The Entrepreneur Test:  

Choose the answer which best describes

 

Select one of the following which best describes what you are interested:

Offering a Service Retail Invention Deals with Food Selling Consulting Better Way to Do Something High Tech Author New Product

 

Are you passionate about an idea or skill that you possess?

Do Not Know I feel that I have to explore this idea I Want to pursue this idea Want to be my own boss Must pursue this idea I am ready to spend my money and time to pursue this business I have been studying this idea long enough- it is time to act I am ready to quit my full time job to start working on my idea This is all I think about This is part of my life goals People are telling that I that I am ready to pursue this dream

 

Why do you think you want to start your own business?

Must do something with the idea Need more fullfillment Want to create more income Want to be my own boss Hate my job Need to find something that I am good at Better way to do something Don't know what but want to try something I feel created to do this I do not want to miss out on this opportunity People are telling me that I should do something with my idea

 

How many different ways can you make money with your

idea or skill?

Have not really thought about it One - Two Ways Three to Five Ways Six to Ten Ways More than Ten Do not really know

 

How have you become qualified to pursue this idea or skill?

I believe I am gifted Not formally qualified Studied the idea or problem intensely I am professionally certified in thisfield I have worked in this field for several years I plan to take a course on this subject I have giving away this product or performing this service to friends

 

Have you received customer input or feedback on this idea?

I have gotten feedback from friends and family Currently have 50 or more customers Curently have at least 10 customers and a prospect list of 50 I have sold to at least 3 customers I have not yet gotten feedback Even though I have not tested it, I think that it is ready for the public I have not sold anything yet. I have won a prize or prizes for this product or service I have developed a sales plan

 

What is your risk tolerance?

Do not know Low, I do not even buy green bananas hoping that they ripen Moderate, If I had the choice between investing in stocks or buy bonds, I would try to do both Moderate, I like a little risk Low, I do not like risk Low, I am conservative. I would not invest but buy CD's or savings accounts High, I typically would invest in high return stocks High, I feel that without risk there is no return

 

What is your credit?

Do Not Know My Fico score is below 600 - had some credit issues My score is between 600 and 639 - Moderate Credit Risk My Fico Score is 640 or higher - Decent Credit

 

How much of your own money do you plan to invest?

Do Not Know I plan on investing up to $10,000 Nothing, I plan on getting a grant to start this business Nothing, I plan to get a loan to start this business I plan to invest up to $100,000 I plan to spend up to $1000 of my money and bootstrap the company (use profits to grow business) I do not have any money to invest I do not think that my business will take more than $500 to start

 

What is your reserves (the amount you have saved to cover your expenses while pursuing this business)?

 

I have not saved anything I plan on keeping my full time job while I build my business I have saved at least $1,000 I have saved at least 3 months worth of expenses I have saved at least 6 months worth of expenses

 

Have you written a business plan?

Do not know if I need one Do not think that I need one I need one but do not know how to write one I am taking a class on writing a plan I have written a business plan I have written a plan to test the feasibility of my idea I have written a plan and update it as I develop my business I have written a plan and update it regularly

 

 

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