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Personal entrepreneurial competencies, an assessment
In this 4 minute blog, you learn more on how to assess the personal entrepreneurial competencies (pecs) of business owners. An accurate evaluation of the characteristics of an entrepreneur. But, above all, aimed to further develop their entrepreneurial mindset and business growth.
Being an entrepreneur isn’t easy. It’s hard work and demands important traits. Moreover, starting a business or having and running a business doesn’t mean someone is very enterprising.
So, entrepreneurs differ in the degree of being entrepreneurial. Like, Mark Zuckerberg doesn’t have the same personality as Richard Branson or Steve Jobs.
We create profiles of entrepreneurs through E-Scan for many coaches, daily. Mainly to further improve the entrepreneurial DNA of their clients. Based on their profile, we also calculate their Entrepreneurial Index.
The Entrepreneurial Index is a free indicator of how enterprising someone is. The index ranges from 0 to 100.
If people have a score of 30 or lower, for sure they show many weak personal entrepreneurial competencies. However, if they an impressive score of 90, they are more likely to score high on creativity, market-awareness, and risk-taking.
Our mission is to develop entrepreneurship worldwide. To further develop the entrepreneurial potential of business coaching clients, we first have to assess how enterprising coachees are? In other words, what is their Entrepreneurial Index?
Definition of entrepreneurship
That brings us to the question, that is often debated: what is entrepreneurial? Well, there are many views on the definition of what an entrepreneurial personality is and does.
The definition of successful entrepreneurship consists of two crucial aspects.
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 enterprising enough for the market the owner is targeting.
So, our definition of entrepreneurship is:
An entrepreneur sees opportunities, exploits them by creating value for themselves and others sustainably.
Still, this definition doesn’t say much about the typical characteristics of an entrepreneur. So, if we would like to typify the personality of a true entrepreneur, what traits, skills, and characteristics come up?
E-Scan was used in a television program, called ‘100% entrepreneur’. The participants in this program needed to show the skills of an entrepreneur. In total, a little over 8,000 business owners participated in this television program. Based on the E-Scan, that was part of this program, the 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 that reveal important personal entrepreneurial competencies, 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
- Keeps an open mind
- 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 enterprising business owner puts his vision into practice.
Moreover, that’s why creativity is so important for an entrepreneur.
Read this wonderful example of a real entrepreneur to make this profile come to life even more: the inspirational story of Mr. Selfridge.
What if you don’t have an entrepreneurial personality?
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 owners.
The average score was 58.
So, the more critical issue is that they have to be enterprising enough for the business they run. The competencies they miss out need to be complemented one way or the other.
Thus, the better entrepreneurs know themselves, the bigger the chances of success. That is to say, at least as long as you can help them to learn how to cooperate with others. Can they work with different personality profiles to complement their weaker competencies?
Infusionsoft and Emergent Research conducted a study called: “Defining and Achieving Small Business Success.” To become successful, business owners need to overcome challenges. However more than a few decades ago. Also, because more and younger people start a business of their own. That’s why they increasingly make use of paid coaches. Read in this blog: benefits of business coaching what entrepreneurs say about their coach.
One of the main challenges small business owners need to improve are their management and leadership skills.
In other words, to help them set and achieve goals and work through difficult business problems and decisions, they need a coach.
Not every coach is good getting more clients. So, do you have trouble finding clients? Are you struggling to 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 based on science and proved to be a reliable entrepreneur assessment test. However, it is designed to help you grow business owners further. Hence, it is a different type of assessment, like no other. Moreover, it works well with student learning too. E-Scan gives you – in an instant – a detailed and accurate insight into the personal entrepreneurial competencies of your client.
In coaching, it helps to have that discussion about your clients themselves. As a result, your clients start reflecting on their behavior concerning the characteristics of an entrepreneur. Otherwise, this 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 do a lot of harm.
Request a Coach Demo
Would you like to see how E-Scan can help you to add extra professional value to your clients? Please request a Coach Demo.