Money isn't the only inspiring factor for people who want to start their own businesses. It's also about finding a strong sense purpose and having the freedom to switch paths whenever it seems right to change direction.
Staying relevant in the new world of work
People have responded to the COVID-19 pandemic by creating businesses that provide solutions to new challenges. According to data collected by UpWork, 36% of the workforce in the U.S. did full-time contract and freelance work in 2020. Post-pandemic, as many as 60% of freelancers said no amount of money would convince them to take a traditional job. Responding to a 2019 getabstract survey, more than half of millennials (58%) and adult Gen Zers (52%), 35% of Gen Xers and 34% of baby boomers said success in their careers depends on updating their skills and knowledge frequently. The study noted that “engaging in continuous learning was most often associated with good feelings, with ‘fulfilled,’ ‘accomplished’ and ‘motivated’ the most cited emotions by all generations.”
What is the role of the entrepreneurial competencies quiz?
An entrepreneur is seen as "a person who sets up a business or businesses, taking on financial risks in the hope of profit." What does establishing a business or taking financial risks to make profits entail? Does an initiative to invent a new chemical to replace gasoline require entrepreneurship? Is the owner of the coffee shop round the corner, an entrepreneur? What makes an entrepreneur? To answer some of these questions and support the efforts of would-be entrepreneurs, Talent Transformation has developed a quiz to measure the thinking, behaviors, skills, and attitudes they will need in order to succeed.
The assessment evaluates each participant’s mindset to identify their strengths and weaknesses and offer them a roadmap for improvement. The results of this assessment can help would-be entrepreneurs realize which traits they need to develop or improve. Evaluating your competencies and addressing any barriers your results reveal will help you fulfil your dreams and succeed as an entrepreneur.
Recognizing competencies and sense of purpose
Just wanting to be an entrepreneur isn't enough. This role requires certain behavioral competencies, skills, and abilities. To help you determine is if entrepreneurship makes sense for you, we have developed a quiz with two sections — one to measure how your competencies match those required and another to tease out your sense of purpose your reason for starting a business.
The Entrepreneurial Competencies Quiz produces a personalized guidance report to help you better understand your sense of purpose, skills, competencies, and behaviors. Armed with this information, you can start pursuing learning opportunities to help you progress toward your goals.
What is the basis for this assessment?
This assessment measures behavioral traits, cognition and skills as defined by the well-established entrepreneurial competency frameworks provided by the European Union (EU), the Organization for Economic Co-operation and Development (OECD, the US Department of Labor (DOL). One of the most comprehensive frameworks worth recognizing is EntreComp, the European Entrepreneurship Competence Framework.
Why should I take this assessment?
Many people want to be entrepreneurs but many struggle to develop the ideas and motivation they will need to success in this role. If you wish to be an entrepreneur, it’s essential to determine whether you have entrepreneurial competencies. The results of this assessment will help you gauge your current competencies and nurture those you need to develop further.
When should I take it?
Whenever you feel you need to decide about starting a new venture! Given the challenges of entrepreneurship, you may need to identify gaps and prepare for your learning journey.