In the previous post I suggested that there were some personality traits that were commonly measured (through self analysis testing) that seem to be indicators of the entrepreneurial mind set and qualities necessary for future business success.
I also cautioned that if you don't possess all these qualities, and still desire to begin a business venture, you should not be swayed from your decision on the basis of apparent lack of "the right stuff."
Some traits can be "learned" or acquired over time and some may not be quite so relevant to success in certain types of business that a solo operator may have chosen.
Think of these traits as a good survey of the issues that will come before the new owner that will require sometimes hard choices. Here they are:
1. Did you do well in your studies as a youngster? (Most entrepreneurs were not particularly studious or high achievers early on.)
2. Did you voluntarily participate in team sports, clubs, student government, etc? (Entrepreneurs are often loners and prefer not to be a part of social groups.)
3. Did you show signs of the business spirit at a young age? (Many business owners had paper routes, after school jobs, etc, as youngsters.)
4. Are you the cautious and conservative type, or the reckless and adventurous free spirit? (Business owners often feel they have the soul of an explorer or a gambler.)
5. Do you listen to and take advice from others? (Business types often don't care to hear from others - they'd prefer to rely on their own intuition or gut feelings.)
6. Do you think of yourself as the creative or artistic type or are you more hands-on and practical? (Most entrepreneurs are realists, practical, and very task oriented.)
7. If you don't complete a task by quitting time, would you prefer to put it away until tomorrow when you can get a fresh start on it - or would you rather stay around until late in the evening to get it done and out of the way? (It's pretty obvious, I think, that entrepreneurs tend to stick it out, to see it through to conclusion.)
8. Do you enjoy interacting with other people or would you rather spend your time working with objects or things? (Yes, entrepreneurs are supposed to be more task- and object-oriented and less inclined to schmooze it up with humans.)
9. Would you be willing to take money out of your lifetime savings to finance a business startup? (Most people get nervous about speculating in business, but entrepreneurs would see this as an opportunity.)
10. Which do you prefer, a paycheck every two weeks that you know will be there waiting for you, or the chance to earn a very large sum that comes down the road at some uncertain time in the future? (Most folks like security and no surprises.)
11. Are you challenged by added expectations and responsibility, or would you just as soon let others deal with the headaches and stress? (Business brings with it a huge burden on the owner to keep the ship afloat and heading in the right direction.)
12. Do you record your personal and financial goals in writing? (If so, you share the business owner's mindset to some degree.)
13. Do you tend to be stubborn and immovable or are you more willing to seek compromise and conflict resolution? (Many successful business people are bent on doing things in their business, their own way.)
14. Are you usually optimistic about the future? (If so, you may have the never-say-die attitude and persistence that serves business owners well in difficult times.)
15. Do you tend to be analytical and thorough in exploring options that lead to decisions or do you more rely on your "instincts" to be able to make quick and certain decisions? (Entrepreneurs tend to be less patient in decision-making. They value speed and decisiveness.)
There are other traits and qualities that business owners possess that are considered indicators of business prowess, but these fifteen give you a feel for the mind set and characteristics usually attributed to entrepreneurs. How do you stack up?
