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Do you have what it takes to be an entrepreneur?


Do you have the right attitude to become a successful entrepreneur? Take this selfscoring quiz to see just how you rate. Read each question and the possible answers. Then put a check mark in the space provided. 1. You would love to have a lot of money: ___ a. To move into a plush neighborhood. ___ b. To send your kids to private school. ___ c. To finally pay off all of your

outstanding debts. ___ d. To use it to make more money. 2. When you're at a party, you usually: ___ a. Drink, dance and have fun. ___ b. Network and collect business cards. ___ c. Spend all night talking to a

knowledgeable business contact. ___ d. Ferret out business contacts you can

call later. 3. A potential company investor visits you unannounced as you are about to leave with your fiancee to meet her parents. You decide to: ___ a. Meet with the investor and tell your

fiancee the date is off. ___ b. Make an appointment with the

potential investor at a later date. ___ c. Bring the investor along on the date

and talk business there. ___ d. Take an aspirin and count to 10. 4. When you see a store clerk tell off a rude shopper, you: ___ a. Admire the clerk for standing up for

himself. ___ b. Immediately start cursing out whoever

you think is wrong. ___ c. Sympathize with the shopkeeper for

possibly losing a customer. ___ d. Sympathize with the customer for

having to put up with abuse. 5. When you go out for the evening with a group of friends: ___ a. You can usually convince the group to

do something special. ___ b. The group does what it usually does

when all of you go out. ___ c. The group pretty much ignores your

suggestions. ___ d. The group recommends that you see a

psychiatrist or a minister. 6. Starting a business is a financial sacrifice in the beginning. You're willing to: ___ a. Give up steady paychecks and paid

vacations from your job. ___ b. Give up your dental insurance,

expense account and the corner office. ___ c. Mortgage your home and take your

kids out of private school. ___ d. All of the above. 7. You want to go into a business where: ___ a. You can take a hands-off approach in

the beginning. ___ b. You can make the most money in the

shortest time. ___ c. You know the business well from

previous experience. ___ d. You can receive help from your local

unemployment office about labor

problems. 8. When you have to work late: ___ a. You don't mind so long as you get

compensated for it. ___ b. You don't mind because it makes your

boss happy. ___ c. You don't mind if that's what it takes to

get the job done. ___ d. You hate working late for any reason

at all. 9. When your work day ends, you like to: ___ a. Go drinking with your friends. ___ b. Go to a networking forum. ___ c. Work out in a gym. ___ d. Attend business symposiums. 10. How much money do you think you'll need to start your own business? ___ a. Enough to get through one or two

years. ___ b. You don't know, but you'll borrow it

from a bank when you need it. ___ c. You don't know, but you'll try to have a

variety of financing sources available. ___ d. You don't have to worry about this

because you have rich parents. 11. You would seriously reconsider going into business for yourself if: ___ a. Your potential business competitors

thought you were crazy. ___ b. Your business associates and

potential investors thought you didn't know

what you were doing. ___ c. Your friends and family thought you

were going through a phase. ___ d. Your minister or priest recommended

emotional counseling. 12. You would consider running a business with a partner if: ___ a. You could become senior partner and

run the business. ___ b. Your partner came up with the cash

and let you run the company. ___ c. Your partner brought talents to the

business that complemented your

own. ___ d. The world was coming to an end. 13. To make your new business venture a success, you'll need to: ___ a. Plan everything in detail early so you

won't have to worry about it later. ___ b. Plan to know everything about your

business down to the smallest detail. ___ c. Hire somebody to take care of the

detail work. ___ d. Take the long view of things and not

worry about the details. 14. In your new business, you expect to: ___ a. Take pleasure in your own

entrepreneurship instead of having immediate

monetary rewards. ___ b. Make more money in the first year

than your former annual salary. ___ c. Stay perfectly calm when you fall

short of your sales projections. ___ d. Be surprised if the business operates

in the black right away. 15. When things don't go well for your new business, you basically believe that: ___ a. You're having trouble because of the

poor state of the economy. ___ b. You should not have gone into

business in the first place. ___ c. You feel guilty because you know the

problems are your own fault. ___ d. You accept responsibility and

immediately start looking for solutions.


The preferable answer for each question received 3 points, the second-best answer gets 2 points, the third-best answer gets 1 point, the poorest answer scores nothing. 1. d,c,b,a: For true entrepreneurs, making money is an end in itself. 2. d,c,b,a: There is no such thing as a purely social gathering for serious businesspersons. They are always at work. 3. a,b,c,d: If you're serious about owning a business, prepare to have your social life suffer for a while. 4. c,a,d,b: If you don't sympathize with the boss automatically, then you shouldn't try to become one. 5. a,b,c,d: Leadership is crucial. If you don't have it, stick to a salaried job. 6. d,c,b,a: Just be prepared. Success will always cost more than you think. 7. b,c,a,d: Capitalists always head for the bucks. If you have the right state of mind and management skills, you don't have to go into a field that you know well. 8. c,a,b,d: Working late comes with the territory. There's no way around it. 9. d,b,c,a: Business forums will help you learn more about how to run your business than a networking forum. 10. c,a,b,d: Don't depend on any one source for money. But, if you can get a financial cushion, it's not a bad idea. 11. b,c,a,d: If the people who know your plans best doubt you, then think hard about whether you should proceed. 12. c,b,a,d: If you can't pick a partner that you can work with, go it alone. 13. c,b,a,d: Don't become bogged down in minutiae. Learn to delegate. 14. a,d,c,b: It's a fact: The first year of operation will probably not be profitable. Make realistic plans. 15. d,c,a,b: You must take full responsibility for your business. The buck stops with you.


40-45: What are you waiting for? Entrepreneurship seems to come naturally to you. You're probably ready to give it a try. 32-39: Starting your own business may scare you, but once you gain confidence, you'll have a good chance of success. 26-31: You've thought of ownership, but you can't picture yourself as an entrepreneur. 20-25: Ownership really isn't important to you. You only dream about it. 0-19: Don't quit your job--you're really not cut out to operate your own business.
COPYRIGHT 1992 Earl G. Graves Publishing Co., Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:B.E. Quiz
Publication:Black Enterprise
Date:Feb 1, 1992
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