Factors Paper - TTL, LPC Regis

IS ENTREPRENEURSHIP FOR ME?

By: Teodorico T. Lasin

Is entrepreneurship for me? It can be, since almost anyone can become an entrepreneur. Most successful entrepreneurs have learned to do what they do, and so can I. Of course, not everyone will want to start their own business. However, increasingly, the competitive marketplace is pressuring everyone to become more entrepreneurial. So, instead of asking, "Am I out to be an entrepreneur?", I should ask, "How entrepreneurial am I now, and what can I do to become more entrepreneurial?" The following exercise will help me determine approximately how entrepreneurial I tend to be now.

Does this sound like you?	That is definitely not me.	Sometimes that's me.	That's me most of the time.	Wow! That's me exactly!
Nobody has to tell me to get to work. I figure out what has to be done and do it before I'm asked.
I like to be in control of whatever jobs I'm doing.
I'm rarely satisfied with the way things are. I want to change them, make them better.
I'm good with people. I enjoy creating teams of people to tackle a challenging task.
I rarely take no for an answer. I am known to be very persistent because I know I can't accomplish much on the first try. I just keep on trying.
If I'm told something is impossible to do, I often can't resist seeing if it's true. I don't mind failing if I learn something in the process.
Whatever job I have, I need to feel that I'm accomplishing something, not just putting in time.
More than anything else, I love to earn money. It gives me freedom and power.
When I'm working for someone else, I'm always thinking of how I'd change things if it were my business.
I'm willing to accept responsibility and take the heat if my decisions are wrong, but I want the credit (or rewards) when I make decisions that produce the right results.
When I'm doing work I really like, I don't mind working hard for long hours. In fact, it doesn't even seem like work.
I have dreams I want to pursue, and I won't be satisfied until I find out whether or not I can achieve them.
Scoring:
No. of answers	0	0	0	12
Factor	0	1	2	3
Rating (No. of answers x factor)	0	0	0	36
Score (Sum of rating)	36
Criteria:
Score	Evaluation
26-36	Individual possesses key attributes of entrepreneur
13-25	Individual has good foundation to develop entrepreneurial skills and characteristics
<12	Individual is not yet entrepreneurial

Remarks:

Based on the above assessment, I possess the key attributes of an entrepreneur which are the following:

1. Disciplined

These individuals are focused on making their businesses work, and eliminate any hindrances or distractions to their goals. They have overarching strategies and outline the tactics to accomplish them. Successful entrepreneurs are disciplined enough to take steps every day toward the achievement of their objectives.

2. Confidence

The entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. They are confident with the knowledge that they will make their businesses succeed. They exude that confidence in everything they do.

3. Open Minded

Entrepreneurs realize that every event and situation is a business opportunity. Ideas are constantly being generated about workflows and efficiency, people skills and potential new businesses. They have the ability to look at everything around them and focus it toward their goals.

  

4. Self Starter

Entrepreneurs know that if something needs to be done, they should start it themselves. They set the parameters and make sure that projects follow that path. They are proactive, not waiting for someone to give them permission.

5. Competitive

Many companies are formed because an entrepreneur knows that they can do a job better than another. They need to win at the sports they play and need to win at the businesses that they create. An entrepreneur will highlight their own company's track record of success.

6. Creativity

One facet of creativity is being able to make connections between seemingly unrelated events or situations. Entrepreneurs often come up with solutions which are the synthesis of other items. They will repurpose products to market them to new industries.

7. Determination

Entrepreneurs are not thwarted by their defeats. They look at defeat as an opportunity for success. They are determined to make all of their endeavors succeed, so will try and try again until it does. Successful entrepreneurs do not believe that something cannot be done.

8. Strong people skills

The entrepreneur has strong communication skills to sell the product and motivate employees. Most successful entrepreneurs know how to motivate their employees so the business grows overall. They are very good at highlighting the benefits of any situation and coaching others to their success.

9. Strong work ethics

The successful entrepreneur will often be the first person to arrive at the office and the last one to leave. They will come in on their days off to make sure that an outcome meets their expectations. Their mind is constantly on their work, whether they are in or out of the workplace.

10. Passion

Passion is the most important trait of the successful entrepreneur. They genuinely love their work. They are willing to put in those extra hours to make the business succeed because there is a joy their business gives which goes beyond the money. The successful entrepreneur will always be reading and researching ways to make the business better. 4