Are you Santa Claus or are you an elf? This may sound silly at first, but the first step, according to Roth is to ensure that you have the personality to lead a team. "Santa Claus has the whole strategic vision and breaks down all the different tasks and oversees everything where each elf then executes only one or a couple of things." She says.  "Do you like to have the vision, do you like to really oversee and wear multiple hats, or are you somebody who does a lot better when you're given a really specific task?  If you're more like an elf, then you're definitely not suited for entrepreneurship."

Are you cut out for risky business? There's always a high degree of risk in launching a venture and it's important to gauge your tolerance beforehand. "There are a lot of very high highs and a lot of very low lows in entrepreneurship and you don't have a lot of visibility on that," Roth says. So, it is very much like being on a roller coaster, and so you're up and you're down and all of a sudden you hit a corkscrew. Are you somebody who can go with that or does that make you very uncomfortable?"

What's your motivation? According to Roth, a lot of aspiring entrepreneurs go in with the wrong mindset. "A lot of entrepreneurs are very focused on themselves.  They're not happy in their job and looking to be more fulfilled, or they have a passion, or a creativity, or they want more," she says.  "But, business isn't about you; it's about your customers.  The businesses that thrive and succeed are the ones that address a customer need and service that better than anybody else can.  If you're not entirely focused on your customer, you're not going to succeed as a businessperson."