In order to complete my personal assessment, I must:
Analyze my personality, past experiences, desires, strengths, weaknesses, opportunities and threats to accurately assess my ability to succeed as an entrepreneur;
Select the types of endeavors that I can easily embrace, and research the market and opportunity for success in these ventures based upon customer target markets, technologies, and industries that I think would be an appropriate and realistic fit for me;
Identify the team members and talent I will require in order to succeed.
Evaluate my own talents and deficiencies, my threshold for assuming risk, my ability to finance the endeavor, and the passion and determination I will require for success.
Key Personality Traits of Entrepreneurial Success:
While many self driven entrepreneurs are born with energy and desire of creation, I strongly believe that having an entrepreneurial spirit in any business endeavor requires several key personality traits on the part of the leader including:
• Opportunity obsession
• Commitment and determination
• A desire to lead
• Risk tolerance
• Strong organizational skills
• Honesty and integrity
In also believe that in order for a business to succeed key leadership qualities required are:
• An ability to see beyond the obvious
• Loyalty to my clients and team
• Surrounding myself with the talent I lack
These traits can only be acquired, however through honest and realistic self-evaluation. It is for this reason that an entrepreneur must identify appropriate talent, and also be willing to develop a strong and dedicated management team.
In obtaining few years of my”on the job experience“I acquired several professional traits that I think would make me a powerhouse in my field and not only make me asset to my venture, but also a significant contributor to the team I would potentially develop and bring together.
An evaluation of my own strengths is as follows:
1. Communication – I have the ability to communicate with a variety of people, including senior management, and demonstrate effective interpersonal skills. I have received feedback through numerous letters of commendation about my ability to provide clear and accurate information verbally and in writing. 2. Achievement Focus – I have continued to display a commitment to improving results and identifying opportunities for improvement. 3. Analysis and Decision-Making – I have a highly developed ability to critically analyze complex information and arrive at effective decisions. 4. Self-Management – I have always managed my workload effectively and am always able to meet project commitments. 5. Organization – I have strong organizational skills and have always shown an attention to detail. 6. Finance, Accounting and Technology – I have extensive and highly developed experience in finance, accounting, and technology. 7. Passion, Risk and Determination – I am able to calculate the cost of starting the business, seek an optimal capital structure, secure the funding, and ensure the ability of the business to make money.
So, while the above characteristics will certainly help me to succeed, I also have weaknesses, which will require me to develop and surround myself with a strong, loyal and dependable management team. I view this weakness particularly in the area of sales and marketing. While I am able to analyze and create effective strategic plans and goals, I am uncomfortable in the role of a salesperson. Therefore, a key member of my team would be a Sales Director, who would also be able to train other key sales staff. I would also want this person to be creative, rather than analytical, and have the ability to generate new and innovative ideas that will help position the company for success. This individual...
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