Thinking of starting a business? Before you dive in, ask yourself this: Do you have what it takes to be an entrepreneur?
The following quiz for would-be entrepreneurs will help you decide if you have the ability to turn your dreams into reality.
Get set, go!
Instructions: Answer the following with a simple Yes, No, or Maybe.
Be truthful with yourself. Think about actual times these questions applied to you, vs. answering strictly based on your general skills or knowledge. Consider past experiences that may have a bearing on a particular question. For example, with a question like “Can you lead people effectively?” assess related roles you’ve had (for school, work, family or elsewhere) and how you performed.
- Would you call yourself a self-starter? (Someone who takes the initiative and does not need someone else to get him/her started on a project)
- Would you call yourself a “people-person”? Do you get along with clients, friends and people in general?
- Do you believe in giving your word and standing by it, no matter what?
- Do you prefer leading (say in group projects or initiatives)? Can you lead people effectively?
- Do you believe leaders must assume responsibility for the failure of their teams?
- Can you make decisions comfortably?
- Would you call yourself a good employee?
- Would you call yourself a good organizer/record-keeper?
- Do unexpected turn of events take you completely off guard?
- Can you adapt to changes fast? (e.g., technology, relationships, living/working environments, etc.)
- Would you call yourself “money wise”?
- Can you multitask?
- Do you think delayed gratifications are worth the hard work? Can you toil away for a year or two without seeing results and yet keep up with the hard work?
- Will you be able to live comfortably for 1-2 years or more with little to no money/income from your business venture? (include peace of mind, money, resources, social status, self-respect and other factors as part of “living comfortably”)
- Have you started any business, no matter how big/small or how successful/unsuccessful, before the age of 18? (your childhood lemonade-stand business counts)
Evaluating your answers
- 12 or more answered ‘Yes’ – You were born to be an entrepreneur! Start looking for your top startup tools and let the planning begin.
- 10 to 12 answered ‘Yes’ – You are almost there. Brush up on the skills you don’t have and you’re good to go!
- 7 to 10 answered ‘Yes’ and others ‘Maybe’ – You can definitely get there, but it will take a lot of work. But hey! Entrepreneurship takes a lot of work as well! So get started on honing your entrepreneurial skills.
- Answered under 7 ‘Yes’, mostly ‘Maybe’ and under 3 ‘No’ – You definitely have good traits, but they may be overshadowed by some deficiencies. However, if you still want to try, go ahead. Just remember, you will face some significant adversities, but nothing you can’t get through.
- Answered mostly ‘No’ – It may be the best for you to stick to your current job and not take any immediate risks with entrepreneurship. Of course, work on the things that can be improved. And come back later for the quiz…maybe after an year or two.
Clipboard icon credit: Created by Demograph from the Noun Project
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