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Personal Strengths and Weaknesses Worksheet

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This worksheet will help individuals identify their strengths and weaknesses and will give
them a better idea if they are ready to start a business. The worksheet asks individuals
to rate their abilities to perform certain skills related to operating a business. The areas
of skills covered are sales, marketing, financial planning, accounting, administrative,
personnel management, business skills and intangibles. After completing the
worksheet, the individuals can total up the numbers to determine if they are ready to
start a new business. This document should be used by individuals who are planning
on starting a business.




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© Copyright Envision Corporation. 2002. All rights reserved. Protected by the copyright laws of the United States & Canada and by International treaties. IT IS   C
ILLEGAL AND STRICTLY PROHIBITED TO DISTRIBUTE, PUBLISH, OFFER FOR SALE, LICENSE OR SUBLICENSE, GIVE OR DISCLOSE TO ANY OTHER                                      o
PARTY, THIS PRODUCT IN HARD COPY OR DIGITAL FORM. ALL OFFENDERS WILL BE SUED IN A COURT OF LAW.
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                                 Personal Strengths and Weaknesses Worksheet                                                                                      r
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                                                                                                                  Rating                                          g
                                   Skills                                                                                                                         h
                                                                                  low                             medium                               high
                                                                                                                                                                  t
 Sales
 Pricing                                                                               1               2              3               4                5          E
                                                                                                                                                                  n
 Buying                                                                                1               2              3               4                5          v
 Sales planning                                                                        1               2              3               4                5          i
 Negotiating                                                                           1               2              3               4                5          s
 Direct selling to buyers                                                              1               2              3               4                5          i
 Customer service follow-up                                                            1               2              3               4                5          o
 Managing other sales reps                                                             1               2              3               4                5          n
 Tracking competitors                                                                  1               2              3               4                5
                                                                                                                                                                  C
 Marketing                                                                                                                                                        o
                                                                                                                                                                  r
 Advertising/promotion/public relations                                                1               2              3               4                5          p
 Annual marketing plans                                                                1               2              3               4                5          o
 Media planning and buying                                                             1               2              3               4                5          r
 Advertising copy writing                                                              1               2              3               4                5          a
 Marketing strategies                                                                  1               2              3               4                5          t
 Distribution channel planning                                                         1               2              3               4                5          i
                                                                                                                                                                  o
 Pricing                                                                               1               2              3               4                5          n
 Packaging                                                                             1               2              3               4                5          .
 Financial planning
                                                                                                                                                                  2
 Cash flow planning                                                                    1               2              3               4                5          0
 Monthly financial                                                                     1               2              3               4                5          0
 Bank relationships                                                                    1               2              3               4                5          2
 Management of credit lines                                                            1               2              3               4                5          .

 Accounting                                                                                                                                                       A
                                                                                                                                                                  l
 Bookkeeping                                                                           1               2              3               4                5          l
 Billing, payables, receivables                                                        1               2              3               4                5
 Monthly profit and loss statements/balance                                            1               2              3               4                5          r
 sheets                                                                                                                                                           i
 Quarterly/annual tax preparation                                                      1               2              3               4                5          g
                                                                                                                                                                  h
 Administrative                                                                                                                                                   t
                                                                                                                                                                  s
 Scheduling                                                                            1               2              3               4                5
 Payroll handling                                                                      1               2              3               4                5          r
 Benefits administration                                                               1               2              3               4                5          e
                                                                                                                                                                  s
 Personnel management                                                                                                                                             e
 Hiring employees                                                                      1               2              3               4                5          r
 Firing employees                                                                      1               2              3               4                5          v
                                                                                                                                                                  e
 Motivating employees                                                                  1               2              3               4                5
                                                                                                                                                                  d
 General management skills                                                             1               2              3               4                5          .

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© Copyright Envision Corporation. 2002. All rights reserved. Protected by the copyright laws of the United States & Canada and by International treaties. IT IS
ILLEGAL AND STRICTLY PROHIBITED TO DISTRIBUTE, PUBLISH, OFFER FOR SALE, LICENSE OR SUBLICENSE, GIVE OR DISCLOSE TO ANY OTHER
PARTY, THIS PRODUCT IN HARD COPY OR DIGITAL FORM. ALL OFFENDERS WILL BE SUED IN A COURT OF LAW.




 Personal business skills
 Oral presentation skills                                                              1               2              3               4                5
 Written communication skills                                                          1               2              3               4                5
 Computer skills                                                                       1               2              3               4                5
 Word processing skills                                                                1               2              3               4                5
 Fax, e-mail experience                                                                1               2              3               4                5
 Organizational skills                                                                 1               2              3               4                5
 Intangibles
 Ability to work long and hard                                                         1               2              3               4                5
 Ability to manage risk and stress                                                     1               2              3               4                5
 Family support                                                                        1               2              3               4                5
 Ability to deal with failure                                                          1               2              3               4                5
 Ability to work alone                                                                 1               2              3               4                5
 Ability to work with and manage others                                                1               2              3               4                5
 Total



After you’ve rated yourself in each area, total up the numbers. Then apply the following
rating scale:

           If your total is less than 20 points, you should reconsider whether owning a
            business is the right step for you.
           If your total is between 20 and 25, you’re on the verge of being ready, but you
            may be wise to spend some time strengthening some of your weaker areas.
           If your total is above 25, you’re ready to start a new business now.




© Copyright 2011 Docstoc Inc. registered document proprietary, copy not                                                                       3
© Copyright Envision Corporation. 2002. All rights reserved. Protected by the copyright laws of the United States & Canada and by International treaties. IT IS
ILLEGAL AND STRICTLY PROHIBITED TO DISTRIBUTE, PUBLISH, OFFER FOR SALE, LICENSE OR SUBLICENSE, GIVE OR DISCLOSE TO ANY OTHER
PARTY, THIS PRODUCT IN HARD COPY OR DIGITAL FORM. ALL OFFENDERS WILL BE SUED IN A COURT OF LAW.



				
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Description: This chart will help you identify your strengths and weaknesses and will give you a better idea if you’re ready to become a small business owner. Carefully examine each of the skills areas listed in the chart. Ask yourself whether you possess some or all of the skills listed in the parentheses. Then rate your skills in each area by circling the appropriate number, using a scale of 1-5, with 1 as low, 2 as between low and medium, 3 as medium, 4 as between medium and high, and 5 as high.