Can You Be An Entrepreneur? Psychtests Releases Study Results On Key Traits For Successful Entrepreneurs
Psychtests.com helps aspiring entrepreneurs take the first crucial step by releasing a personality test to assess their potential.
MONTREAL, CANADA (MARKETWIRE) -- March 8, 2011
Would-be entrepreneurs can learn a bit more about what it takes to succeed in a dynamic business world with Psychtests "Entrepreneur Personality Test". Data from Psychtests' large-scale study reveals that successful businesspeople tend to possess certain key traits that differentiate them from others.
Once upon a time, all an aspiring entrepreneur needed to make a name for himself or herself was capital and an original idea or invention. Times have changed. Entrepreneurs need to have the right stuff to tackle the already bloated business world, and it takes more than a charismatic voice to peddle a towel that dries liquid in an instant, or an oxygen-based stain remover to get even those stubborn grease marks out.
Owning a franchise does come with risks. Funding and fees need to come out of the franchisee's own pocket; there is little wiggle room for change, and the owner is responsible for hiring, firing, and training. The benefits however, do tend to balance things out. With a franchise that is already well-established, an owner won't need to scratch out a niche in an already bloated market, come up with new ideas for products, or make a reputation for himself or herself. The golden arches, the little redheaded girl with braids, or the steaming cup of coffee where one can dunk a doughnut will speak for themselves.
In collaboration with the author of the "The Entrepreneur Next Door", Bill Wagner, Psychtests created an assessment that would evaluate an individual's entrepreneurial potential. The test covered seven key business traits, namely Self-sufficiency, Conscientiousness, Drive, Social Skills, Optimism, Risk-taking, and Networking Ability. With over 12,000 test-takers to date, Psychtests data revealed that entrepreneurs who took the test outscored those without business experience on every scale. When comparing female vs. male entrepreneurs, men were more driven than women (score of 67 vs. 62 on a scale from 0 to 100), while women had better social skills (70 vs. 67) and tended to be more optimistic (72 vs. 67).
"Entrepreneurs clearly have a personality pattern that places them distinctly apart from others," asserts Dr. Jerabek, president of Psychtests. "To be able to wager your life savings on what often seems like a pipe dream to others takes a special type of character, and our data shows this. For example, 72% of test-takers who are entrepreneurs indicate that they are quite comfortable taking monetary or work-related risks, compared to 54% of the rest of the test-takers in our sample. Entrepreneurs also tend to describe themselves as being more ambitious than regular people. This says a lot. They know that they are different from others."
When comparing individual answers on Psychtests' assessment, self-made business owners continued to differentiate themselves from the rest of the population:
"Starting a business involves a lot of ambiguity, uncertainty and responsibility. Those who jump into it strictly to make money, gain power or be in charge of their schedule end up blindsided by the realities of what it's really like to build and run their own business," points out Dr. Jerabek. "It isn't easy and it isn't for everyone. This is the benefit of an entrepreneur personality test - would-be businesspeople can get a taste of what it takes to make it and where they stand."
Entrepreneur Bill Wagner too knows the importance of knowing one's entrepreneurial strengths. "The entrepreneur test is must have information. We know that for entrepreneurs, it's all about independence, control, authority, power, and autonomy. You need to know where you fall on the entrepreneurial spectrum so that you have a stronger sense of what to work on."
Those who wish to use the Entrepreneur Personality Test for HR purposes can go to: http://corporate.psychtests.com/solutions/hr_testing.
Those who wish to take a condensed version of the test to assess their entrepreneurial potential can go to: http://testyourself.psychtests.com/testid/3011.
About Psychtests AIM Inc.
Psychtests originally appeared on the internet scene in 1997. Since its inception, it has become a pre-eminent provider of psychological assessment products and services to human resource personnel, therapists, academics, researchers and a host of other professionals around the world. Psychtests staff is comprised of a dedicated team of psychologists, test developers, researchers, statisticians, writers, and artificial intelligence experts. Psychtests was founded and is led by Dr. Ilona Jerabek, a specialist in the field of psychometric assessments and Vrat Jerabek Ph. D., a researcher and authority in the field of artificial intelligence.