question you should answer when you are thinking of starting a business
is "Am I the type?" You will be the most important employee in your
business. It is more important that you rate yourself objectively as the
business manager than how you rate any prospective employee. Appraise
your strengths and your weaknesses. As a prospective operator of your
own business, acknowledge that you are weak in certain areas and
cover the deficiency by either retraining yourself or hiring someone
with the necessary skill. The questions in this test indicate to what
extent you have the personal traits important to a business manager.
Instructions: Read each question in this entrepreneur quiz and click on one of
the suggested answers. Respond by marking the answer that most
accurately describes your behavior, feeling or attitude as it
actually is, not as you would like it to be, or think it should. You
must be absolutely honest with yourself in order to get a valid
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
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 deficiencies.
You should be able to cover that deficiencies by either retraining
yourself or hiring someone with the necessary skills.
Score 40 - 71
So so. The prospects of your success in a business of your own are
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 Business Manager
Numerous studies have been made of entrepreneurs and 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
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 careful.
The characteristics that appear most frequently among
"successful" small business managers include drive, thinking
ability, competence in human relations, communications skills and
Drive,as defined in the study, is composed of responsibility, vigor,
initiative, persistence and health.
consists of original, creative, critical, and analytical thinking.
Competency in human relations
means emotional stability, sociability, good personal relations,
consideration, cheerfulness, cooperation. and tactfulness.
include verbal comprehension, and oral and written communications.
is the manager's comprehension of the physical process of producing
goods or services, and the ability to use the information
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.
The following sections can help you sharpen your managerial skills:
Management Tips and Tricks
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