The Entrepreneur Test

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Small business and government grants resources home

The Entrepreneur Test

The first question you should answer when you are thinking of going into business is "Am I the type?" You will be your most important employee. It is more important that you rate yourself objectively than how you rate any prospective employee. Appraise your strengths and your weaknesses. As a prospective operator of your own business, acknowledge that you are weak in certain areas and cover the deficiency by either retraining yourself or hiring someone with the necessary skill. The questions in this test indicate to what extent you have the personal traits important to a business proprietor.

Instructions: Read each question and click on one of the suggested answers. Respond by marking the answer that most accurately describes your behavior, feeling or attitude as it actually is, not as you would like it to be, or think it should. You must be absolutely honest with yourself in order to get a valid score.


 

    1. Are You a Self-Starter?

    If someone gets me started, I keep going all right.

    I do things my own way. Nobody needs to tell me to get going.

    Easy does it. I don't put myself out until I have to.

  
2. How Do You Feel About Other People?

Most people bug me.

I like people. I can get along with just about anybody.

I have enough friends and I don't need anybody else.

3. Can You Lead Others?

I can get people to do things if I drive them.

I can get most people to go along with me without much difficulty.

I usually let someone else get things moving.

  
4. Can You Take Responsibility?

I'll take over if I have to, but I'd rather let someone else be responsible.

There's always some eager beaver around waiting to show off. I say, let him.

I like to take charge of and see things through.


5. How Good An Organizer Are You?

I like to have a plan before I start. I'm usually the one who lines things up.

I do all right unless things get too complicated. Then I may cop out.

I just take things as they come.

  
6. How Good a Worker Are You?

I can't see that hard work gets you anywhere.

I'll work hard for a time, but when I've had enough, that's it.

I can keep going as long as necessary. I don't mind working hard.

  
7. Can You Make Decisions?

I can if I have plenty of time. If I have to make up my mind fast, I usually regret it.

I can make up my mind in a hurry if necessary, and my decision is usually O.K.

I don't like to be the one who decides things. I'd probably blow it.


8. Can People Trust What You Say?

I try to be on the level, but sometimes I just say what's easiest.

They sure can. I don't say things I don't mean.

What's the sweat if the other fellow doesn't know the difference?


9. Can You Stick With It?

If I make up my mind to do something, I don't let anything stop me.

If a job doesn't go right, I turn off. Why beat your brains out?

I usually finish what I start.


10. Can You Keep Records?

Records are not important. I know what's need to be known without keeping records.

I can, but it's more important to get the work out than to shuffle numbers.

Since they are needed I'll keep records even though I don't want to.

That's it ...


Grading

Score 100
Excellent. A perfect score. You are a born entrepreneur. If you are not presently running your own business you should definitely start one -- the sooner the better. You are on the way to fame and riches.

Score 91 - 99
Very good. You definitely have what it takes to succeed in a business of your own. Don't hesitate, your way to business success is wide open.

Score 72 - 90
Good. You have the qualities of a successful entrepreneur with some weak spots. Read the interpretation below to identify your deficiency. You should be able to cover that deficiency by either retraining yourself or hiring someone with the necessary skill.

Score 40 - 71
So so. The prospect of your success in a business of your own is questionable. You have some deficiencies that might out-shadow some good traits you have. If you still want to go on with it, be sure to call up all the persistence you can get. You are going to face some tough adversity on the way.

Score 40 and below
Unsatisfactory. Forget your dreams of being your own boss, it's not for you. You'd better keep your comfortable and secure job. Why bother with all the risks and hustles of starting a business.

 

 

Are You Making Any of These 10 Deadly
Small Business Mistakes?

These traps/mistakes are common to many entrepreneurs and small business owners:

1. Getting Wedded To an Idea And Sticking With It Too Long.
Don't marry a single idea. Remember, ideas are the currency of entrepreneurs. Play with many ideas and see which ones bring money and success.

2. No Marketing Plan.
A marketing plan creates the kind of attention you need to get in front of the right types of people, companies, etc. It is what attracts people to you! There may be as many as 25 ways to market your business at no or low cost. A good marketing plan implemented effectively, efficiently, elegantly and consistently, will eliminate the need for "cold calls!"

3. Not Knowing Your Customers.
Changes in your customers' preferences and your competitors' products and services can leave you in the dust unless you get to know your customers well, what they want now and will likely want in the future, what their buying patterns are, and how you can be a resource for them even if you don't have the right products or services for them now!

4. Ignoring Your Cash Position.
The world (aka customers) doesn't respond to even superior products in the timeframe that you think they should. You'll need plenty of cash to sustain yourself in the meantime.

5. Ignoring Employees.
Motivating, coaching and managing your staff is probably one of your toughest challenges as an entrepreneur/business owner today! Without your patience, persistence and "people skills," your problems can multiply quickly. Morale, productivity AND PROFITS can easily be destroyed!

6. Confusing Likelihood With Reality.
The successful entrepreneur lives in a world of likelihood but spends money in the world of reality.

7. No Sales Plan.
Without a sales plan, there's no serious way to gage the financial growth and progress of your business. You need a realistic map for where the sales will come from, how they'll come and from whom.

8. Being a Lone Ranger.
You might be the key to everything BUT you cannot DO everything and grow at the same time. Even modest success can overwhelm you unless you hire the right staff and delegate responsibility.

9. No Mastermind.
Get an advisory board or a mentor! Sounds crazy for a small operation? It's not! The board can be family members that you trust, or friends. Ask them to be your board of directors and review your business plans and results with them. Having someone to bounce ideas off and get an objective opinion is critical.

10. Giving Up.
Some of the most successful entrepreneurs failed several times before doing extremely well. So, if you're failing, fail. And fail fast. And learn. And try again, with this new wisdom. Do NOT give up. Yet, do not suffer, either.

 



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