ET – The DNA for business excellence

This article is not about the movie ET the Extra-Terrestrial a film directed by Steven Spielberg but about Entrepreneurial Traits that is required in every person who wants to be successful in the field of business. Entrepreneurs are considered vital to the development of our economy since they create wealth and jobs. And while Technofirst through ‘I’m an Entrepreneur’ campaign are always on the lookout for ways to spark entrepreneurship in the campus, no one knows precisely what leads people to start their own business. Whether the entrepreneurs are ‘born or made’, is a question that appears to be the basic argument between nature and nurture. I strongly believe that the entrepreneurs are both born and made. Because when some people are born with natural talent and risk tolerance, entrepreneur-ship skills can be learned by everyone.

Let me share my own experience. I was born in a middle class family where both my parents were social workers. Their was no entrepreneurial culture in my family. Despite all the objections I became family first entrepreneur in 1987 after completing my college education. The year 1987 was still the licensed raj where elaborate licenses, regulations and the accompanying red tape that were required to set up and run business in India.

It's not that certain people are predestined to be entrepreneurs. In addition to in-born characteristics, there are important entrepreneurial skills that can be learned. Chief among these is the ability to see and articulate a vision, as well as to build and motivate a team. Unlike in-born characteristics, there are tools used in the application of these skills, such as opportunity identification, evaluation and communication, and consequently they can be learned from others and continually improved. We all can learn how to do it. But some personal characteristics will lead you to do better than others.

Below is an entrepreneurial assessment test, which will help you in your personal evaluation process. The traits detailed below generally identify who is and who is not cut out to be entrepreneur.

Rate each of the following 11 characteristics using the following scale.

+2	Very strong in this characteristic
+1	Possess this characteristic
0	Don’t know
-1	Have very little of this characteristic
-2	Do not possess this characteristic

Characteristics	+2	+1	0	-1	-2
1. Creative
2. Take Calculated Risk
3. Self-Confident
4. Dynamic
5. Like to Lead others
6. Market Savvy
7. Resourceful
8. Persevere/Determined
9. Optimistic
10. Knowledgeable
11. High Energy Level
Total						Grand Total =

Total your score for the eleven characteristics.

· Add the pluses and subtract the minuses.

· Your score will fall between –22 to +22.

· Below 15? Wait and try another day because if you’re between +10 and +15 you have leadership instincts that can someday put you over the top.

· A high positive score demonstrates you share many of the characteristics of successful entrepreneurs.

· Negative or low positive scores indicate you may not currently possess or rely on these characteristics.

· Low scores do not mean one will not be an entrepreneur.

For example, an individual tested or assessed has all the apparent attributes of an entrepreneur profile and then fails in their new venture they undertake, the mantel of an entrepreneur can never be worn because the word "Entrepreneur" embodies the word "Success".

So you may be wondering how you can work on being an entrepreneur. Here’s a list of a few things that have helped me in the past,

• Realize that all of us have an entrepreneurially side to us,
• If you want to start a business, make sure that you pick something your really passionate about,
• Take small steps, and accept the fact that there are going to be set backs,
• Create a plan on how you’re going to deal with set-backs as they come up,
• Fine tune your idea by bouncing it off friends and family,
• Start making a plan on how you would like your business to start, and how it will grow,
• Constantly improve your skills, never stop learning, and.
• Try to have fun…the more fun you have the better off you’re going to be!

Finally remember, anyone can start a business. The secret is picking a venture that fits your entrepreneurial personality.