The single most important factor in the success or failure of a new enterprise is the people. Do you have the personal resources necessary successfully to withstand the rigors of starting a business of your own? Measure yourself and see.
May of the topics that covers upstarting business enterprises will appear to be just plain common sense. Yet, on the average, more than 2,000 firms are discontinued every day of the year. The single greatest underlying cause of business failure, or bankruptcy, is incompetence, which accounts for approximately 90 percent of the total failures. Before you take the chance of becoming one of the 2,000, consider your personal capabilities.
Competence
There is no one who can be completely objective in evaluating his own competence. Competence constitutes a measure of one's ability to gather information, evaluate it, and arrive at operational decisions with a high percentage of right answers quickly, in order to render these decisions maximally effective. Generally, the information that must be evaluated is less than complete. Accordingly, imagination, an ability to read between the lines, the maturity of judgment necessary to recognize when a decision must be made with or with out all the facts, and the guts to say, We will do it this way, are the signs of the competent manager.
Fear of making a wrong judgment causes the administrative paralysis that is a sure sign of incompetence.
The competent individual do not fear any person, place, thing, situation, circumstances or conditions. They dare to be great, and therefore, Perform Beyond The Genius Level.
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