends and family.

Another question is how resourceful are you? If your self-employed business is based on a tangible product, where are you getting your resources? Are they readily available and relatively easy for you to access? If you are not able to warehouse your inventory or raw material, then you will be dependent on a manufacture. How reliable is that source and do you have a secondary plan for supplying your business.

Tracy Coenen in her article “Are you cut out to be self-employed?” suggests that individuals who are embarking on the path of entrepreneurship ask themselves 4 very important questions. (http://www.walletpop.com/2008/01/21/are-you-cut-out-to-be-self-employed/)

First, “have you saved enough money?” The expense involved in starting your own business can be overwhelming and the cause of failure if you don’t have enough.

Second, “are you ready to go beyond the nine-to-five?” As in every new venture, the time you invest is well spent. With your own business, you will definitely need to put in the hours to increase your chances of success.

Next on the list is “do you envision a life of glamour?” If so, either rethink your plans now or hold that thought for a few years while you perform the grunge work involved in starting a new business.

One of the most important questions Coenen asks is “are you disciplined?” For you would need to be. As an entrepreneur, you do not have a punch clock, so hours spent on the job will show on your bottom-line. You are your own boss, so a sick day spent doing your personal shopping or lunching with friends is a direct lost of profit and totally your responsibility.

There are many challenging aspects of self-employment, but there are equally as many rewards. Investing time for introspection and research in your area of business will benefit you from the very start.