The Franchisee/New Business Owner Test is a self-assessment tool for those planning on becoming self-employed to help them gauge their likelihood of success and/or satisfaction.
This test provides the answers you need to make informed decisions about your future.
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Want to run your own business? Take this online personality test and see if you have the chops!
Purpose: Have you ever thought about starting your own business? Do you have the personality to be a success in starting from scratch: coming up with your business concept? putting together a plan? seeking out mentors and investors? Doing your own marketing and sales? tolerating the unknown–especially with your own income? The determination to bring it all together to build a success enterprise? This test will give you some insights on whether you could be a success at starting your own company and whether you would be happy with this type career path. It will help you identify the person has the personal traits that are necessary for success in an entrepreneurial role where the individual has to conceptualize the business purpose, then nurture and grow the business through dint of their own effort, including securing financing, marketing, and sales.
About the Test: This test is based on an 88 question untimed personality inventory. This test will probably take most people 15 minutes to complete.
What the Report Gives You: A graphical display of scores on 12 dimensions that have been shown to be predictive of success as an entrepreneur. To help you understand what the scores mean for you, the report interprets those scores with a list of strengths and developmental concerns for how well you will function in an entrepreneurial role. Last, it gives you summary scores for both “Predicted Satisfaction” and “Predicted Success” as an entrepreneur. Our internet-based testing allows you to complete it when it is convenient to you. When you finish, a report can be downloaded.
Testing Process: Online testing provides immediate reporting. Proctoring is desirable but not required.
Validity Information: Research on the traits measured in the Entrepreneur Potential Assessment were conducted on several hundred entrepreneurs who agreed to share their personal experiences of being in an entrepreneur role as well as indices of business performance. It is clear that these personality dimensions have a huge impact on both personal satisfaction in this type work role and the degree to which they were successful in their business ventures.
So, if you score in the top third on this test, you can be assured of having a high potential for success in starting your own business or buying a franchise. For example, take a look at the bottom row in the table — people who score in the top third were, by and large, very happy in their new work roles, and they had nice sales and profits to show for it. That should give you added confidence to get started!
But, if you score in the lower third, you have a much lower potential for success. The “Lowest third” line on the table below shows that not even half of these people were happy being an entrepreneur and almost none were satisfied with their income. These predictions should give you pause about quitting a comfortable job to launch out on your own. A score like this should cause you to think twice before taking out a big loan that might put your family’s lifestyle at risk if your business plan fails to pan out.