Entrepreneurial Assessment Exercises one and two

Entrepreneurial assessment
afroamerican-499209_640Test 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.

Leave a Comment