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Lesson 6 of 6Enterprising People and Entrepreneurs
Unit 1 · Lesson 6 of 6

Assessing Your Entrepreneurial Potential

You can measure your entrepreneurial potential by describing your past enterprising experiences, scoring a self-assessment inventory, researching entrepreneurial careers, interviewing an entrepreneur and turning the results into a personal development plan.

5 min read9 practice questionsInteractiveAsk AI about this →

Key things to remember

  1. 1STAR method: Situation, Task, Action, Result, then name the skills shown.
  2. 2A self-assessment inventory rates statements (for example 1 to 5) and adds them to measure where you stand.
  3. 3Use your lowest-scoring areas to choose development goals.
  4. 4Ways to measure and develop interest: internet research, a mentor, interviewing an entrepreneur, job shadowing, a small venture, clubs and competitions.
  5. 5SMART goals are specific, measurable, achievable, relevant and time-bound.

Before an athlete trains for a season, a coach tests where they are strong and where they need work. Planning a venture works the same way. You already have enterprising experiences, even if you have never called them that: babysitting, running a club table, organizing a group project or selling at a garage sale. This lesson shows you how to describe those experiences, score yourself honestly on the characteristics and skills entrepreneurs need, explore entrepreneurial careers and build a plan to grow. The goal is not to label yourself as "an entrepreneur" or "not an entrepreneur", but to find your starting point.

Describing Your Enterprising Experiences

A simple way to describe any experience is the STAR method: Situation (where and when), Task (what needed to be done), Action (what you did) and Result (what happened, with numbers if possible). Then name the skills or characteristics the experience shows. This is exactly how strong job and scholarship applications are written, so practising it now pays off later.

STAR partExample: the Grade 10 bake sale
SituationThe Grade 10 class needed money for a field trip, and the deadline was three weeks away.
TaskI volunteered to organize a bake sale at lunch.
ActionI recruited 8 bakers, made posters, set prices and kept a sales sheet with a classmate.
ResultWe sold out in two lunch periods and raised $310 for the trip.
Skills shownInitiative, planning, promotion, money management, teamwork
Describing a past enterprising experience with the STAR method.

Scoring a Self-Assessment Inventory

A self-assessment inventory is a list of statements you rate yourself on, to measure where you stand. The sample inventory below has 10 statements: five on characteristics and five on skills. Rate each from 1 (not like me at all) to 5 (very much like me), then add the scores. Be honest. An inflated score feels good but gives you a useless plan. Low scores are not failures; they show you where to grow.

#StatementArea
1I start projects without waiting to be asked.Initiative
2I keep going when something I try does not work the first time.Persistence
3I am comfortable taking a risk after I have thought it through.Calculated risk-taking
4I often think of new or better ways to do things.Creativity
5I am confident presenting my ideas to people I do not know.Self-confidence
6I can reach a fair deal when people want different things.Negotiating
7I can explain why someone would benefit from a product or idea.Selling
8I keep track of the money I earn and spend.Money management
9I get along well with many kinds of people.Interpersonal
10I set goals and plan the steps to reach them.Planning
Sample inventory. Statements 1 to 5 measure characteristics; 6 to 10 measure skills.
Total score (out of 50)What it suggests
40 to 50Strong entrepreneurial profile; focus on your lowest one or two areas
30 to 39Developing well; pick two or three areas to build this year
20 to 29Emerging; small ventures and a mentor will build skills fast
10 to 19Just starting; begin with low-risk enterprising roles at school
The bands are a guide for planning, not a prediction of success.
Loading interactive…
Score three enterprising options you could try this year, such as tutoring, selling yearbook ads or running a snow-shovelling service, against weighted criteria like fit with your skills, time needed and what you would learn, and see which ranks highest.

Measuring and Developing Your Interest

  • Internet research: read profiles of entrepreneurs, small-business websites and youth entrepreneurship programs to see what the work actually involves.
  • Finding a mentor: a mentor is an experienced person who gives advice and guidance over time. Ask a family friend, a local business owner or someone from a small-business enterprise centre.
  • Interviewing an entrepreneur: a short, prepared interview gives you first-hand information no website can.
  • Job shadowing or part-time work: spending time in a small business shows the day-to-day reality.
  • Trying a small venture: running a summer service or a school-store shift is the most direct test of interest.
  • Joining a club or competition: business clubs and pitch competitions let you practise with support.
Interview questionWhy ask it
How did you get the idea for your business?Shows how opportunities are spotted
What did you do before starting it?Shows what experience helped
How did you get the money to start?Shows real sources of start-up capital
What was your biggest challenge in the first year, and how did you handle it?Shows persistence and problem solving
Which skills do you use most every day?Shows which skills matter in practice
What does a typical week look like?Shows the real workload
What would you do differently if you started again?Shows lessons you can learn without paying for them
What advice would you give a student who wants to start a venture?Gives direct, practical guidance
Sample questions for interviewing an entrepreneur. Ask permission before recording and thank them afterwards.

Building a Personal Development Plan

My entrepreneurial growth plan1Current strengthsWhat am I already good at? e.g. creative, good with people, reliable withmoney.2Skills to buildWhich mindset elements or skills need work? e.g. public speaking, budgeting,managing risk.3ActionsHow will I build them? Take a short course, find a mentor, volunteer at aschool event, run a small venture such as selling art prints.4TimelineWhen will I do each one? Sept–Oct: online budgeting course. Nov: meet amentor. Dec: volunteer. Jan–Mar: run the venture.5Check-inEvery month: What went well? What got in the way? What will I change? Thenupdate the plan.update and repeat
Fig 1A personal growth plan: list strengths, choose skills to build, plan actions, set a timeline and check in regularly.

A personal development plan turns your self-assessment into action. Start from your two or three lowest-scoring areas. For each one, write a specific goal, one or two actions, the resources or people who can help, and a deadline. Then check in every month and update the plan. Goals work best when they are SMART: specific, measurable, achievable, relevant and time-bound. "Get better at selling" is vague. "Sell five yearbook ads by November 30" is SMART.

VideoUse the five SMART tests in the video to check each goal in your own personal development plan.Watch on YouTube

Worked examples

Reveal one step at a time and try to beat it to the next line.

Example 1
Priya scores the sample inventory: initiative 4, persistence 5, calculated risk-taking 2, creativity 4, self-confidence 3, negotiating 2, selling 3, money management 4, interpersonal 5, planning 4. Find her characteristics subtotal, skills subtotal, total, band and two areas to develop.
Example 2
Write a development-plan entry for Priya's lowest skill, negotiating.
Example 3
Describe this experience with the STAR method and name the skills it shows: last winter, Omar noticed elderly neighbours struggling with snow, offered to shovel five driveways for $15 each per storm, kept a schedule on his phone, and earned $600 over the season.

Where marks get lost

  • Inflating self-assessment scores. A dishonest score produces a plan that targets the wrong areas.
  • Treating a low score as proof you cannot be an entrepreneur. The inventory shows a starting point; skills can be learned.
  • Describing an experience without a result. The R in STAR, ideally with a number, is what makes the experience convincing.
  • Writing vague development goals such as "be more confident". Make goals specific, measurable and time-bound.
  • Asking an entrepreneur only yes-or-no questions. Open questions such as "How did you handle your biggest challenge?" get useful answers.

Flashcards 7

STAR method
Self-assessment inventory
Mentor
Personal development plan
+ 3 more

Practice

1
Marcus rates the 10 inventory statements as 3, 4, 2, 5, 3, 4, 3, 2, 4 and 5. What is his total score out of 50?
2
Using Marcus's ratings (3, 4, 2, 5, 3 for statements 1 to 5; 4, 3, 2, 4, 5 for statements 6 to 10), what is his skills subtotal out of 25?
3
Put the parts of the STAR method in order.
  1. 1Task
  2. 2Result
  3. 3Action
  4. 4Situation
4
Which goal is written in SMART form?
5
After scoring the inventory, which areas should you target first in your development plan?
6
What do we call an experienced person who gives you advice and guidance over time?
7
Which interview question will give you the most useful information from an entrepreneur?
8
Match each method of exploring entrepreneurship to what it gives you.
Internet research
Interviewing an entrepreneur
Finding a mentor
Running a small venture
9
A student scores 22 out of 50 on the inventory. What is the best interpretation?

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