Do You Know What It Takes to Be a Successful Entrepreneur?

By: Brian Whitney
Estimated Completion Time
5 min
Do You Know What It Takes to Be a Successful Entrepreneur?
Image: Compassionate Eye Foundation/John Wildgoose/DigitalVision/GettyImages

About This Quiz

An entrepreneur is someone who starts a business, with the thought of having financial success and also usually takes some financial risk to do so. Needless to say, not everyone has the knowledge, skills, and abilities to pull this off, at least successfully. Most people never even try to be entrepreneurs. Then there are others who try and then fail rather quickly. Only a few people try to be an entrepreneur and are really successful at it. So the question is, what makes someone successful at being an entrepreneur, and do you have what it takes to be one? Because if you do, you better get on it and start making some cold hard cash, and if you don't, then you probably shouldn't even try and go get yourself a job working for the man instead.

Some of the qualities that entrepreneurs have are pretty obvious. They are hardworking to a fault, they're imaginative, they are willing to take risks and they aren't afraid to fail. Oh, and they hate working for someone else. There are a lot of other qualities they possess that you might not have even thought of.

Do you have what it takes to be an entrepreneur? Don't quit your day job until you take this quiz and find out.

What should an entrepreneur be good at delegating?
Tasks to their employees
Lunch orders
Their own time
Political votes
Correct Answer
Wrong Answer

Delegating tasks is important. An entrepreneur needs to not only be good at what he or she does, they also need to be good at knowing the strengths and weaknesses of their employees.

What sort of undergraduate degree is most helpful for an entrepreneur?
Political Science
Correct Answer
Wrong Answer

An entrepreneur can have any degree, or no degree, and still be successful. With that said, a business degree is the best degree for an entrepreneur.

Should they believe in a product that they sell?
They should think it is decent.
They should think it is a ripoff.
They should think it is a great product.
They should think it is better than most.
Correct Answer
Wrong Answer

If you don't really believe in what you're doing, you probably won't succeed. A great entrepreneur truly believes in what he or she does.


Do entrepreneurs need a good business plan to succeed?
No, the best entrepreneurs just wing it.
It probably couldn't hurt.
Sure, if they have time.
They do, for sure.
Correct Answer
Wrong Answer

Many people who try to succeed think they have a good idea, but they don't really plan things out. A business plan is a must for true success.

How much money should an entrepreneur have to start out?
Enough to survive for at least a year before turning a profit
Enough to last six months
Enough to last a month
Enough to last a week
Correct Answer
Wrong Answer

You're setting yourself up for failure if you don't have enough money to last you a long time while you start your business. Have enough saved to last a year, or be prepared to work another job while you set things up.

Should an entrepreneur have good sales skills?
Nah, you can always hire people to do that.
They should, for sure
No, that doesn't matter at all.
Well, it doesn't hurt.
Correct Answer
Wrong Answer

To be a good entrepreneur, you don't need to be the best salesman ever, but you need to be pretty good at it at least. You can always improve your sales skills.


Is the customer always right?
Yes, always
Correct Answer
Wrong Answer

You always have to remember how important the customer is. Without satisfied customers, your place doesn't exist.

Should an entrepreneur have a good image in the community?
No, their personal life is totally separate from their business.
No, people are shallow.
No, they should make sure no one notices them.
Yes, it is very important.
Correct Answer
Wrong Answer

Even if you aren't known as the leader of your business, your image still matters. What you do in your community lets people know who you truly are.

Should an entrepreneur have good skills when it comes to technology?
For certain
Well, it doesn't hurt.
No, that shouldn't matter.
If the person is into technology, sure
Correct Answer
Wrong Answer

If you're going to not only get on top in business but stay there, you're going to need to be up on all the latest technology. Not too many people who are successful these days ignore technology.


What is one of the most important things for an entrepreneur to invest in?
Correct Answer
Wrong Answer

As an entrepreneur you need to invest in yourself. Training, workshops and books are all things on which you should spend money to succeed.

Should an entrepreneur be prepared to work lots of hours?
No, they should just chill out and make money.
Yes, at least 40.
Yes, at least 50
They should work as many hours as it takes.
Correct Answer
Wrong Answer

If they really want to make it, they have to go all in. They have to be careful not to work too hard though, since they could burn out.

Are marketing skills important?
No way
It is doubtful.
Yes, no matter how well your business is doing, you can always do better with more marketing.
It depends on your business.
Correct Answer
Wrong Answer

Marketing is incredibly important it you want to be a successful entrepreneur. If you can't do it well, you will need to find someone who can.


Are most entrepreneurs involved with their products?
Some are extremely involved, others are just investors.
Pretty involved
Kind of involved
Not involved at all
Correct Answer
Wrong Answer

While every situation is different, a true entrepreneur is very involved in their business. They also want to be, because they love it.

Are negotiation skills valuable to an entrepreneur?
No, they usually stink at it.
Who knows?
Yes, they are very important.
Correct Answer
Wrong Answer

Negotiating is one of the biggest skills an entrepreneur must have. It is hard to get far in business without knowing how to negotiate.

Is work environment important?
They always should make sure they have a good space in which to work.
It doesn't matter, a good entrepreneur can work from the back of their car if they have to.
They should pay some attention, but not that much.
They shouldn't pay any attention to this at all.
Correct Answer
Wrong Answer

A good work environment is different for everyone. Some people like to work alone at home, others need a busy office to feel like they are a part of something.


Are organizational skills important to an entrepreneur?
No, that stifles creativity.
Of course. They have to know what is happening at all times.
It depends on the person.
It doesn't hurt.
Correct Answer
Wrong Answer

Many entrepreneurs are free thinkers and free spirits. With that said, the more organized they are in their business, the more money they will make.

What would be a good Master's degree for an entrepreneur?
Master of Social Work
Master of Public Policy
Master of Business Analysis
Master of Theology
Correct Answer
Wrong Answer

Some entrepreneurs only have a high school education or a college degree. But a Master's always helps and lets others know they know what they're doing.

Do communication skills help an entrepreneur?
No, most of them are loners.
They can help, at times.
They almost always help.
Yes, whether it be verbal or written, strong communication skills are important.
Correct Answer
Wrong Answer

Whether you're communicating with customers or employees, if you want to make it rich, communication is key. Almost all successful entrepreneurs have this skill.


What would be a good certificate for an entrepreneur to have?
Project Management
Public Health
Addiction Therapy
Correct Answer
Wrong Answer

No matter who you are, you're never too old or too rich to learn. Taking advantage of certifications is important.

Is good credit important?
No, as long as they have a lot of cash.
It depends on the product.
It can't hurt.
Correct Answer
Wrong Answer

Being a successful entrepreneur has nothing to do with just how much cash you have on hand. At some point, you're going to prove to people you're reliable, and good credit does that.

Should an entrepreneur be good at running meetings?
No, they can hire someone for that.
Pretty good, I guess
Well, it doesn't hurt.
Correct Answer
Wrong Answer

Hardly anyone likes a meeting, but meetings are important. Being able to run one well means something.


Are entrepreneurs quitters?
Sure, that is why they are smart.
Some are
No, but they are pessimists.
No. They might give up on an idea, but never on themselves.
Correct Answer
Wrong Answer

Of course, entrepreneurs are optimists. Why would they start a business if they thought if would fail?

What is a good way for an entrepreneur to lead?
By example
Through fear
By lying
By acting cool
Correct Answer
Wrong Answer

If you want people to respect you, then lead by example. Walk it like you talk it.

Should an entrepreneur always be a conformist?
Pretty much always
No, they hardly ever are. Which is why they work for themselves.
Yes, it pays to follow the herd.
They sometimes are.
Correct Answer
Wrong Answer

Being original is something most successful entrepreneurs have in common. They do what they do, how they want to do it.


Should an entrepreneur ever sell their business?
Yes, when they are sick of what they are doing
No, not ever
Yes, when they can't stand everyone they work with
Yes, when the market is right
Correct Answer
Wrong Answer

If you're really trying to be successful, you sell at just the right time, not just when you feel like it.

If an entrepreneur has to fail, what is a good way for them to do it?
Quickly and cheaply
Slowly and cheaply
Quickly, but while spending a lot of money
Slowly and spending a lot of money
Correct Answer
Wrong Answer

Let's face it, a lot of businesses fail. If yours does, realize it quickly and get out before you lose your shirt.

Are writing skills important for entrepreneurs?
No, they have administrative assistants.
Yes, they need to get their messages across.
That doesn't really matter.
No, but spelling is
Correct Answer
Wrong Answer

In the old days, an entrepreneur could get by with just verbal skills, but not anymore. Written skills are very important.


Is a good team important for an entrepreneur?
No, only their decision matters.
Yes, they have to have one to succeed.
No, they only need a good spouse.
Yes, good employees are important, unless it is a solo business.
Correct Answer
Wrong Answer

Sometimes the truth hurts. That is why an entrepreneur should have people they trust helping them makes decisions, but not just family or friends.

Are social media skills valuable?
Yes, they are a must.
No, rich people don't need social media.
Yes, but only Twitter really matters.
They are helpful.
Correct Answer
Wrong Answer

If you're an entrepreneur, you need to get the word out, and social media is the best way to do that. Entrepreneurs need to get good at social media or hire someone who is.

What can obstacles be turned into by a good entrepreneur?
Bigger problems
Who knows?
Correct Answer
Wrong Answer

A true entrepreneur truly turns lemons into lemonade. If you think that is cheesy, you need to think more about being an entrepreneur.


Which of these is best suited for an entrepreneur to do in retirement?
Life Coach
Relationship Coach
Business Coach
Recovery Coach
Correct Answer
Wrong Answer

Entrepreneurs can make money a lot of ways once they retire. Being a business coach is one of the best.

What does a true entrepreneur do if they fail?
Start something new
Blame everyone else
Get a job
Correct Answer
Wrong Answer

If you're going to give up if one business idea fails, then you aren't truly an entrepreneur. Keep going!

Which job is one that could best prepare someone to be an entrepreneur?
Business Manager
Social Worker
Correct Answer
Wrong Answer

Some may think that an entrepreneur is born and not made, but that is only partly true. Experience is important.


Which of the following is not a skill an entrepreneur needs?
Sense of humor
Correct Answer
Wrong Answer

An entrepreneur needs many skills to get by. Being funny is not one of them.

What does an idea need to make a ton of cash?
It has to be brilliant.
It has to be brand new.
It has to be fun.
There has to be a market for it.
Correct Answer
Wrong Answer

Your idea can be brilliant and fun and new; that's all great. But if no one wants to buy it, then you're out of luck. A market for your idea is the biggest thing.

You Got:
Compassionate Eye Foundation/John Wildgoose/DigitalVision/GettyImages