Do you have what it takes to be a successful entrepreneur?
Take our quiz and find out if you have the ‘right stuff’!
1. When I encounter challenges and setbacks in business, I usually;
a. Don’t allow it to bother me; I know where I’m going and nothing is going to stop me.
b. Take a close look at my business model and goals to make sure they still work for me, and keep moving forward. I believe in myself, but am open to adaptation and learning new things.
c. Have thoughts of getting an 8 – 5 job.
2. My bank balance is dropping like an anchor, and I don’t have a secure source of income for the next few months.
a. I am sure I am going to do just fine. I’m completely optimistic I’ll sell enough services or product to survive.
b. I am open to taking a second job to fund my business for the time being. I will do whatever it takes to succeed.
c. Frozen with fear, I spend my days locked in my house with the blinds drawn and the lights off.
3. I thought I had a great prototype made, but realize it has a few flaws.
a. I know what I designed is unique and will change the industry I’m in for the better. I will fix the flaws quickly and move forward.
b. I will get outside help from others who have design expertise and determine how this prototype can be used to its full potential. I don’t want to make another costly mistake, but do think I have a winner.
c. I may need to throw it out and start over. I’m not sure I have it in me to design another.
4. I think I have a great idea for a new business. It involves a new way to think about an existing service offered in my community in a way that has not been done before.
a. I launch my business with little research; I just know this will be successful.
b. I work with a team of professionals to be sure my business model works, all the challenges are dealt with prior to opening, and my branding and operations are in place.
c. I ask a few friends for their opinion. If they like it, I might think about doing it
5. There have been a few businesses like mine here, and all have failed in the first few years. I know some of the things they didn’t do, but am not entirely sure why they failed.
a. I open my business anyway. I’ll figure things out as I go along.
b. I think I have a unique idea that will work where the others failed, but I do diligent research so I can avoid the pitfalls the others encountered, and get assistance where needed to ensure my success.
c. Maybe I should just find a different business. After all, if others couldn’t make it work, I probably can’t either.
6. I will need several employees for my new business. I don’t know how to attract and keep the best people.
a. I run an ad and trust my ‘gut’ when it comes to hiring. I can always replace employees.
b. I carefully study each aspect of the business, and clearly know exactly what qualities I need in each employee. I get assistance with the hiring process, so I can hire the right people the first time – and keep them invested in our success.
c. I hate to interview and hire people. I’ll just give that job to someone else and live with the results.
7. I can’t do every task required in my business. I have great employees, but am not using them to their full potential.
a. I believe if you want it done right, you have to do it yourself. I don’t want my employees to have any power.
b. I cultivate my employee’s strengths, and delegate to them the tasks at which they excel. I understand that I cannot do it all.
c. I know I’ll burn out if I try to do everything, but I feel overwhelmed by admitting I’m not good at everything.
8. I have a feeling that one of my suppliers is not being entirely forthcoming with me about price, and that they may be giving a better deal to my competition.
a. I will go to the boss and demand to see their pricing structure and let them know I won’t be taken advantage of.
b. I will do some research to find out who the best suppliers are, which enjoy an impeccable reputation, and form a mutually beneficial relationship with them.
c. I just keep paying my bills and don’t say anything.
9. When it comes to setting goals for my business,
a. I have an idea where I want to be in a few years, but am too busy to make a plan. I will just make it happen.
b. I have set both short and long term goals for myself and my business; these are flexible, but each goal is clear and attainable. I work with a team of professionals who ensure I am ‘on goal’ at all times.
c. I don’t even know what I’m doing next week.
10. When I work for someone else, I find that;
a. I constantly tell them how things should be done.
b. I can think of more efficient ways to work, and try to be diplomatic when I suggest them. Solutions to common problems just seem to come to me.
c. I don’t say a thing. I’d like to keep my job.
Ready to find out if you can be a successful entrepreneur?
Give yourself 1 point for each ‘a’, 2 points for each ‘b’ and 3 points for each ‘c’ answer.
10-15 points. You are a bit of a loose cannon. You have the courage, but it borders on bravado, rather than knowledge. Spend some time with a business coach to learn how you can slow down a bit and approach your business in a more planned and organized manner. You will be ensured of much greater success.
16-25 points. Congratulations! You are on the right track. You have confidence in yourself and your ability, but understand that true success comes from planning and preparation. You don’t see yourself as a ‘lone wolf’, but one who collaborates and brainstorms with others to create success for your business.
26-30 points. Consider the 8-5 job. At this point in your life, you are feeling less than secure about starting a successful business. That’s not to say there is no hope – with the right education, planning and new skills, you may at some point be able to have the business of which you dream. For right now, keep the day job.
Think you have what it takes? The Wild Women can provide the foundation for your business!