Quiz: Am I Cut Out To Be an Entrepreneur?

Oct 2, 2010

Am I Cut Out to Be an Entrepreneur?

Look over the 30 statements below and put a check in the box if the statement is true or mostly true for you. Then read the explanation below.

  1.  I am a self-starter and capable of creating and following a structure
  2.  I am good at doing market research and figuring out how to make a profit or price my product/service
  3.  I like constantly networking and meeting new people
  4.  I am comfortable promoting myself (without seeming pushy or self-involved)
  5.  I am good at making decisions constantly and independently, even in grey areas
  6.  I manage my personal finances well, and I know how to track, budget and save money
  7.  I am prepared to work long days, and can handle stress
  8.  I am good at creating other people’s interest in my ideas or products
  9.  My family is on board and can handle the uncertainty of self-employment
  10.  I am both a big picture thinker and detail-oriented person
  11.  I finish projects that I’ve started (instead of starting many but not finishing them)
  12.  I have an idea, an initial plan, and a formal or informal “board of directors” or mentors
  13.  I am confident and don’t feel like I need a job title or employer to feel secure
  14.  I seek out feedback, criticism and new ideas and am always looking to improve
  15.  I am pretty creative and am always generating new ideas
  16.  I know how to use social media and other marketing avenues to get the word out
  17.  I know where to get resources for a new business
  18.  I have at least a year’s worth of expenses saved and am prepared to weather strong financial challenges
  19.  I don’t make impulsive decisions; I can do detailed research when required
  20.  I see an income opportunity that I can take advantage of
  21.  I have a skill or expertise that sets me apart from others and that I can leverage in this business
  22.  I have researched other similar businesses, know the challenges, and am firm in my desire to start a business
  23.  I am realistic about how long it will take to be financially successful (typically 3-5+ years)
  24.  I have entrepreneurs in my close family or circle of friends who can serve as mentors
  25.  I am good at articulating a vision and being a spokesperson (media, public speaking, blogging)
  26.  I know how to find, assess, hire, manage and inspire employees
  27.  I have previously started a business
  28.  I have good communication skills and can manage conflict appropriately
  29.  I have “grit”: I can stick it out when times get tough and I keep working hard
  30.  I understand the basics of accounting, sales and marketing

These statements are characteristics of successful entrepreneurial business owners. The more boxes that are checked predict the increased likelihood of your success. Keep in mind that not all entrepreneurs start their own businesses but some function successfully within a company with their entrepreneurial spirit. The unchecked boxes give you ideas for areas that you can work on yourself, or hire outside talent to fit these roles.