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Doing business in good times and abundance of consumption is probably easier than doing business in times when every expenditure is carefully weighed up. It now comes down to creativity, perseverance and continuing to develop and invest. It is not for nothing that statements such as “Never waste a good crisis” by the American economist Milton Friedman are quoted in lesser times. Basically, the bottom line is that there are always opportunities. “What doesn’t kill you, makes you stronger”, is the thought.

Read more: crunchbase.com

Creative Destruction

Economist Schumpeter also described this process as ‘creative destruction’. A crisis leads to a natural upheaval of the strong and the weak. He argued that economic change revolves around innovation, entrepreneurial activity and market power. You have to keep innovating if you want to survive. And maybe that’s all right now. Inspiration and copying are close to each other and are being followed more quickly precisely by our open economy. 

It places high demands on today’s entrepreneur to create a market for himself. And if you don’t have that much fat on your bones anymore, you will really get to the core of your motivations for entrepreneurship. Your will and motivation to achieve your goal gives you the strength to persevere and still see opportunities again, even if it sometimes doesn’t seem to work. A reflection of the time, in the surveyed opinions of entrepreneurs, emerges in the recently published studies of the Chamber of Commerce and ING.

COEN results

You can find out how much confidence entrepreneurs have in the economy from the  Business Cycle Survey in the Netherlands  (COEN). There will always be bankruptcies; in good and bad times. For some, a crisis is a reason to start their own company, for others it is still a matter of time. But regardless of the economic weather, many entrepreneurs experience obstacles in carrying out their entrepreneurial activities. The main obstacle is a decrease in demand for products or. services, followed by financial constraints and getting financing

ING Entrepreneurs Index

The ING Entrepreneurial Index shows that entrepreneurs are more often moderately negative about the economy, but they still derive satisfaction from entrepreneurship. A striking fact about this last so-called emotional index was that the very smallest and large companies were most positive about it.

In addition, young entrepreneurs are more positive than the older generation of entrepreneurs about their confidence in commercial conditions. This is the other way around for the emotional index. Entrepreneurship gives the elderly more satisfaction than the young. Personally, I think this is quite important, because how do you get through difficult times if your daily activities are not satisfying?

Stronger entrepreneurship through a coach

I have often said: “Wanting is more important than being able to”. Your will provides the dream, the opportunity, the doing and the perseverance in your entrepreneurship. Especially in these times. If you feel that you have lost this for a while, a coach can help you. An entrepreneurial coach has expertise and reflects in such a way that you find your way (again), your entrepreneurial path. The regular figures for survival after five years do not lie. The effects of the combination of the E-Scan with a business coach have now been demonstrated by ITS and EIM. 

An increase of the chances to 89%. These entrepreneurs also experience sales growth, more market orientation and improved financial insight. We also want to help you increase your chances of entrepreneurship during this time. You can reach our coaches via. We are curious how your company is doing and what you want to achieve. Think about your entrepreneurship. Take the first step forward.

What is the sense and nonsense of an entrepreneurial test?

I remember well when I – already 18 years ago – wanted to start my own company. My friends laughed at me when I told them I wanted to launch an entrepreneurial test. You should know, it didn’t exist then. Nowhere in the world. At least not in the scientific literature. My friends asked me, “why do you need an entrepreneurial test if you know you want to start your own business?” They turned out to be wrong.

The nonsense of an entrepreneurial test

At the time, there were plenty of people who doubted the usefulness of an entrepreneurial test. And there are still people who do not see the point of it and openly doubt the value of an entrepreneurial test. “You take the test yourself and answer questions to which you actually already know the answer. So you are testing something you already know. Why would you take another entrepreneurial test then?” A good and valid question. Also has Prof. Dr. Arjan van de Born wondered. He literally writes in the summary of his thesis: “Our analyzes show that personality traits are hardly important for freelance success.” And then concludes: “The question is therefore whether simple psychological tests (for example on entrepreneurship) have added value.” That is a bit too short-sighted. However, I asked myself exactly the same question when I happened upon this subject 18 years ago. Below you can read my answer to that question.

The meaning of an entrepreneurial test

An entrepreneurial test is an instrument and not a definitive document with a short final verdict: Yes or No! At the time I was surprised why after 5 years about half of them have already stopped their business. Incidentally, that is still the case. But what is that about? What makes someone drop out (too) early? The answer must and lies in the entrepreneur himself. Research has shown which characteristics and qualities are associated with entrepreneurship. Furthermore, every entrepreneur has strong and weak entrepreneurial qualities. And they are reflected in the behavior of the entrepreneur. So also in the strategy that an entrepreneur chooses for his company. So it’s about the combination. This means that the entrepreneurial characteristics have an indirect effect on success. Scientific research has also shown this. A business test does make sense, but does not stand alone. It is precisely an instrument that you take with you in determining the strategy of your company in the rapidly changing market in which your company operates. It is precisely in this area that a business coach shows its added value.

Get the most out of an entrepreneurial test in 10 steps

  1. Do the E-Scan that suits you best
  2. View your results and read the full results for the first time
  3. Have 3 people provide feedback on your E-Scan, which can be done via the Entrepreneur Platform
  4. Discuss the results individually and ask them for a personal explanation: How do they see you?
  5. Read the full results carefully; especially the part how about you and how do you deal with it
  6. Now make the translation to your company (idea). Which qualities are very important to you
  7. Choose the 3 most important qualities and honestly determine whether you have enough of them
  8. Determine how you will use your strengths and how you will compensate for your weaknesses
  9. Process that in your Entrepreneur Platform, where you can keep track of your approach and development
  10. Do the E-Scan again a year later and discover where you have grown and where you haven’t yet.
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