How To Self-Assess As An Entrepreneur

5 Approaches To Assess Your Knowledge And Skills

This article has been contributed by Bella Williams. As an academic researcher & private tutor, Bella guides the new age professionals and students with their career. A graduate of Monash University, Bella organizes free coaching workshops and promotes free sharing of knowledge. You can also find her on LinkedIn.

Do you know how to self-assess as an entrepreneur? An Entrepreneur refers to a person who has a unique business idea and is willingly taking the risk of implementing it. An entrepreneur takes full ownership of the execution of his idea and both its success or failure.

How To Self-Assess As An Entrepreneur

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Often characterized as optimistic and idealistic, entrepreneurs are focused a lot on themselves. They strongly believe in their ideas and gradually convince others to believe in them. It is their initial passion, dedication, and hunger for their idea that drives their first venture.

Some entrepreneurs put relentless effort into carving a niche for themselves with a unique business idea. While there are entrepreneurs who become household names very effortlessly with a brilliant idea.

One might really wonder what makes the chances better for the later kind while the former struggles. With the repeated success they attain it is wise to count “Luck” out.

Why Self-Assessment Is Important Today

A long list of leadership abilities goes into the making but what makes the difference is their approach to success.

We are living in an era where dependency on Digital and Social media is unavoidable. This also is a contributing factor to having more and more entrepreneurs coming up in the block each day.

While it is a praiseworthy an impressive feat for the country, it can be a concern for entrepreneurs themselves. It has become very important to thrive by creating your own unique value.

The best way to do that is doing a thorough assessment on regular intervals.

Assessments help you and your co-workers understand you and your beliefs. Quantifying your performance is a brilliant way of going about it.

Self-Assess As An Entrepreneur Tools & Tests

There are numerous helpful tools and test on the web today to self-access yourself as an entrepreneur.

  1. The Myers-Briggs Type indicator This is a widely taken indicator that is based on Theory of Personality. This indicator helps you to see patterns in how you gather information’s and how you make your decisions. It also evaluates the way you interact with people and how you utilize your strong points to your benefit. This indicator will help you see your strengths and weaknesses so that you know better how to deal with it. It is an evaluative indicator which would give you an idea of your personality. It’s a great point, to begin with, but it is always advisable to take advise from others regarding the result. This way you can ensure you are not just taking on the dimension of your personality as an indicator.
  1. Prevue HR Systems – This indicator evaluates your interests and your learning abilities. It takes into consideration your personality type and looks into things that motivate you. Prevue HR Systems can be very helpful for new entrepreneurs to see how they would react to the stress of their new venture. It has helped big companies to make better hiring decisions in the past. It can be used strategically to get venture capitals. It becomes easier to convince investors if you can explain how you have evaluated your team in terms of their expertise.
  2. The Entrepreneur Equation – This is a New York Times bestselling books that talks about the importance of personality and other virtues that go into Entrepreneurship. It also has an online quiz that lets you compare your traits with other successful Entrepreneurs of the day. This gives you a thorough idea about your core strengths and the areas that need attention. The book helps you assess your personality, timing and other important things like your approach to an opportunity.
  3. Professional Dynametric ProgramsThis is a tool that is predominantly used by consultants to educate executives on leadership, communication styles, and hiring procedures. This tool tells them a lot about themselves and how they can work for their success. It helps them know the value of being their true self and how important it is as a factor in defining your success. It is always advisable not to depend on 1 sole tool for assessment or on self-assessment wither. It is a great idea to, however, combine the two and take advise from others in assessing the scores.
  1. The FourSight Thinking Profile – This is a very interesting tool that evaluates your problem-solving skills. It gives you an idea of how innovative and creative you are as an entrepreneur. Striving in the market with innovative ideas is an absolute green-signal for your audience. There are usually 4 stages of problem-solving: Clarify the Problem, look out for solutions, Work on the solution idea and implement the idea. Each one of us as a preference for a particular stage. Understanding your affinity to that stage will help you not to overdo it and give attention to other stages instead. This ability might not come naturally to you, so it is best to use to know your innate habits.

These assessments tools are available in the market to help you access yourself as entrepreneurs.

They give you insights on how you are performing. It is wise to use them to work on your weaknesses and feel good about your strengths. But at the same time remember not to feel demoralized by the results of a tool or a book.

Your venture as an entrepreneur is much more than that. Use it for your benefit but let it not define who you are.

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