Will it work?

Anyone who doesn't sign their own paycheck doesn't understand the challenges faced with being in business for oneself. It takes guts. Real courage to weather the storm when things go wrong. Never forget, there are always things that go wrong. Many entrepreneurs confess that having a job is easier than owning a business. Yet they choose to do the more challenging of the two.

Not everyone is cut out to be an entrepreneur. People who work for others only see the greener grass. They see the money, the nicer house or the fancy vacation. They may not see the 24-7 aspect of living. Entrepreneurship is not a career choice. It's a way of life.

I'm approached by friends, family and sometimes complete strangers constantly about the viability of a business idea.  Here's the different types of answers I've given over the years.

Q: Will this idea work?

A1: It will only work as hard as you do. Are you prepared to work harder than you've ever done in your life?

A2: Have you written a business plan and/or done some research?

A3: An idea is only as good as the paper it's written on. It's the execution that will determine if you're to have success.

A4: I have at least 5 good ideas every day. Most of them don't work because I'm not committed to carry them through. Are you?

A5: What are your goals and vision for the company?

A6: Do you have access to enough capital (money) to execute the idea?

A7: If you would have asked me about a Tim Horton's franchise in the 1960's, I would have said you were crazy. That's how much I know about business. I'm probably the wrong guy to ask.

A8: What are you prepared to sacrifice for this idea?

There are no guarantees to success in business. One person can fail miserably, while the other makes her riches in the same enterprise. Timing, hard work, commitment, capital, vision, execution and sacrifice all play a role in the success of the business. The idea itself is only a small component to success.

The next time you have an idea about a business, read these 8 answers. Once you've taken the gut check and still feel confident, go ask an entrepreneur what they think of your idea.

Will you work? If not, I guarantee neither will your idea...