Entrepreneur Tests - A Tool For Successful Enterprise Ownership

By Stephen R Tiebout

Introduction

You think you might be an entrepreneur. And you want to take a screening test to find out. Testing is a very valuable tool which supports your focus on your entrepreneurial strengths and weakness. However, this is not the complete picture. Your skills, education, and experience also provide additional tools that will help you, should you decide to start your own business. The initial step in starting ones' own enterprise is to genuinely analyze if you've got the right stuff to pull it off.

The Procedure

As a first step, decide if you are suited for entrepreneurship by taking a career preference test called the Combined Strong/MBTI Entrepreneur Test. The test is self-administered online. People who are self-motivated will find this action appealing irrespective of receiving help in interpreting the results. Taking a self-administered test is evidence in itself that you are a self-starter.

Entrepreneurial Traits

Numerous studies have established the traits of small enterprise operators over time. The studies examine traits and attributes that appear to target characteristics that typically manifest in effective owner-managers. Testing takes into consideration those qualities that appear to differentiate the business owner that starts up an enterprise from the one that works for other people

There are many key attributes of effective entrepreneurs. Although every successful entrepreneur would not necessarily possess all the attributes, it's likely that most of them are embraced by the successful business owner.

In business, the dedicated entrepreneur always has a sophisticated skill-set of abilities that sets him apart from ordinary managers. These one-of-a-kind attributes lead him to accomplish more than the typical business person, and he is therefore able to find a way to do the things that must be done to keep the enterprise afloat.

Can the individual make judgments swiftly and routinely? Can he make rational choices as well as intuitive judgments in accordance with the circumstances at hand? A 'yes' to these questions means the individual possesses the essential entrepreneur attribute of decisiveness which serves him well.

Is the individual trustworthy? Can the individual be friends with others effortlessly? If the reply to these questions is 'yes', then another essential entrepreneurial quality exists for the reason that each business transaction requires genuine interest in potential customers as a prerequisite to persuading them to buy.

How exactly does the individual respond to problems? An individual needs to have the capacity to identify difficulties early on, then to fairly investigate them and discover remedies. In doing so he'll most likely succeed in running a business.

The Business Enterprise Plan

A strategic business plan is the vehicle with which you conduct the research for your market, decide which personnel to involve in the sale of your product, and validate your revenue and expense financial forecasts. It is the means by which you will convince first yourself and then others who can help you that your company has a road map to success.

Candid Talk

Start your enterprise by retaining only those personnel that are absolutely necessary to maintain basic operations. Later, you can recruit additional qualified people when the budget allows. Setting up an enterprise is not always easy and it also doesn't just materialize simply because you slap together a web site page with some products or affiliate links on it.

The formative years of business launch is often hard on loved ones life. The stress of resistance from a significant other is always challenging when balancing against the requirements of establishing an enterprise. There may also be financial hardships till the business gets profitable which often can take months or even years to achieve. You may need to adapt to a reduced standard of living or put family resources in jeopardy.

If you do not take pleasure in your enterprise and the product you are going to offer, failure is a definite unwelcome option. I say this because starting a business takes determination, more determination than perhaps anything else in life. You must have a burning need to succeed and make the business enterprise work regardless of might come along.

You are going to encounter hurdles. Friends and family will advice you it won't work and that you are doomed to failure. But don't let negativity get in your way. Surround yourself with positive people who will support you in your efforts.

Most small enterprise failures are caused by insufficient preparation. It's impossible to get rid of all of the risks associated with starting a small business. However, it is possible to enhance your chances of success with good planning and preparation.

Tips

The Enterprise owner is usually first on the scene in the morning and the individual who leaves last. Operating a business can wear you down. Be ready to log extended time on the job to achieve the rewards of entrepreneurship. Some business owners feel burned out by having to handle the many obligation on their own shoulders. Strong commitment to make the business enterprise be successful will assist you to make it through slow-downs, in addition to times of burnout.

You need faith along with a desire to achieve success against all odds. Becoming a successful entrepreneur is so much more than simply waxing euphoric over lots of plans or projecting a sharp business acumen. It's about determination, ego strength and just plain tenacity. You will need self-confidence as well as a burning desire to make it no matter what obstacles present themselves. It's essential to work tirelessly in order to develop an enterprise, and have the stamina to keep working until the business takes on a life of its own. Then, it's essential to continuously nurture and support it.

When you have identified your individual skills and education, concentrate on your enterprise know-how. Focus on specific business information instead of general life experience. Then, judge your decision-making abilities.

After you own your enterprise, you're in charge, and plenty of decisions need to be made according to what you believe. Not every one of these choices must be made immediately, but many will require immediate attention. If your standard response to problems is to give problem resolving duties to another individual, then you will likely have difficulties with operating a business.

Values and Balance

In a sense, a true entrepreneur is living a balanced life because he is living his passion.

Perhaps you've decided it's time for you to make that jump. Prior to doing so, it's a smart idea to determine if your persona and pursuits are similar to current business owners.

What various levels of commitment do we put on our business, financial, family, social and spiritual lives? This is a value decision all entrepreneurially-minded individuals should make. The first step in your assessment is to make an honest appraisal of your personal skills and education.

Reflect on your life experiences. Write down two situations where you solved a problem and the decision you made worked well. Then take note of two situations where the decisions you made didn't work so well. You'll want to record everything you discovered from these scenarios.

The academic community thinks that book learning entrepreneurial skills will help provide individuals an edge to bring out several important capabilities necessary for a start-up business owner to follow through on long-term business commitments.

Others say that you simply can't train a person to possess a great concept, but that interpersonal skills, marketing, advertising and basic management techniques can be cultivated. Some believe that entrepreneurs start life with such skills-set potential. Others say that people are molded by early life experiences as well as interaction with mentors.

The Truth about Business Failure

At one time, all an aspiring entrepreneur needed to make a reputation for himself was investment capital along with a unique concept or invention. Times have changed. Entrepreneurs must have the right stuff to tackle the already bloated corporate environment, and it also requires a greater charismatic voice to drown out the competition.

With that said, the failure rate of start-ups is not as conventional wisdom says it is. We have all heard that the majority of enterprises fail in the first five years. But an in-depth study in 1993 by the New Jersey Institute of Technology suggests those figures are a myth.

They discovered that at most 18% of new organizations fail in the first 8 years of business. 54% make it through more than 8 years with their original proprietors or with a change in ownership, and the 28% remaining voluntarily end operations without loss to lenders.

Conclusion

After completing the Entrepreneur Test, it is likely you will get a far better understanding of how you match up against other entrepreneurs. But testing isn't the whole picture. Your talent, education, and expertise also give you tools that will assist you should you choose to start your own business enterprise.

For many individuals, starting an enterprise is the fulfillment of achieving a lifetime aspiration; but disregarding little details in the formative stages can interfere with the successful implementation of that dream.

Last, but unquestionably not least, effective entrepreneurs need to be ready to work very hard and invest many long months and years building up a reputation. At the end of the day, customers want to conduct business with an owner who is honest and who can be trusted.

Stephen Tiebout is the administrator of Ransdell Associates.com a testing portal for Career Preference Tests and Personality Preference Tests using The Myers-Briggs Type Indicator and The Strong Interest Inventory. He has over 20 years experience helping people make informed career choices. For great information on entrepreneur tests, visithttp://ransdellassociates.com/. Article Source: http://EzineArticles.com/?expert=Stephen_R_Tiebout

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Top 5 Ways To Grow Your Business

By Kelly Lynn Adams 

This posting is for all my entrepreneurs out there!

Last week in my newsletter I posted the top 5 ways (that I have personally used in my own business) to grow my "list" aka database, aka audience that is interested in hearing from you! The email responses were great and everyone loved the tips so I figured I would share with everyone so here goes:

Here are the top 5 ways to grow your list!

1. Offer A FREE Gift - on your website! This can be a free guide, report, video series, plan, or manifesto! When people visit your website you should have an "opt-in" box where they can put their name and email address in order to get your FREE product. Who doesn't like receiving something FREE (make sure this item contains valuable content) and if visitors see that they will get something free if they opt-in to your database they are more likely to do so.

2. Write Articles and/or Comments - Writing articles for any online magazine or even being a guest blogger is a great way to gain tons of exposure to a new audience. If writing is not your thing then simply visiting other people's blogs or online magazines and leaving your comments & website in the space that they provide you is also another excellent way for exposure! I have had many people "find" me on blogs and online magazines that I write for and sign up for my newsletter simply because they liked my content!

3. Strategic Partnership - Aligning yourself with someone who you would like to partner up with to do an event, teleclass or workshop is a sure quick way to build up your list and theirs! This way you are getting exposure to their audience and vice versa! As people register for the event make sure to add those new names to your database! In this case two is always better than one. This is a total win/win situation!

4. Social Media - Simply by being on facebook and twitter will increase your chances of meeting new people. If you start interacting with others on a daily or weekly basis you will naturally and authentically attract people to your site (*note: make sure to post valuable & cool content). As long as you are being yourself or posting things that resonate with you the right people will be attracted to you & your website!

5. Speaking Events - This is one of the BEST ways to gain new prospects for your business. I know some of us have a fear around public speaking but I say "just do it" and get over that fear, the more speaking events you do the better you will become. Practice makes perfect. You can do a raffle or simply pass around a sign-up sheet (to collect everyone's name & contact info) for any future offerings that you will be doing.

Please comment below if you have any other tips that you have used in your business to grow your list~I would love to hear from you!

Kelly Lynn Adams, Empowerment Life Coach http://www.kellylynnadams.com Follow me on Twitter: @kellylynnadams Follow me on Facebook: kellylynnadams Article Source: http://EzineArticles.com/?expert=Kelly_Lynn_Adams

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Thinking About How to Start Your Own Business? Consider This Advice

By Adam Gleason 

Are you thinking about how to start your own business? Is job security in doubt for you, no matter how long you've been employed in your present job? Does it seem as though there is less work to go around? Look around you, is the atmosphere of your workplace a bit more somber than usual?

Then it's probably time to start your own business now.

Ask people who've owned their own businesses, and they will urge you to stop working for other people. There's nothing quite like the freedom of being self-employed. They will tell you that they cannot even imagine being anything but working for themselves. Not only are they their own boss and get to set their own hours, being self-employed has improved their quality of life, giving them the opportunity to always be there for their family--something that most other people, those who don't own their businesses, can't usually enjoy.

With that said, the first steps on how to start your own business and continuing to enjoy the benefits of being self-employed can be very hard work. Especially when first starting out, you need to accept the fact that there will be many lessons to be learned and many adjustments that will need to be made along the way-both to your business, yourself, and your loved ones.

If you start your business now, you will have many experiences unlike what you've been expecting. You will see that being self-employed is tremendously different from working for someone else and it takes much more than just simple desire to be successful.

When you work for someone else, you usually have a boss of some sort, a specific set of responsibilities and you are accountable to others. Your boss is there to guide every piece of the business, and your role is secondary at best. But when you are self-employed, you are the boss and you are responsible for just about every facet of your business. Many times, especially when first starting out, you will not only be the boss, but you will also be the book-keeper, personnel manager, project manager, clerical staff, supplies or procurement officer, as well as whatever job title you have for the job or service you actually provide.

When you are self-employed, you can't blame any problem on the boss. There is no one to report to other than yourself. Yes, there are clients that you have some level of responsibility and accountability to, but when it comes to whether they are happy or not happy with your services, you are the only one involved in that process. There is no boss to write you up if you do poorly and there is no boss to give you a pat on the back when you do a great job. It's just you being accountable for you.

On the flip side, if you do make a blunder, who will be there to admonish you but yourself? There's no fear of your mistake appearing on your annual evaluation, or of a cut in your salary, or even a demotion. Even better, if your company makes a big sale or achieves a milestone, who but you will take all the glory and the credit? Hey, this is something you will enjoy right away if you start your own business now!

Are you wondering if you have the right personality traits of successful entrepreneurs? Some studies will tell you that it takes a type A personality to be successfully self-employed. Others disagree and say that it just takes certain traits and not one specific type of personality. In actuality, it doesn't necessarily take a type A personality to start your own business or be successfully self-employed. However, it might be a good idea to examine your own personality traits while you think about how to start your own business.

If you are a quick learner, then you'll be perfect to start your own business now. You'll find yourself learning things like finances and marketing. You'll learn how to account for the business' revenue and expenses, and how to project yourself and what your business offers out to the rest of the world. Even if you consider yourself a bit on the shy side, if you believe in yourself and your business goals, you will unconsciously bring yourself out of your shell in order to achieve your dreams.

You are wise to do some research on the topic of how to start your own business, and on the type of business that you are thinking of starting, so that you can be clear on the effort, investment, and hard work that it will entail. There are so many benefits to being self-employed, and the payoff can be quite exhilarating.

Want to learn how to start your own business? Your timing is perfect - because it's never been easier! Kevin Harnel did it - and eventually left his six-figure job for more freedom, quality of life and financial security. Download a FREE copy of Kevin's highly informative ebook, BEST BUSINESSES TO START RIGHT NOW at StartYourOwnBusinessNow.net? Take control of your life. Start building your future! Article Source: http://EzineArticles.com/?expert=Adam_Gleason

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How to Come Up With a Great Business Idea

By Michael C. Dwyer 

Unless you live under a rock, you know that people (teens included) are becoming rich off businesses. And unless you actually are a rock, you probably want to be one of them. We've all heard horror stories about businesses failing miserably and owners losing their life savings. But most of these failures come down to two major mistakes.

1. Owners giving up on their business because it hasn't performed as well as they thought or because they couldn't handle the stress. 2. Not having a great idea and a fool-proof plan.

While some businesses may go out for reasons that can't be planned for, many others do go out for the reasons mentioned above. That is why having a sound business idea is important.

Ideas aren't always perfect

I'm going to let you in a little secret that will save you a lot of trouble. Don't look for that perfect business idea, because that perfect business idea will never come. Businesses will almost always have flaws and while its good to scrutinize a business idea, be careful not to be over analyze it.

Revolutionary ideas don't work out

This is going to be controversial because a few entrepreneurs have grown rich from revolutionary ideas; Bill Gates, Paul Allen and Steve Jobs, to name a few. However, most revolutionary ideas aren't the ones that make it big. Revolutionary ideas are almost impossible to do well in for several reasons... 

• Your on your own, in terms of help. If your idea is truly revolutionary nobody will be able to help you.
• Lots of trial and error in order to figure out what works
• No demand for what you offer
• People don't like change, expect high marketing budgets if you want to sell your idea to the public.

The best thing to do is let other people experiment with these ground breaking ideas, while you stick to ideas that have already been perfected.

Piggyback off others success or non success

Great ideas don't only come from people with a great business sense. Yes it is true! Even people with a bad business sense can come up with great ideas. Identifying a business that is managed poorly and either buying it or starting a competing business is a great way to start a business. The key to this though is to out do your competition in every aspect. In order to make this method work you need to out-market, out-promote, out-negotiate and out-perform your competition. Let your business skills go to work, because if you take this route you will need them.

Improve on what is already there

There are a lot of businesses, A LOT! Most of them look-alike and function alike. Starting yet another business like the rest isn't going to make you money. What you should do is ask yourself "Why would anyone want to my (insert business here) instead of the one at the top of Google, down the street, etc." By identifying what you can provide that your competitors don't you've already taken a step many business owners overlook. Being the first in an industry isn't as important as offering the most. This method is, in my opinion, the very best way to start a business. Here are some companies that started this way, perhaps you've heard of them...

Walmart - Beat competitors by having a smaller mark up on goods. Amazon - Beat competitors by offering customers the best possible experience. Google - Finely tuned search engine offered better results than competitors.

Opportunity from inconvenience

Nobody likes inconveniences and in order to avoid them most people are willing to pay. This is the simplest method for starting a business. It requires very little thought, just find something that is an inconvenience. If it is on the internet, write a program or an info product that deals with the issue. If it is inconvenience that doesn't deal with the internet, your best bet is to provide a service and not a product. Since selling products without the internet usually involves brick and mortar stores.

Hey I am a 14 year old entrepreneur and investor who writes personal finance tips for teens and parents. Read my blog on how to invest. Article Source: http://EzineArticles.com/?expert=Michael_C._Dwyer

Thoughtful Entrepreneurs - Uncover 7 Ways To Convert Knowledge Into Money

By Beverly K Taylor 

You can convert your expertise into money. How? By making information products containing your expertise. Tell your story about how you triumphed over adversity. Share your passion in the form of information products and a coaching program that shows your niche market a way can be found to improve their situation. You already have a sphere of influence when it comes to your trade or expertise. You already know something that can improve things. Your expertise is worth money. And rightly so! Keep reading to uncover how to use the internet to convert your knowledge into money:

1. Read through online discussion boards and look at the complaints of people. Look for patterns of complaints. Connect with these people empathetically by sharing solutions that actually relieve their pain and suffering. This will attract people to your website and convert them into paying customers and clients.

2. By recognizing the complaints found on discussion boards, you can see what information products to make and sell to your niche market. Make a product for each step of your system or process for solving the individual problems found within your profession. This is another way to bring in supplement revenue together with your amazing coaching program.

3. Promote your information products by developing the amazingly effective marketing technique called article marketing. Even if you think you are not a writer, you really are. You do write emails, correct? You do send birthday cards or other types of greeting cards, right? Well, that makes you a writer. Just write from your heart about ideas to improve your ideal prospect's common complaints that no one else has solved. They will get the message that you really do care about them and are the 'go to' source to solve their problems.

4. Thoroughly do market research and find a niche that already has money to pay you to share your expertise before you start creating information products. It is better to pick something you know or that you are interested in knowing.

5. Build a list and market your expert knowledge to your list. You do this by exchanging an ebook or an audio download in exchange for the prospect's email address. After you get the email address, stay in touch sending them more and more solutions to their problems. This is how you build your relationship and trust with your prospect.

6. Do an email marketing campaign that shares your knowledge and information to improve the lives of your niche.

7. Hire a coach to help you streamline your process of sharing your knowledge globally. It will save you time, money and frustration in the long run.

By the way, do you want to learn more about using articles like this to drive traffic to your website and increase your income online? If so, I suggest you download this free ebook: "How to Take Your Offline Business Online Fast: Article Writing Fast and Easy". To download this free ebook, click here: http://www.offlinelocal2onlineglobal.com Article Source: http://EzineArticles.com/?expert=Beverly_K_Taylor

Taking Control of Your Life - Just Get Started

By K. MacKillop

You know how when you buy a new car you suddenly see other cars just like that everywhere you go? Before you bought it, you never noticed them at all...but now they seem to be all over the place! The same sort of thing happens once you take the first step into entrepreneurship. That is, seeking out the first opportunity and taking steps to pursue it very often expose a multitude of other opportunities as well. All you have to do is take the first step!

Most wealthy, successful entrepreneurs will tell you that they changed direction a number of times from their first startup idea. For some, the final result is just a variation of the original idea, such as a real estate agent jumping into the house flipping industry. One entrepreneur started out with an online car part retail store. A few months after launching, a former metal worker contacted her about partnering to market customized parts. A few months after that, an interested investor financed the launch of a full garage for fabricating specialty parts and customizing street racers!

For others, the change is far more dramatic. Another entrepreneur started out with a dog training business but ended up a regional flooring distributor! The training company was doing just fine, but the income was limited by the number of hours he could train. A client mentioned an open distributorship in the flooring industry and he jumped at the opportunity. Less than one year later, the training facility is run by a staff of employees and the distributorship is rockin' along as well.

Stories like these are very common in the world of entrepreneurship. A recent documentary called Lemonade is about the different paths that laid off ad folks have taken. The guy who made the documentary? He started out launching an advertising industry job board, but when the opportunity to make the documentary came along, he grabbed it and ran. Now, he is focusing his work efforts on creating more documentaries...and loving every minute of it!

The key to really taking control of your work life and financial future is twofold. First, just get started in the right direction. Second, be ready to seize opportunities as they come along. The more hooks you have in the water, the more likely you are to snag a few fish. Don't limit yourself to the ideas you have right now. Entrepreneurship is a learning process. No matter how much schooling or work experience you have, there will be hard lessons and realities that surprise you on your path to success. The trick is to take advantage of every situation and always be looking for the next foothold up the cliff.

Whatever your goals for taking control of your life, just get started. Look for the obvious business ideas, pay attention to what the people around you need. Figure out what you know and what you don't know about entrepreneurship and take steps to fill in the gap. Don't wait for the perfect idea, get going now with a good enough idea! The first one may not make you rich, but it will get you on track to find the right opportunities that will change your life!

About the Author- K. MacKillop, a serial entrepreneur, is co-founder of LaunchX, a company designed to develop and train potential entrepreneurs to succeed. The LaunchX System, delivered through seminar format or at-home study, helps entrepreneurs start a business based on their own idea. It includes step-by-step business startup instructions, key software, business tools, comprehensive entrepreneurial skills training, and more. Visit LaunchX.com to learn more about this revolutionary way to become an entrepreneur. Article Source: http://EzineArticles.com/?expert=K._MacKillop

Personal Leadership Development Plan - Your Starting Point To Success

By Sean McLaughlin and Tegan Hadley

If you truly want to become a successful leader, you need to utilize a personal leadership development plan. All of our great leaders, young or old, have one thing in common. They are all great goal setters and have a plan set in place which provides a pathway for them to be able to live their greatest dreams and desires. They know exactly what they want before they set their goals; simply wishing for success is not enough.

You need to be absolutely determined if you truly want to stand up and move towards your goals and dreams. The main difference between leaders and followers lies in the fact that leaders will do the things that followers do not like to do. Leaders have a purpose strong enough to be able to form the habits of doing the things they don't want to do, in order to obtain the results they wish to obtain.

Here are some crucial steps for your personal leadership development plan:

• Be prepared to do what it takes to achieve your dreams. Saying you want a big house, a luxury yacht or a sports car is all a very nice idea, but the point is... are you willing to pay the price to obtain them? Remember, this is the primary difference between the leaders of the world, and the followers.

• Take 100% responsibility for your life. To blame a situation or another person is saying they have control of your life and not you. Don't let someone else's opinion of you become your reality.

• Act immediately. Stop procrastinating and make the decision to start in your quest to become successful. We don't know how much time we have to achieve our dreams, but we do know that we don't have forever. Successful leaders understand this, and instead of viewing it as a negative platform, they use it as an opportunity to motivate and inspire themselves enough to take the step into leadership.

• Leaders live their lives with purpose. If you have passion about what you are doing is going to make that much easier to achieve your goals and dreams, and you will have fun while doing it.

• Focus is a key aspect of your personal leadership development plan. Every day we are bombarded with phone calls, tasks, messages and everyone trying to take our time away. But in reality, nobody can steal your time away. You are responsible for your time. It is YOU who lets them steal it. If you want to be a leader, you need to learn to manage this inevitable force and work with it, rather than against it. If you make the decision to maintain focus you are investing your time in something that will pay off in the long term.

• Write out a definite plan for Achieving your goals. A goal that isn't written down is merely a wish or a fantasy.

• Here is the hot tip. Go after what you want as energetically and as enthusiastically as you can, for as long as you can. You are not getting any younger.

Where does it all fit in?

Developing an action plan enables you to stand out amongst the crowd. Make the decision today to become an expert in your field. You can be ahead of the game, just through a little research into what the leaders in your field are doing. With that extra little bit of passion, you will soon find yourself the leader of your chosen field. You will be the benchmark, and just by following a few steps of your personal leadership development plan, you will find yourself living in a world where you are everything you have always wanted to be.

Are you desperate to become a successful leader? Are you ready to fight for your greatest dreams and desires? Don't struggle on alone - make the most of the free advice and information on our website,http://yourpersonalleadershipdevelopment.com/ Article Source: http://EzineArticles.com/?expert=Sean_McLaughlin