Entrepreneurial Assessment Exercises one and two

Test your readiness to go into business by doing the following exercises.  You should first read –Are you ready for entrepreneurship in Trinidad and Tobago Exercise one This considers whether you have the characteristics/qualities of an entrepreneur.  The rating are as follows:  Rate 5 excellent, 4 is very good, 3 is good, 2 can be improved and 1 poor.  Be honest.

No	Characteristics	Rate1	Rate2	Rate3	Rate4	Rate5	Action Plan
1	Perseverance
2	Drive to succeed and make money
3	Self-confident
4	Works well even though some things are uncertain
5	Takes responsibility for actions
6	Self-discipline
7	Competitiveness
8	Patience
9	Organizational skills
10	Self-reliance
11	Visioning
12	Flexibility
13	Risk taker
14	Persuasiveness
15	Commitment
16	Problem solving/critical thinking
17	Networking skills
18	Ethics/clear personal values
19	Social responsibility
20	Good judgement
21	Good Physical Health
22	Resourceful
23	Innovative
24	Open to learning
25	Results oriented
26	Analytical ability
27	Adaptability
28	Balance
29	Negotiating Skills
30	Communication
31	Customer relationships
32	Teamwork

Assessment.  Note your strong areas – these are your strengths, the areas in which you judge yourself to be needing improvement and poor are those areas you need to pay attention too.  Don’t despair our life skills component  seewww.supportbistt.com, is aimed at addressing your weak area and there are other sources of help available in Trinidad and Tobago. Exercise two Do a Business SWOT  – (Strengths, Weakness,  Opportunities, Threats)  This should be done when you are considering a business idea and all aspects of the SWOT are affected by the nature of the business you are going into. BUSINESS SWOT

SWOT	Questions	Answers
Strengths	What things make me different from my competitors or that I do well? What things/networks/resources/capabilities/ qualifications/experiences, etc. do I have or can easily get Products/services/support structures, etc.
Weaknesses	In what areas are other businesses better than my own What are my business weak areas? What weaknesses do my customers and employees talk of with respect to the business
Opportunities	What opportunities are available to me? Use Pestle to determine this
Threats	What things can harm me or prevent me from achieving my business goals? Use Pestle to determine this Include major competitors

Make a plan to: Build on your strengths and see how you can use it to further your business, Make use of your opportunities Improve in weak areas Reduce the possible bad effects of threats. Please note that this SWOT is being done at a very preliminary stage and you may need to revisit it later on as you consider in more detail your business idea.