Entrepreneurs

Are you ready to be famous? Before making the final decision about going into business, a prospective entrepreneur needs to ask a number of personal questions. Take this entrepreneurship quiz. Ten of the most important ones are listed here. As you read, mark the response that best describes you. Complete the following by checking the box that most closely matches your answer. Follow the instructions at the end to ascertain your score.

“Much to my surprise and delight, students in the Foundations self-ranked themselves very highly” — Professor Frederick

A     Are you a self-starter?

  • 3   I can get going without help from others.
  • 2   Once someone gets me going, I am just fine.
  • 1    I take things easy and do not move until I have to.

B     How do you feel about others?

  • 3   I can get along with just about anyone.
  • 2   I do not need anyone else.
  • 1    People irritate me.

C     Can you lead people?

  • 3   I can get most people to go along with me once I start something.
  • 2   I can give the orders if someone tells me what should be done.
  • 1   I let someone else get things done and go along if I like it.

D     Can you take responsibility?

  • 3   I take charge and see things through.
  • 2   I’ll take over if necessary but would rather let someone else be responsible.
  • 1    If someone is around who wants to do it, I let him or her.

E     Are you an organiser?

  • 3   I like to have a plan before I begin.
  • 2   I do all right unless things get too confusing, in which case I quit.
  • 1   Whenever I have things all set up, something always comes along to disrupt the plan, so I take things as they come.

F      Are you a hard worker?

  • 3   I can keep going as long as necessary.
  • 2   I work hard for a while, but then that’s it.
  • 1   I cannot see that hard work gets you anywhere.

6      Can you make decisions?

  • 3   I can make decisions, and they usually turn out pretty well.
  • 2   I can make decisions if I have plenty of time, but fast decision making upsets me.
  • 1   I do not like to be the one who has to decide things.

H     Can people rely on your word?

  • 3   Yes, I do not say things I do not mean.
  • 2   I try to level with people, but sometimes I say what is easiest.
  • 1   Why bother? The other person does not know the difference.

I       Can you stick with it?

  • 3   When I make up my mind to do something, nothing stops me.
  • 2   I usually finish what I start.
  • 1   If things start to go awry, I usually quit.

J      How good is your health?

  • 3   Excellent.
  • 2   Pretty good.
  • 1 Okay, but it has been better.

The first item is worth three, the second 2 and the third is worth 1 point.  Total these three numbers. Of a possible 30 total points, a potentially successful entrepreneur should have at least 25 points. If not, the prospective entrepreneur should consider bringing in a partner or abandoning the idea of going into business alone. The potential entrepreneur should always keep in mind these personal factors while formulating the action plan.

Cover of Frederick, O'Connor, Kuratko (2019), Entrepreneurship Theory Process Practice (Melbourne: Cengage) Excerpted from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
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