The Entrepreneurial Appetite Test (EAT)

The Entrepreneurial Appetite Test is just that: we ask you questions about entrepreneurship to test your appetite. We won’t quiz your hobbies or travel desires and read into your intentions. We ask specifically about your mindset and show you what that means in the entrepreneurial world. This test won’t tell you whether you will succeed or fail; rather, as you answer the twenty questions, you will learn where to expand your vision and skills in order to succeed. You will see how hungry you are and learn how to fill that hunger. Nobody is the perfect entrepreneur, but our suggestions can let you know when to step on the gas and when you better hit the brakes.

Enter your name and email in the boxes below. As you take the test, you will get immediate feedback based on your answers. When you finish the EAT your feedback will be sent as a personal business bootstrapping handbook to the email address you provide. (Your email address is used only for this purpose.) This feedback was developed as a part of our book Bootstrap Business: A Step-by-Step Business Survival Guide and teaches practical bootstrapping principles to help you make your ideas succeed. This isn’t a game of right and wrong; it’s about learning who you are!

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Entrepreneur Appetite Test

 
 
Q.1 Entrepreneurship takes motivation. Which of the following is closest to your heart?
  Ans.
A.  I want the freedom to do things my way. I want to do some good and make something of value that matches my talents and interests. I want to do this on my own terms.
B.  The corporate world is too structured. I want more free time. I like the thought of being my own boss.
C.  I want to make more money. Setting my own salary is the first step toward greater wealth.
Q.2 Sit back and think about your current (or desired) employment situation. Which of the following most closely reflects your attitude about it?
  Ans.
A.  Taking a job means taking a risk. About the only guarantee in life is that I can take a hit and keep rolling.
B.  Locking down a job can be tough work. I like to hold on to it for a while.
C.  When I’ve got a job, I do everything I can to keep it. It’s hard finding something new!
Q.3 Which of the following is truest about your dream job?
  Ans.
A.  Being able to stay long every day. Sometimes, I don’t ever want to leave.
B.  The feeling of satisfaction from a few extra hours now and again. Those hours can make all the difference in getting a crucial project done.
C.  Clocking out at five and coming home, regardless of how things are at work.
Q.4 Which is closest to how you would respond if your paycheck didn’t come this month?
  Ans.
A.  “This might be quite the adventure. I’d better get to work so it doesn’t happen again.”
B.  “I’ll try not to let my nervousness show. It’s coming back next month, right?”
C.  “I can’t afford that. I think you just put me in a mild panic.”
Q.5 Which is closest to how your significant other would respond if your paycheck didn’t come this month?
  Ans.
A.  “Well . . . let’s look at the budget.”
B.  “This isn’t going to happen again, is it? They really ought to pay you what you’re worth.”
C.  “I don’t think that we can do this. What do we do? Where is the money going to come from? Are you going to get a new job?”
D.  I’m single. There isn’t anyone except for me to be concerned about bringing home a paycheck.
Q.6 Your responsibility involves a number of simultaneous, significant projects. What is the number that finally makes you buckle under?
  Ans.
A.  The very first one—or maybe the second or third.
B.  The fourth one or anything beyond. That’s just too heavy.
C.  Nobody has managed to count that high yet!
Q.7 How important is it that you be socially accepted by other people?
  Ans.
A.  I thrive on popularity, I perish with anything less.
B.  I’ll listen to what they have to say but I’m going to do what I have to do.
C.  It depends on the situation and the people. I do like being liked, but I don’t always mind taking a stand as long as it’s not too controversial.
Q.8 Off the top of your head, how close can you quote the amount of money is in your checking account?
  Ans.
A.  Within five dollars. Try me.
B.  I only look at that once a month. I try not to worry. There’s usually enough.
C.  Well, I wouldn’t go withdraw it all right now, but I can guess within a reasonable amount.
Q.9 Your last business idea came—
  Ans.
A.  Yesterday—or was it today? Hang on, I wrote it down . . .
B.  Well . . . you know how it is. I’ve got a few good ones that I’m sticking to.
C.  You can’t force inspiration like that. I’ll have one when I need it.
Q.10 What did you do with your idea (the one we talked about in question nine)?
  Ans.
A.  I’ll do something eventually.
B.  I wrote it down. I’ll look at it again in a little while.
C.  I’ve been thinking about it and testing its viability. I might bring it up with someone soon.
Q.11 How do you generally work as a team leader?
  Ans.
A.  Grudgingly. It’s easier to do things on my own than to keep explaining myself.
B.  Delegation is important, but I’m the one who is ultimately accountable.
C.  Good, I can put that project on somebody else’s shoulders. They can tell me if they need help.
Q.12 What has the biggest influence right before you make a crucial decision?
  Ans.
A.  My whims. Things always change but I’m always in tune.
B.  The well-laid plan.
C.  I take a “Gut Check” and go with my gut instinct.
Q.13 Be honest with yourself here: how do you deal with conflict?
  Ans.
A.  I can’t stand conflict. Call me a control freak, but I have to have it resolved right now.
B.  I’ll wait for an apology. If it doesn’t come, I was still in the right.
C.  If we need some stopgap measures, okay—but let’s cool off before talking this over all the way.
Q.14 If a new trend kicks up, what did you have to do with it?
  Ans.
A.  I set it. I always set the trend.
B.  I’m right on board! If it’s trendy, I’ll be there in a flash.
C.  I have my fingers in a couple of them. Maybe that’s non-committal, but some I start, some I follow.
Q.15 What’s the best way to jump over entrepreneurial hurdles?
  Ans.
A.  Team effort. It can be useful to talk with other bootstrappers about my ideas.
B.  I have supreme confidence in my idea. I can figure out all the answers. Besides, if I talk too much, somebody might steal it.
C.  Well, I’ll talk about anything I’ve got half a mind to, but deep down, I doubt that anybody else can do anything for my venture.
Q.16 You failed. What’s the next step?
  Ans.
A.  Try again, and try now. The clock doesn’t run backwards—maybe it will work this time.
B.  Move on to the next thing. I don’t have time to deal with dud ideas.
C.  I’ll abandon it if I have to, but not before I’ve made a few notes on how it went. If I can, I’ll take another shot.
Q.17 What do relaxation and meditation mean to you?
  Ans.
A.  These are necessary for keeping myself at peak performance.
B.  That’s a luxury that I will allow myself when I’m done with this project.
C.  That comes later—when I retire at 50 or 55, I’ll have plenty of time to rest.
Q.18 How much effort ought to be invested in traditions and company culture?
  Ans.
A.  None. There’s work to be done. When people clock out, they’ll have time to wind down.
B.  I won’t worry about it. Traditions and culture evolve as we work together.
C.  It’s my responsibility to create the culture and traditions for my team.
Q.19 We do have to ask you one symbolic question: what best approximates your thoughts about your last traffic ticket at the moment you were caught ?
  Ans.
A.  You know—I should have been smarter than to have done it in the first place. I apologized.
B.  I can’t believe I got caught. If the cops were catching real criminals, there wouldn’t be a problem. Getting caught was probably a fluke anyway.
C.  Mistakes happen. If I didn’t talk my way out of it last time, well, I might pull it off next time.
Q.20 There are a lot of businesses packed into our economy. Do you think you can find a business opportunity?
  Ans.
A.  Do you think that I can’t? Call me naďve, but opportunity is everywhere.
B.  There’s a few out there if you’re looking for them but you have to work yourself to the bone to make anything happen.
C.  I might be able to, but I don’t know who else can. There’s not much out there—if you’ve got something, hold on tight!
 

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