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

Brian Whitney

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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

Are entrepreneurs quitters?

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?

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

Should an entrepreneur always be a conformist?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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.

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