Want To Be An Entrepreneur? Take This Test To See If You’re Ready
Is Entrepreneurship for You?
Create value out of thin air
Entrepreneurs have a knack for finding value in places where others don’t even think to look. They can evaluate value propositions quickly to determine which options should be pursued and which should be dumped. Value destruction is avoided like the plague because value creation is the primary goal.
Question 1: During problem-solving discussions with co-workers, are you usually the one to come up with the solutions that eventually get enacted?
Question 2: Do you respond to most of your day-to-day problems with the financial health of the company as a major consideration?
Question 3: Are you frustrated when you see evidence of wasteful spending and an attitude that says, “It ain’t my money, I seriously do not care”?
“Never give in! Never give in! Never! Never! Never!”
Winston Churchill got it right for his challenges, and when you start your own business there will be many times when you will feel as though your only option is to give in, give up and give out, but don’t! Never surrender. We’re talking about a succeed-or-die-trying kind of tenacity that is uncommon to say the least. The main thing to remember is that there is always a way—you just have to keep analyzing and adjusting until you find it. Look, if this were easy, everybody would be doing it.
Question 4: Have you become known as the person who gets the assignments that are too difficult for others to accomplish?
Question 5: When you fail at a task do you take it as a challenge, resulting in an increased desire to figure out how to succeed?
Question 6: Are you comfortable making multiple attempts before eventually solving difficult challenges?
Give first, get paid later
Entrepreneurs know they must deliver the value of their offerings first and, if that value meets or exceeds customer expectations, they will be rewarded. The opposite is true for the majority of employees, who believe that they should not have to give more unless they first get more. “Give me a raise and I will show you what I am really capable of,” is the all-too-common attitude. It is ironic, however, that the entrepreneur’s approach is actually the strategy that works best for employees, too.
Question 7: Have some of your most significant raises, bonuses and promotions come from “showing your stuff” first, without agreeing to an incentive in advance?
Question 8: Are you confident that when your superiors see the outcomes you produce, they will try to adequately recognize and reward you, as they are able?
Question 9: Do you believe that even if your excellent work is not immediately rewarded, you will ultimately benefit because of your knowledge and experience?
Rise above the pettiness
Successful business owners have a low tolerance for the countless distractions that come from small-mindedness. Gossip, selfishness, politics, jealousy, turfism and the like should have no place in a customer-centric business. While these factors are almost always a part of larger companies, they cannot be allowed in a new venture, as they will rapidly sink it. Your current handling of these issues is a good indication of how well you would do as an entrepreneur.
Question 10: Are you the last person your co-workers would come to when “venting” about how unfairly they were treated by so-and-so in a recent meeting?
Question 11: Do you hold others accountable when they engage in self-promoting behaviors at the expense of the company?
Question 12: Have you had a track record of success when attempting to steer personal conversations and time-wasting distractions back to the core business?
Become the best communicator in the company
Entrepreneurs wear many hats, but the most important role is that of communicator extraordinaire. As the owner, you will be required to articulate the vision and mission of your company. You must become the most potent sales person, most effective mediator of employee conflicts, most effective facilitator of meetings, and best composer of critical emails, collateral materials and the company strategy. No pressure, but you’ll have to be extremely adept at communication in all of its forms. How good are you right now?
Question 13: Are you regularly given written materials to proofread one last time before they go out?
Question 14: Do your teammates most often choose you to make the crucial presentations to management, clients or prospects?
Question 15: Are you called upon frequently to explain processes and procedures to new hires, or to deal with highly irritated customers?
Your Entrepreneurial Readiness score is based on your number of yeses:
0—5 You should keep your day job and be happy about it.
6—10 You have potential and can improve with effort. Read books and get coaching in the categories where you are weakest. When you start your business, hire for strength in any area where you remain less than satisfactory.
11—15 Print your business cards, set up your website and finish your business plan! You’ll be ready to open your business as soon as you can secure funding.
*For a broader (and possibly more accurate) view of your strengths and weaknesses, ask three trusted co-workers to candidly evaluate you on the 15 survey questions.
Not that I would ever try to discourage you from becoming an entrepreneur, but you may find that the more you improve in the categories shown in this article, the more beneficial to your current company you will become. It is very likely that, as you increase the value you create, you may be enticed by management to stay rather than go out on your own. Seems like a no-lose scenario to me. Either way, I wish you the best of success in your future adventures, whether intrapreneurial or entrepreneurial.
This quiz is an excerpt from Forbes READ MORE HERE
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