Quiz: Do You Have What It Takes To Be An Entrepreneur?

on March 18, 2016

Are you really cut out for owning your own small business? To help you decide, take the following quiz. It will help you evaluate your qualifications. As you take the quiz, though, it is important to be perfectly honest. There is no point in answering the questions “right” if the answers are not true for you.

Test Your Entrepreneurship IQ
1. Are you a self-starter?

a) Yes, I like to think up ideas and implement them. (5 points)

b) If someone helps me get started, I will definitely follow through. (3 points)

c) Frankly, I would rather follow than lead. (1 point)

2. How do you feel about taking risks?

a) I really like the feeling of being on the edge a bit. (5 points)

b) Calculated risks are acceptable at times. (3 points)

c) I like the tried and true. (1 point)

3. Are you a leader?

a) Yes. (5 points)

b) Yes, when necessary. (3 points)

c) No, not really. (1 point)

4. Can you and your family live without a regular paycheck?

a) Yes, if that is what it takes. (5 points)

b) I would rather not, but I understand that may be part of the process. (3 points)

c) I do not like that idea at all. (1 point)

5. Could you fire someone who really needed the job your business provided?

a) Yes, I may not like it, but that’s the way it goes sometimes. (5 points)

b) I hope so. (3 points)

c) I really can’t see myself doing that. (1 point)

6. Are you willing to work 60 hours a week or more?

a) Yes, if that is what it takes. (5 points)

b) Maybe in the beginning. (3 points)

c) I think many other things are more important than work. (1 point)

7. Are you self-confident?

a) You bet! (5 points)

b) Most of the time. (3 points)

c) Unfortunately, that is not one of my strong suits. (1 point)

8. Can you live with uncertainty?

a) Yes. (5 points)

b) If I have to, but I don’t like it. (3 points)

c) No, I like knowing what to expect. (1 point)

9. Once you put your mind to something, can you stick with it?

a) I do not let anything get in my way. (5 points)

b) Most of the time, if I like what I am doing. (3 points)

c) Not always. (1 point)

10. Are you creative?

a) Yes, I have a lot of good ideas. (5 points)

b) I can be. (3 points)

c) No, not really. (1 point)

11. Are you competitive?

a) To a fault. (5 points)

b) Sure, mostly. (3 points)

c) Not really, my nature is more laid back. (1 point)

12. Do you have a lot of willpower and self-discipline?

a) Yes. (5 points)

b) I am disciplined when I need to be. (3 points)

c) Not really. (1 point)

13. Are you individualistic, or would you rather go along with the crowd?

a) I like to think things through myself and do things my way. (5 points)

b) I am sometimes an original. (3 points)

c) I think strongly individualistic people are a bit strange. (1 point)

14. Can you live without structure?

a) Yes. (5 points)

b) Actually, the idea of living without a regular job makes me nervous. (3 points)

c) No, I like routine and structure in my life. (1 point)

15. Do you have many business skills?

a) Yes, I do, and those I don’t have, I’ll learn. (5 points)

b) I have some. (3 points)

c) No, not really. (1 point)

16. Are you flexible and willing to change course when things are not going your way?

a) Yes. (5 points)

b) I like to think so, but others may disagree. (3 points)

c) No, I have a fairly rigid personality. (1 point)

17. Do you have experience in the business you are thinking of starting?

a) Yes. (5 points)

b) Some. (3 points)

c) No. (1 point)

18. Could you competently perform multiple business tasks: accounting, sales, marketing, and so on?

a) I sure would like to try! (5 points)

b) I hope so. (3 points)

c) That sounds intimidating. (1 point)

19. Can you juggle multiple tasks?

a) Yes. (5 points)

b) I think so. (3 points)

c) I don’t think so. (1 point)

20. Are you willing to hustle for clients and customers?

a) Sure. (5 points)

b) If I have to. (3 points)

c) I would rather not. (1 point)

Scoring
80–100: You have both the temperament and the skills to become an entrepreneur.

60–79: You are not a natural entrepreneur but may become one over time.

Below 60: You would be wise to think of another career besides self-employment.

© 2016 The Strauss Group, Inc.