Self-Assessment Check: Why Entrepreneurship?

This survey is for your personal information. Please answer each of the following questions as honestly as possible.

Entrepreneurial Self-Assessment

_____1. I am willing to work 50 hours or more per week regularly.

_____2. My family will support my going into business.

_____3. I am willing to accept both financial and career risks when necessary.

_____4. I do not need all the fringe benefits provided by conventional employment.

_____5. I would like to take full responsibility for the successes and failures of my business.

_____6. I would experience more financial success by operating my own business.

_____7. I feel a great deal of pride when I complete a project successfully.

_____8. I have a high energy level that can be maintained over a long time.

_____9. I enjoy controlling my own work assignments & making all decisions affecting my work.

____10. I believe that I am primarily responsible for my own successes and failures.

____11. I have a strong desire to achieve positive results even when it requires a great deal of additional effort.

____12. I have a good understanding of how to manage a business.

____13. I can function in ambiguous situations.

____14. One or both of my parents were entrepreneurs.

____15. I believe that my abilities and skills are greater than those of most of my coworkers.

____16. People trust me and consider me honest and reliable.

____17. I always try to complete every project I start, regardless of obstacles and difficulties.

____18. I am willing to do something even when other people laugh or belittle me for doing it.

____19. I can make decisions quickly.

____20. I have a good network of friends, professionals, and business acquaintances.

TOTAL:_____ Total the numbers you placed before the statements and enter the total in the space provided.

Score Assessment. Note that this assessment is to gauge your readiness level. Note that arriving at a conclusive portrait of a typical entrepreneur is very difficult. Therefore, you may score low on the assessment and still succeed as an entrepreneur.

80 – 100 You have outstanding ability to be an entrepreneur.

60 – 79 You have satisfactory ability to be an entrepreneur.

40 – 59 Self-employment may not be an appropriate career for you.

0 – 39 You should probably avoid entrepreneurship.

Self-assessment tools you can utilize:

Self-Assessment ToolDescriptionLink
Psychometric Tests for EntrepreneursThis questionnaire measures five key personality traits which have been found to correlate with those of successful entrepreneurs. https://www.psychometrictest.org.uk/entrepreneur-test/
Myers-Briggs Type IndicatorThe Myers-Briggs Type Indicator is the father of all tests and is based on Jung’s theory of personality and is probably the most well-known of all tests administered to everyone from managers, directors to entrepreneurs.https://www.myersbriggs.org/my-mbti-personality-type/mbti-basics/
The StrengthsFinder AssessmentThe StrengthsFinder Assessment is a modern assessment tool which will help you to identify your five best talents and shows you how to apply your strengths.https://www.gallup.com/cliftonstrengths/en/home.aspx

Additional Resources:

123test. (2021, January 25). Personality Test. 123test. https://www.123test.com/personality-test/

Arruda, W. (2019, July 07). How to know whether entrepreneurship is the right next career move for you. Forbes. https://www.forbes.com/sites/williamarruda/2019/07/07/how-to-know-whether-entrepreneurship-is-the-right-next-career-move-for-you/?sh=523396cd1aae

Business.gov.au. (2021). Are you ready to start a business? https://business.gov.au/planning/new-businesses/are-you-ready

NERIS Analytics Limited. (2021).  Personality Test NERIS Type Explorer. NERIS. http://www.16personalities.com

Patel, N. (n.d.). 7 warning signs you’re not cut to be an entrepreneur. Neil Patel. https://neilpatel.com/blog/7-signs-not-cut-entrepreneur/

Queensland Government. (2019, March 28). Business readiness quiz. https://www.business.qld.gov.au/starting-business/advice-support/tools/business-readiness-quiz

Savanteum. (2020, November 08). How to create a company: Elon Musk’s 5 rules. [Video]. YouTube. https://www.youtube.com/watch?v=Qa_4c9zrxf0

Tarver, E. (2021, April 05). 5 skills every entrepreneur needs. Investopedia. https://www.investopedia.com/articles/personal-finance/080615/5-skills-every-entrepreneur-needs.asp

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