💡 Are You Ready to Launch Your Business? (Issue 128)

Take my free quiz to find out!

Are you ready to leap into solopreneurship and build your lifestyle business?

Take my free quiz below to find out!

Score each of the following statements on a scale of 1 to 5. A score of 5 means you "strongly agree" with the statement, while a score of 1 means you "strongly disagree" with the statement.

1. Strongly disagree

2. Disagree

3. Neutral

4. Agree

5. Strongly agree

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Solopreneur Readiness Quiz

Score the following statements on a scale of 1-5:

1. I have a clear vision for the business I want to build

2. I can picture where my business will be in 10 years

3. I know what I must do to make my business vision come true

4. I know my mission and the positive change I want to make in people’s lives with what I will offer

5. I know precisely what problem my business solutions will solve

6. I can clearly and succinctly state the value proposition of my solution

7. I have a focused and detailed description of my ideal customer (i.e., my niche)

8. I’ve talked with several people who fit my ideal customer profile to understand their problems, wants, and needs

9. I’m prepared to quit my 9-5 job and go out on my own

10. I have saved money and created a financial cushion that can support me for 6-12 months

11. I have a budget to manage my expenses, cover my benefits (e.g., health insurance), and control my monthly “burn rate” until I’m profitable

12. I have a backup plan that I can quickly put into motion if my business fails

13. I’m comfortable working alone and managing my schedule and productivity

14. I have a place where I can work and focus every day

15. I know exactly what the product or service is that I want to offer

16. I have already prepared my products or services to provide to customers

17. I know how to price my products or services

18. I have created a solid business plan

19. I have created a detailed business model that ensures profitable success

20. I have identified potential sources of revenue to diversify my income

21. I have documented my expected business expenses and the cost of delivering my goods and services

22. I have a marketing and sales plan ready to go

23. I have created a plan to reach my ideal customer through various channels

24. I have a “good enough” name for my business to get started

25. I have a basic brand identity ready for my business (e.g., brand attributes, tagline, good-enough logo)

26. My business name and product name seem to be available for trademark registration

27. I have secured the domain name for my business

28. I have social media accounts to help market my business

29. I have a functional website designed and built for my business

30. I’ve identified potential business resources, services, partners, suppliers, etc.

31. I have determined the appropriate formation for my business (e.g., LLC, corporation, sole proprietorship, partnership, co-op).

32. I have my business systems, services, and tools up and running

33. I’ve identified vendors, specialists, and consultants who can help me with my business (e.g., lawyer, accountant, advisors, virtual assistant)

34. Potential customers can easily find me and communicate with me

35. I understand the competitive landscape and have identified my potential competitors

36. I know exactly how to differentiate my business from competitors and close a sale successfully

37. I could sell my product or service to a potential customer this week

38. I’ve already started selling my products or services

39. I have a supportive community of friends, family members, and business peers

40. I have business advisors I can turn to for help and advice

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Total Score:

Add your scores for the 40 statements and divide by 2 (round up to the nearest whole number). Here's how to interpret your total score:

80-100

• Congrats! You have a pretty clear idea of what you want your business to be and the problems you will solve for customers, and you seem ready to go.

60-79

• You have some ideas for what you want to do with your business and how to run it, but you need to do more research and define things clearly before moving ahead. Check out my newsletter for advice and exercises to help you define and grow your business.

40-59

• Your business ideas and plans are a bit fuzzy in different areas, so use the quiz statements as a framework for investigating the details and preparing more. It might help to schedule a complimentary call with me to discuss your plans.

20-39

• Most details are missing for what you will need to plan and launch your new business. No worries! Now you have some homework to do. Let's talk so I can help you develop a strategy to define your solopreneurial plan.

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I frequently see scores in the 60s when people take this quiz, so don’t be surprised if your score is lower than you hoped. But you can take control of things and make a change! There’s no need to feel stuck. Reach out if you want to talk with me about it.

Do you have friends who should take this quiz too? Please share it with them.

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I’m Larry Cornett, a Freedom Coach who works with ambitious professionals to help them reclaim their power, become invincible, and create new opportunities for their work and lives. Do more of what you love and less of what you hate!

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Photo by Nguyen Dang Hoang Nhu on Unsplash