Inc Magazine this month had a feature on the 6 questions (I only list 5) you need to ask yourself to see if you have the right stuff before starting a business.I have listed their first 5 questions and my take of them.

1. Inc: Do you believe you have what it takes?

Barry: Not the raw skills to run the business, but do you have the passion, the drive and the vision. Can you keep going even when the tank is empty?

2. Inc: Are you able to let other people down?

Barry: You will let other people down. Yourself, your family, your friends, your investors, your customers and your vendors. It’s part of succeeding and failing in business. Dreams die hard. Can you have your dream die and then dream again?

3.Inc:  How do You Handle Set Backs?

Barry: Can you learn what you can if anything, then let go, bounce, move on so you get another chance at success?

4. Inc: Are you an inventor rather than an entrepreneur?

Barry: Inventors have ideas (they are meaningless). Entrepreneurs execute those ideas (can be very profitable).

5. Inc. Can you accept that your company may outgrow you?

Barry: If you are successful, you need to know when to get out. Most entrepreneurs are good starters not finishers. Few of us can take a company from Start up to Fortune 500.

What do you think it takes?