Page 3Newsletter #274
Check your “Entrepreneurship Horsepower”
by Carl Fletcher, OMAFRA
What makes someone an entrepreneur? Are you the entrepreneurial type?The following self test is based on the results summary of the “ Entrepreneurial Potential Self Assessment”found on the Advice Centre-Benchmarking Tools section of the Business Development Bank of Canada’swebsite at www.bdc.ca. The questions are based on research and observations of Canadian entrepreneursin all industry sectors. In general entrepreneurs score higher than the general population for the traits sum-marized in the survey.This self test rates three aspects of entrepreneurship: Motivations, Aptitudes and AttitudesWhat’s my entrepreneurial level?
Motivations are factors that determine behaviour. They are the underlying reasons that induce someone toact.Need for achievement / success ____high, ____medium, ____lowNeed for power / control ____high, ____medium, ____lowNeed for challenges / ambition ____high, ____medium, ____lowNeed for self-sufficiency / freedom ____high, ____medium, ____low
Aptitudes are natural inclinations, competencies, and abilities. Certain aptitudes predispose someone to bean entrepreneur.Perseverance / Determination ____high, ____medium, ____lowSelf – Confidence / Enthusiasm ____high, ____medium, ____lowTolerance towards ambiguity / Resistance to Stress ____high, ____medium, ____lowCreativity / Imagination ____high, ____medium, ____low
Attitudes are made up of perceptions, our feelings about something. They are judgements we make, waysof looking at things.Perception to act upon one’s destiny ____high, ____medium, ____lowAction oriented ____high, ____medium, ____low
The more high ratings you score the more you fit the entrepreneurial type. Clearly taking the original test of the 50 more direct questions gives a more complete test and I encourage readers to do so. Certainly noone test is the be all and end all in determining a person’s entrepreneurial potential but it does allow you tocompare yourself against a group of entrepreneurs and see how you compare.Ironically many of the very same attributes that favour starting a new business can, if not managed appro-priately, can have negative impacts on business growth.In business, people supply goods and services to meet the needs of other people we call customers. Cus-tomers drive sales, cash flow and profits. People relationship skills are crucial to both customer service andmanaging the people hired as the business grows.Successful entrepreneurs learn to balance their strong entrepreneurial tendencies of relying on themselvesto do and control everything with the need to create a team that brings needed expertise to the business.
Carl Fletcher is a Program Lead in Strategic Business Planning with OMAFRA. He can be reached at 1-888-466-2372ext. 3235 or by email at email@example.com