Do you have what it takes to be an entrepreneur? [2006]
- Date : (2006-11-27)
- Author : SAIE
Do you have what it takes to be an entrepreneur?
Profile Herman Mashaba and his wife Connie started Black Like Me with virtually nothing. They became the first South African company to produce hair care products specifically for black customers. Demand for Black Like Me products grew rapidly and they soon had to move from their tiny premises to a much larger factory. However, a few years later, tragedy struck and the new factory was totally destroyed in a huge fire. They lost everything and were faced with bankruptcy. Yet, Herman never gave up. He rebuilt the business from scratch. Today, Black Like Me is a multi-million rand business, with products distributed throughout Africa and in the UK.
Are you a potential entrepreneur? Take our Entreprometer quiz to see whether you have the qualities needed to be a successful entrepreneur.
Entreprometer quiz 1) You have a great idea to help your company make more money. What would you do? a) Talk to your boss and convince him/her to use your idea. b) Send your boss an email telling him/her how great your idea is. c) Say nothing as it probably wouldn’t work anyway.
2) Your customers often complain that their orders are delivered late. What would you do? a) Call a meeting with colleagues who process orders and deal with the problem immediately. b) Send a memo to your boss requesting that he or she solve the problem. c) Tell your customers that there’s nothing you can do about it.
3) Your boss asks you for suggestions for how to improve production. What would you do? a) Excitedly reel off a list of your ideas. b) Tell your boss you’ll get back to him/her and ask your colleagues for their opinions. c) Tell your boss you don’t think you’re qualified to make any suggestions.
4) You encounter a problem at work. What would you do? a) Think about it and try lots of different ways to solve the problem. b) Inform your boss or supervisor so that they can handle it. c) Ignore it and hope the problem will go away.
5) A customer phones you requesting a product that your company doesn’t stock. What would you do? a) Call all your suppliers and try to locate the product yourself. b) Send an email to your stores department and ask them to find the product. c) Tell the customer you can’t help.
For every “a” answer, you score three points. For every “b” answer, score yourself two points. For every “c” answer, you score no points.
If you scored 11-15 points, you are a born entrepreneur! If you scored 6 - 10 points, you display many entrepreneurial qualities and will learn more as you go along. If you scored 0 - 5 points, you still like your comfort zone and need time to face your fears and get used to the idea of taking risks.
Five common qualities of successful entrepreneurs. 1) Passion. Loving and believing in what you do is very important to success. 2) Self-starting. Taking initiative is vital to ensure that whatever needs doing gets done. 3) Self-confidence. Belief in yourself gives you the courage to take risks and overcome your limits. 4) Determination. Perseverance and commitment enable you to overcome hurdles and never to give up. 5) Flexibility. Being able to adapt to any situation will help you to face and solve any problem or challenge that comes your way. Many entrepreneurs share similar qualities, yet you may not possess all of these qualities yourself. What’s important is how your qualities can help you to achieve success.
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