Do You Have What It Takes to Run Your Own Business?
Answer the following Yes/No questions to determine whether you are meant for life as an entrepreneur:
1. Did your parents immigrate to the United States?
2. Were you a top student in school?
3. Did you enjoy participating in group activities in school, such as clubs, team sports or double dates?
4. Did you prefer to be alone as a youngster?
5. Did you run for office at school or initiate enterprises at an early age, such as lemonade stands, family newspapers or greeting card sales?
6. Were you a stubborn child?
7. Were you cautious as a youngster?
8. Were you daring or adventurous?
9. Do the opinions of others matter a lot to you?
10. Would changing your daily routine be an important motivator for you to start your own enterprise?
11. You might really enjoy work, but are you willing to work overnight?
12. Are you willing to work as long as it takes with little or no sleep to finish the job?
13. When you complete a project successfully, do you immediately start another?
14. Are you willing to commit your savings to start a business?
15. Would you also be willing to borrow from others?
16. If your business should fail, would you immediately work on starting another?
17. Or would you immediately start looking for a job with a regular paycheck?
18. Do you believe being an entrepreneur is risky?
19. Do you put your long- and short-term goals in writing?
20. Do you believe you have the ability to deal with cash flow in a professional manner?
21. Are you easily bored?
22. Are you an optimist?
So, How Did You Score?
For each question, add or subtract points as indicated below to get your final Entrepreneurial Quotient score:
1. If yes, score one point; if no, subtract one. Significantly high numbers of entrepreneurs are children of first-generation Americans.
2. If yes, subtract four points; if no, add four. Successful entrepreneurs are not, as a rule, top achievers in school.
3. If yes, subtract one point; if no, add one. Entrepreneurs are not especially enthusiastic about participating in group activities in school.
4. If yes, add one point; if no, subtract one. Studies of entrepreneurs show that, as youngsters, they often preferred to be alone.
5. If yes, add two points; if no, subtract two. Enterprise usually can be traced to an early age.
6. If yes, add one point; if no, subtract one. Stubbornness as a child seems to translate into determination to do things your own way – a hallmark of successful entrepreneurs.
7. If yes, subtract four points; if no, add four. Caution may involve an unwillingness to take risks, a handicap for those embarking on previously uncharted territory.
8. If yes, add four points.
9. If yes, subtract one point; if no, add one. Entrepreneurs often have the faith to pursue different paths despite the opinions of others.
10. If yes, add two points; if not, subtract two. Being tired of a daily routine will often precipitate an entrepreneur's decision to start an enterprise.
11. If yes, add two; if no, subtract six.
12. If yes, add four points.
13. If yes, add two points; if no, subtract two. Entrepreneurs generally enjoy their type of work so much, they move from one project to another – nonstop.
14. If yes, add two points; if no, subtract two. Successful entrepreneurs are willing to use their savings to finance a project.
15. If yes, add two points; if no, subtract two.
16. If yes, add four points; if no, subtract four.
17. If yes, subtract one point.
18. If yes, subtract two points; if no, add two.
19. If yes, add one point; if no, subtract one. Many entrepreneurs make a habit of putting their goals in writing.
20. If yes, add two points; if no, subtract two. Handling cash flow can be critical to entrepreneurial success.
21. If yes, add two points; if no, subtract two. Entrepreneurial personalities seem to be easily bored.
22. If yes, add two points; if no, subtract two. Optimism can fuel the drive to press for success in uncharted waters.
Add up your final Entrepreneurial Quotient score: ____________