Are You An Entrepreneur?: 3 Q Self-Administered Foolproof Test
Lately when the phone rings, quite often the voice on the other end states, “I have had a change in my career. I am thinking about going into business for myself.”
It doesn’t take very long before the inevitable question, “Is there a test or something I can take that will tell me if I am an entrepreneur?”
Even an emphatic , “No, there is no such test” does not deter the caller. “What about the one I saw in a national magazine or in a “book” or how about this “all day seminar where they talked about the traits of an entrepreneur?”.
I can understand the need for this magical test to “certify” being an entrepreneur. I have decided to build a foolproof one.
If I can develop such a magical test I can make $$$ in marketing it.
Psychological Tests
The science of personality analysis has advanced so much that it has enabled us to understand our own personality in new and revealing ways. Most tests measure common traits and assess the personality of an individual by determining the extent to which this individual has common characteristics with a particular group. Maybe we can use the same approach to certify an entrepreneur?
Take, for example, the most widely used test, MBTI; based on the theories of Swiss psychologist Carl Jung. Some findings suggest that fast growth oriented founders have a higher proportion of intuitive objective future orientation (NT). Does that suggest that all NT’s will make good entrepreneurs? While a higher proportion of entrepreneurs may be NT’s, not all are cut out to be entrepreneurs. Not all NT entrepreneurs are even successful!
After detailed study of all research on entrepreneurs, researchers have concluded again and again that there is “no generic profile of an entrepreneur “ or, if there is one, “we do not have the psychological instruments to discern them at this time. “ To separate successful and unsuccessful entrepreneurs by a battery of tests is not a promising area of search.
Not a very likely area for my magical test. My quest continues!
Traits
“OK’, you say, “there may be no test, but surely entrepreneurs share some specific traits.” Conventional wisdom holds that issues such as birth order (first born are more entrepreneurial) dominance of mother, family background , age, etc. all play a role.
Again, systematic studies find them to be myths. In any case what are you going to do? Change your birth order? Are you either born an entrepreneur or you are toast?
Again, not a promising avenue for my magical test to label an entrepreneur.
Themes
The most useful approach may be of themes. An (incomplete) list of themes commonly observed in entrepreneurs by Gallup, Inc. are:
- Dedication- the capacity to give up wholly to a chosen goal;
- Focus- knowing the central point of attention;
- Profit Orientation- looking for benefit in each transaction;
- Urgency-so much to do and so little time;
- Courage- increased determination in face of resistance;
- Activator- wanting to make it happen;
- Opportunity- seeking opportunity where others see blocks;
- Creativity- breaking existing paradigms;
- Team- get together with right people and get them to help you, and;
- Individualized Perception- see strengths of each individual.etc.
Tracom has done some interesting work on Social Style and Versatility and lately on Resiliency. It is widely used but the data specifically on Entrepreneurs is somewhat sketchy.
Clearly, the more themes observed in an individual the better. To expect all themes to be present in every entrepreneur is asking for them to be Superman. We cannot certify only Superman to be an entrepreneur.
Maybe this is somewhat useful but not really approaching a magical test.
Anecdotes
People are making a fortune offering seminars and “war” stories. Books, videos and seminars abound. In any give week of the day there is at least one Meetup or another gathering that is all about “how I did it.” We can test for its value by asking “ What does this information mean to me in my own situation”. Do they pass that test?
Listening to a group of lottery winners on “How I won the lottery” does not improve your chance of winning the jackpot.
However, if the presenter provides information on the lessons learned through navigating the process, trial and error, need to pivot, etc. , then the experience can be invaluable.
The entrepreneur is only one part of the equation. At times hir contribution may be invaluable and at others it may be irrelevant or even disruptive.
Process
Today, enough science has been developed to enable a better, healthier development of a new venture. Many programs “teach” the process of effective entrepreneurship. The key elements of a successful new venture- besides the entrepreneur- are the opportunity, the team, the resources and the plans. The fit between these elements, although rarely perfect, has to be reasonable. Tools like Business Model Canvas take this elemental formula to greater depth. You’ll be better served by seeking these out than focusing on if you have the right stuff to be an entrepreneur. There in lies the formula for improving the odds of success.
So, we arrive at the foolproof magical test: It has just 3 questions:
1. Are you willing to seek out and learn the process with detailed steps of going from an idea to building a business?
2. Do you have an idea which is an opportunity for you today?
3. Are you willing to focus and pursue this opportunity?
If you answer “Yes” to all 3 questions, then this test confirms that you are an entrepreneur.
Being successful is down the road. The odds may still be against you. Many additional steps are still to be navigated. The very fact that you are willing to undertake that journey and do it in a deliberate and systematic way is proof enough that you are an entrepreneur.
If someone ever challenges your bonafides of being an entrepreneur based on this test-tell them you took this magical test and it certified that you are an entrepreneur!
Write to me after passing the test and I will send you a certificate. We can negotiate a modest fee.
Ironically, if you actually pursue learning about the process of building a business, the other tests, viz, traits, themes and anecdotes can provide additional insights.
Unfortunately, with you cheapskates, I am not likely to make $$ with my brilliant magical test. Maybe I should buy a lottery ticket. A wise man told me that the secret to winning the lottery jackpot is- you have to buy a ticket! Maybe not, the odds are against me.
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Dr. Rajiv Tandon is an Entrepreneur, Educator and Mentor. He facilitates peer groups for CEOs of fast-growing companies in Minnesota. To learn more, sign up to get the email newsletter.
