NEWSLETTER SIGNUP
What is your EQ?
What's Your EQ? Take Our Quiz and Find Out!
Common characteristics in areas such as family background, childhood experiences, core values, personalities and more turn up time and time again in studies of entrepreneurs. Find out how you fit the mold by determining your Entrepreneurial Quotient, or EQ. The following test is no measure of your future success, but it may show you where you excel and where you need to improve to help make your business soar.
Answer the following questions with a “yes” or “no,” and total your score at the end to find out your EQ. Print this short test and see how you score!
| 1. | Did your parents immigrate to the United States? |
| 2. | Were you a top student in school? |
| 3. | Did you enjoy participating in group activities when you were in school, such as clubs, team sports, or double dates? |
| 4. | Did you prefer to be alone as a youngster? |
| 5. | Did you run for a school office or initiate enterprises, such as a lemonade stand, a family newspaper, or greeting card sales? |
| 6. | Were you a stubborn child? |
| 7. | Were you cautious as a youngster? |
| 8. | Were you daring or adventurous as a child? |
| 9. | Do the opinions of others matter a lot to you? |
| 10. | Would changing your daily routine be an important motivator for starting your own enterprise? |
| 11. | You might really enjoy work, but are you willing to work overnight? |
| 12. | Are you willing to work as long as it takes with little or no sleep to finish a job? |
| 13. | When you complete a project successfully, do you immediately start another? |
| 14. | Are you willing to commit your savings to start your own business? |
| 15. | Would you be willing to borrow from others? |
| 16. | If your business should fail, would you immediately work on starting another? |
| 17. | Or would you immediately start looking for a job with regular paycheck? |
| 18. | Do you believe being an entrepreneur is risky? |
| 19. | Do you put your long and short-term goals in writing? |
| 20. | Do you believe you have the ability to deal with cash flow in a professional manner? |
| 21. | Are you easily bored? |
| 22. | Are you an optimist? |
HOW RESULTS ARE CALCULATED - The EQ Test
| 1. | If yes, score one point; if no, subtract one. Significantly high numbers of entrepreneurs are children of first generation Americans. |
| 2. | If yes, subtract four points; if no, add four. Successful entrepreneurs are not, as a rule, top achievers in school. |
| 3. | If yes, subtract one point; if no, add one. Entrepreneurs are not especially enthusiastic about participating in group activities in school. |
| 4. | If yes, add one point; if no subtract one. Studies of entrepreneurs show that, as youngsters, they often preferred to be alone. |
| 5. | If yes, add two points; if no, subtract two. Enterprise usually can be traced to an early age. |
| 6. | If yes, add one point; if no, subtract one. Stubbornness as a child seems to translate into a determination to do things your own way–a hallmark of successful entrepreneurs. |
| 7. | If yes, subtract four points; if no, add four. Caution may involve an unwillingness to take risks, a handicap for those embarking on previously uncharted territory. However, this should not affect our future as a franchisee since in most cases the franchiser has assumed most of the start-up risks. |
| 8. | If yes, add four points. |
| 9. | If yes, subtract one point; if no, add one. Entrepreneurs often have the faith to pursue different paths despite other’s opinions. |
| 10. | If yes, add two points; if no, subtract two. Being tired of daily routine often precipitates an entrepreneur’s decision to start an enterprise. |
| 11. | If yes, add two; if no, subtract six. |
| 12. | If yes, add four points. |
| 13. | If yes, add two points; if no, subtract two. Entrepreneurs generally enjoy their work so much, they move from one project to another nonstop. |
| 14. | If yes, add two points; if no, subtract two. Successful entrepreneurs are willing to use their savings to finance a project. |
| 15. | If yes, add two points; if no, subtract two. |
| 16. | If yes, add four points; if no, subtract four. |
| 17. | If yes, subtract one point. |
| 18. | If yes, subtract two points; if no, add two. |
| 19. | If yes, add one point; if no, subtract one. Many entrepreneurs make a habit of putting their goals in writing. |
| 20. | If yes, add two points; if no, subtract two. Handling cash flow properly is critical to entrepreneurial success. |
| 21. | If yes, add two points; if no, subtract two. Entrepreneurial personalities generally seem to be easily bored. |
| 22. | If yes, add two points; if no, subtract two. Optimism can fuel the drive to press for success in uncharted waters. |
Results of Your Quiz
Your Score is _________
Summary
Your background skills and talents matched up against the traits of other successful entrepreneurs indicate the following entrepreneurial quotient, or EQ.
Score Rating
| 35 to 45 | Spectacularly well suited |
| 15 to 34 | Excellently suited |
| 0 to 14 | Good chances |
| -1 to –15 | Possible |
| -16 to –43 | Not Good |
