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Assessing entrepreneurial personality: how entrepreneurial are your coachees?
In this 3 minute blog, I’ll tell you more about how to evaluate business owners, quickly and accurately. Above all, to further develop their entrepreneurial mindset.
Being an entrepreneur isn’t easy; it’s hard work. Moreover, having and running a business doesn’t mean someone is equally entrepreneurial. So, entrepreneurs differ in the degree of being entrepreneurial.
We create profiles of the entrepreneurial potential through E-Scan for many coaches, daily. Above all, to further develop the entrepreneurial DNA of their clients. Based on their profile, we also calculate their Entrepreneurial Index.
Who is a potential entrepreneur?
The Entrepreneurial Index is a free indicator of how entrepreneurial someone is. The index ranges from 0 to 100. If people have an entrepreneurial score of 30 or lower, for sure they show many weak points. However, should they be way more pro-active, market-oriented, and willing to take risks to create something new that wasn’t there before, they could score an impressive 90.
Our mission is to develop entrepreneurship worldwide. So, to further develop the entrepreneurial potential of your clients; how entrepreneurial are your coachees? In other words, what would their Entrepreneurial Index be?
Definition of entrepreneurial
That brings us to the question, that is often debated: what is entrepreneurial? Well, there are many scientific views on the definition of what an entrepreneur is and does.
The scientific definition of entrepreneurship I designed for my research is made of two crucial aspects of entrepreneurship. The first aspect is not only owning a business but also running it. That is to say, being responsible for profit and loss. The second and foremost aspect is being entrepreneurial. At least entrepreneurial enough for the market the owner is targeting. So, our definition is:
An entrepreneur sees opportunities, exploits them by creating value for themselves and others in a sustainable way.
E-Scan participated in a television program, called ‘100% entrepreneur’. The participants needed to show the skills of an entrepreneur. In a study performed under a little over 8,000 business owners that participated in this TV program, a typical entrepreneurial profile emerged.
The ‘100% entrepreneur’
So, what are the characteristics of an entrepreneur? What is the true skill set of an entrepreneur? What’s the answer to the question many people ask: “What does it take to be an entrepreneur?” Based on the participants’ entrepreneur personality profiles, derived from E-Scan, the 100% entrepreneur:
- Uses his manipulating power
- Gives his opinion without being asked
- Creates vision and new ideas for a competitive advantage
- Is (too) critical
- Works focused
- Likes to organize and manage things
- Sees problems as challenges
- Takes criticism personally
- Does well around others
- Wants to be the leader of a team
- Knows how to make others enthusiastic
- Is at his best when things run smoothly and orderly
- Is a pain in the ass when things don’t run (at all)
- Thinks constantly about the goals to reach
In short, a dreamer who acts. The entrepreneurial business owner puts his vision into practice. Moreover, that’s why creativity is so important for an entrepreneur. To make this fact come to live, read the beautiful example of a true entrepreneur and inspirational story of Mr. Selfridge.
What if you’re not entrepreneurial?
Do all entrepreneurs score like this? No, of course not. Do all business owners need to score precisely like this to be successful entrepreneurs? Again, no. Did anyone score 100? No, at most one or two. The average score was 58.
So, the more critical issue is that they have to be entrepreneurial enough for the business they run. The competencies they miss out need to be complemented one way or the other. So, the better they know themselves, and how to add different profiles to their weaker points, the bigger the chances of success.
A recent study conducted by Infusionsoft and Emergent Research, “Defining and Achieving Small Business Success,” discovered that small business owners are increasingly using paid coaches for overcoming challenges.
To overcome these challenges, they need business coaching to improve their management and leadership skills. In other words, to help them set and achieve goals and work through difficult business problems and decisions. However, do you have trouble finding clients? In other words: how do you meet entrepreneurs? Read 5 marketing methods for business coaches.
Everyone needs a coach. – Eric Schmidt, Executive Chairman, Google
How to assess entrepreneurial skills?
E-Scan is a scientific and reliable entrepreneur assessment test and helps you to develop business owners further. E-Scan gives you – in an instant – a detailed and accurate insight into the entrepreneurial profile of your client.
It helps to have that discussion about the entrepreneurs themselves. As a result, they start reflecting on their behavior, which otherwise tends to be discussed superficially. In other words, it will increase their self-awareness.
Did you know that only 28% of small business owners have accurate self-knowledge? Chances are small business owners make the wrong decisions based on their wrong self-image. Without coaching, that could have devastating consequences.
If you want to see how E-Scan can add more value to your clients; here you can request a Coach Demo.