Comments on: Simple Risk-Aversion Test to See if You can Make it as an Entrepreneur http://meetjohnsong.com/2009/11/20/simple-risk-averse-test-to-see-if-you-can-make-it-as-an-entrepreneur/ A blog Mon, 12 Jul 2010 18:15:00 +0000 hourly 1 http://wordpress.com/ By: meetjohnsong http://meetjohnsong.com/2009/11/20/simple-risk-averse-test-to-see-if-you-can-make-it-as-an-entrepreneur/#comment-530 meetjohnsong Sun, 22 Nov 2009 07:21:06 +0000 http://meetjohnsong.com/?p=1043#comment-530 China Law: Thanks for sharing and best wishes on your venture. Yes, it's kind of fun to use the test. Of course, there are many other factors that determine whether someone will be a successful entrepreneur. But then, you knew that alread being one yourself. China Law: Thanks for sharing and best wishes on your venture. Yes, it’s kind of fun to use the test. Of course, there are many other factors that determine whether someone will be a successful entrepreneur. But then, you knew that alread being one yourself.

]]> By: China Law http://meetjohnsong.com/2009/11/20/simple-risk-averse-test-to-see-if-you-can-make-it-as-an-entrepreneur/#comment-529 China Law Sat, 21 Nov 2009 16:07:12 +0000 http://meetjohnsong.com/?p=1043#comment-529 Great test! I started my own company and I actually enjoy trying to see how far I can go on a low tank. One of my most conservative friends (who works for big healthcare) told me that ever since he was a young child, he has worried so much about running out of gas, he always tries to re-fill the tank before it even gets half full. He would (both truly and admittedly) make a terrible entrepreneur. I am going to start using this test on people. Great test! I started my own company and I actually enjoy trying to see how far I can go on a low tank. One of my most conservative friends (who works for big healthcare) told me that ever since he was a young child, he has worried so much about running out of gas, he always tries to re-fill the tank before it even gets half full. He would (both truly and admittedly) make a terrible entrepreneur.

I am going to start using this test on people.

]]> By: Ask This CFO http://meetjohnsong.com/2009/11/20/simple-risk-averse-test-to-see-if-you-can-make-it-as-an-entrepreneur/#comment-527 Ask This CFO Sat, 21 Nov 2009 01:23:33 +0000 http://meetjohnsong.com/?p=1043#comment-527 You read my mind! Of all those who answer the call of entrepreneurship, most fail. But why is that? What is it about some entrepreneurs that make them successful? What is their recipe for success? Before embarking on your journey of self-employment ask yourself the tough question. Do you have what it takes? It is true: only about 30% of startups survive after the five-year mark. Perhaps the two most common reasons for this are that entrepreneurs tend to lack the necessary skills to execute their idea and that they grossly underestimate the capital and resources needed for the startup to be successful. Ask yourself, why are you starting a new venture? Don’t be afraid to be aggressive, as long as you remain realistic. Be specific and consistent, in what you want. In terms of money, are you trying to realize your earning potential by taking matters boldly into your own hands? Or are you sick of corporate downsizing? Do you simply want more of the pie to replace what you’ve lost or supplement what you already have? Now, let us not forget perhaps the most important echelon of pursuits: personal goals. What drives you? Do you thrive on freedom, flexibility, and security, or are you looking for recognition, job satisfaction, and a chance for professional growth? It could simply be a change of career or particular retirement goals that drive you. No matter what your reasons for self-employment are the pertinent question still remains. Do you have what it takes? .... Check out my blog on a similar thread http://askthiscfo.wordpress.com You read my mind! Of all those who answer the call of entrepreneurship, most fail. But why is that? What is it about some entrepreneurs that make them successful? What is their recipe for success?

Before embarking on your journey of self-employment ask yourself the tough question. Do you have what it takes? It is true: only about 30% of startups survive after the five-year mark. Perhaps the two most common reasons for this are that entrepreneurs tend to lack the necessary skills to execute their idea and that they grossly underestimate the capital and resources needed for the startup to be successful.

Ask yourself, why are you starting a new venture? Don’t be afraid to be aggressive, as long as you remain realistic. Be specific and consistent, in what you want. In terms of money, are you trying to realize your earning potential by taking matters boldly into your own hands? Or are you sick of corporate downsizing? Do you simply want more of the pie to replace what you’ve lost or supplement what you already have? Now, let us not forget perhaps the most important echelon of pursuits: personal goals. What drives you? Do you thrive on freedom, flexibility, and security, or are you looking for recognition, job satisfaction, and a chance for professional growth? It could simply be a change of career or particular retirement goals that drive you. No matter what your reasons for self-employment are the pertinent question still remains.

Do you have what it takes? ….

Check out my blog on a similar thread http://askthiscfo.wordpress.com

]]> By: meetjohnsong http://meetjohnsong.com/2009/11/20/simple-risk-averse-test-to-see-if-you-can-make-it-as-an-entrepreneur/#comment-526 meetjohnsong Sat, 21 Nov 2009 00:29:46 +0000 http://meetjohnsong.com/?p=1043#comment-526 Shane: Thanks :). And Jiawen is right. I actually love it when I'm squeezing in 19.9 gallons into my 20 gallon tank. That means I was on the edge! Shane: Thanks :) . And Jiawen is right. I actually love it when I’m squeezing in 19.9 gallons into my 20 gallon tank. That means I was on the edge!

]]> By: Jiawen http://meetjohnsong.com/2009/11/20/simple-risk-averse-test-to-see-if-you-can-make-it-as-an-entrepreneur/#comment-525 Jiawen Fri, 20 Nov 2009 23:46:04 +0000 http://meetjohnsong.com/?p=1043#comment-525 Yup, you have to be a little "crazy" to be an entrepreneur! :) Yup, you have to be a little “crazy” to be an entrepreneur! :)

]]> By: Shane Rai http://meetjohnsong.com/2009/11/20/simple-risk-averse-test-to-see-if-you-can-make-it-as-an-entrepreneur/#comment-524 Shane Rai Fri, 20 Nov 2009 23:21:09 +0000 http://meetjohnsong.com/?p=1043#comment-524 I think I know who that person is :) Nice, short and sweet blog post that forces to re-look at some of the fundamental traits needed in entrepreneurship and re-evaluate one's fit with that lifestyle. Golden nuggets of information, John. Keep 'em coming in your blogs :) I think I know who that person is :) Nice, short and sweet blog post that forces to re-look at some of the fundamental traits needed in entrepreneurship and re-evaluate one’s fit with that lifestyle. Golden nuggets of information, John. Keep ‘em coming in your blogs :)

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