Top Ten Secrets to Making your Business Soar – Secret 5.   Last week I revealed Secret 4 to making your business soar of 10 fundamental principles that are typically missed when developing business plans and strategic planning initiatives.  This week I reveal Secret 5.  Continue to rate yourself in each of these fundamental principles.  At the tenth secret, total your score to see if your business strategy is designed for success.

5.    ARE YOU AN ENTREPRENEUR….AT WHAT LEVEL?

Successful entrepreneurs have drive, are willing to take risks, and demonstrate great initiative to own their own business. What is your level of risk tolerance and how determined are you to be successful?  How long are you willing to wait to be a successful business owner?    The owner’s level of risk must be in alignment with the business strategy and considered in managing daily operations.

When answering these questions, please take into consideration your tolerance of financial risk.  

Answer these questions to rate your level of risk tolerance related to owning a business. On a scale from 1 to 5:    

·         If your business plan describes the owner(s) tolerance of financial risk and the business operations are designed accordingly, rate yourself a 5.

·         If your business plan does not document the owner(s) tolerance of financial risk, but they are considered in the business’ daily operations, rate yourself a 4.

·         If you have business partners and each have a different tolerance of financial risk and your business plan identifies how to handle these gaps, rate yourself a 3.

·         If you have business partners and each have a different tolerance of financial risk and you do not identify how to handle these gaps, rate yourself a 2.

·         If you do not consider the owner(s) tolerance for financial risk in the business’ daily operations, rate yourself a 1.

Check this site next Wednesday for Secret 6.  If you can’t wait, check out my website subscribe for the complete article.  www.entrepreneurssecret.com