Excellent. A perfect score. You are a born entrepreneur. If you are not presently
running your own business you should definitely start one -- the sooner the better. You
are on the way to fame and riches.
Score 91 - 99
Very good. You definitely have what it takes to succeed in a business of your own.
Don't hesitate, your way to business success is wide open.
Score 72 - 90
Good. You have the qualities of a successful entrepreneur
with some weak spots. Read the interpretation below to identify your deficiency. You
should be able to cover that deficiency by either retraining yourself or hiring someone
with the necessary skill.
Score 40 - 71
So so. The prospect of your success in a business of your
own is questionable. You have some deficiencies that might out-shadow some good traits you
have. If you still want to go on with it, be sure to call up all the persistence you can
get. You are going to face some tough adversity on the way.
Score 40 and below
Unsatisfactory. Forget your dreams of being your own boss,
it's not for you. You'd better keep your comfortable and secure job. Why bother with all
the risks and hustles of starting a business.
What Traits and Characteristics
Make a Successful Entrepreneur
Numerous studies have been made of small
business managers over the years. Many look at traits and characteristics that appear
common to most people who start their own businesses. Other studies focus on
characteristics that seem to appear frequently in successful owner-managers.
First, consider those characteristics that seem to distinguish the person
who opens a business from the person who works for someone else. These studies
investigated successful and unsuccessful owners, some of whom went bankrupt several times.
Some were successful only after the second or third try. The characteristics they share
might almost be said to predispose a person into trying to start a business. Of course,
not all of these characteristics appear in every small business owner-manager, but the
following seem to be most predominate.
People who start their own business may be members of different political
parties, feel differently about religion, economics and other issues. They are like
everyone else. The difference is they usually feel and express themselves more strongly.
This is consistent. If you are going to risk your money and time in your own business you
must have a strong feeling that you will be successful.
These strong feelings may also cause problems. If you want to start your
own business you probably have mixed feelings about authority. You know the manager must
have authority to get things done, but you're not comfortable working under someone. This
may also have been your attitude in a scholastic, family or other authority structure
If you want to open your own business you are likely to have a strong
"Need for Achievement". This "Need for Achievement" is a
psychologist's term for motivation and is usually measured by tests. It can be an
important factor in success. The person who wouldn't think of starting a business, might
call you a plunger, a gambler, a high risk taker. Yet you probably don't feel that about
Studies have shown that very often the small business owner doesn't differ
from anyone else in risk avoidance or aversion when measured on tests. At first thought
this seems unreasonable since logic tells us that it is risky to open your own business. A
management expert once explained this apparent contradiction very simply. "When a
person starts and manages his own business he doesn't see risks; he sees only factors that
he can control to his advantage." If you possess these traits to some degree or other
it doesn't mean you will be successful, only that you will very likely start your own
business. Some of these characteristics in excess may actually hamper you if you are not
The characteristics that appear most frequently among
"successful" small business managers include drive, thinking ability, competence
in human relations, communications skills and technical knowledge.
Drive, as defined in the study, is composed
of responsibility, vigor, initiative, persistence and health.
Thinking ability consists of original,
creative, critical, and analytical thinking.
Competency in human relations means emotional stability,
sociability, good personal relations, consideration, cheerfulness, cooperation. and
Communications skills include verbal
comprehension, and oral and written communications.
Technical knowledge is the
comprehension of the physical process of producing goods or services, and the ability to
use the information purposefully.
Motivation or drive has long been considered as having an important effect
on performance. Psychologists now claim you can increase the motivation and the personal
capacities that will improve your effectiveness and increase your chances for success.
Much of the development of such achievement motivation depends on setting the right kind
of goals for yourself.
Top of page