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HIGH GROWTH ENTREPRENEURSHIP,[object Object],Becoming an Entrepreneur,[object Object]
The short answer….,[object Object],[object Object]
It’s not about characteristics and behaviours; it’s about the balance of behaviours. So learn how to understand and modify your behaviours.,[object Object]
Entrepreneurs are, in this context…,[object Object],… those who innovate and carry risk in building a new business,[object Object],So… I’m not talking about,[object Object],Intrapreneurs (so-called corporate entrepreneurs who don’t carry the risk themselves),[object Object],Small-business owners (who don’t innovate much),[object Object],Franchisees (who don’t innovate much),[object Object],…though they are included in many definitions of ‘entrepreneur’,[object Object]
And they do it because…,[object Object],They want to control their own destiny,[object Object],They can build something great/cool/fun,[object Object],They consider ‘having a job’ to be boring or unchallenging,[object Object],And often ..,[object Object],The world of ‘jobs’ is just too slow-moving for them.  Entrepreneurs set their own pace, and it’s usually fast!,[object Object]
Nature/nurture debate,[object Object],Entrepreneurs are both born and made,[object Object],You have to have a basic personality receptive to the experiences which make an entrepreneur.  But that filter still allows much of the population through.,[object Object],Our experiences are a bigger factor, and determine which of us will actually be able to embrace the mindset of an entrepreneur,[object Object]
Comfortable people don’t make good entrepreneurs,[object Object],Correlation between unmet needs and strength of entrepreneurial profile?,[object Object],When people are comfortable and self-satisfied: ,[object Object],they lose the need to innovate in the demanding way required of entrepreneurs,[object Object],they lose the excessive drive which powers an entrepreneur’s achievement,[object Object]
Three common motivators are:,[object Object],The creative desire to build something great (legacy),[object Object],The desire to make the world a better place (social conscience),[object Object],The desire to ‘prove yourself’ (challenge),[object Object],The desire to ‘prove yourself’ is particularly common because entrepreneurs judge everyone, including themselves, by what they achieve…. Results are everything!,[object Object]
Sometimes the unmet needs have deep roots…,[object Object]
Characteristics and Behaviours,[object Object],Passion,[object Object],Drive,[object Object],Self-belief,[object Object],Persistence,[object Object],Opportunism,[object Object],Vision,[object Object],Optimism,[object Object],Resilience,[object Object],Resource gatherer,[object Object],Innovator,[object Object],Deal-maker,[object Object],Seller,[object Object],Goal-seeker,[object Object],Communicator,[object Object],…so that’s all you need!!,[object Object]
Strengths and weaknesses are often finely balanced:,[object Object],p.1,[object Object],Stubbornness in clinging to a path regardless of conflicting views,[object Object],Persistence in chasing a vision,[object Object],Inability to accept best practice when it conflicts with the entrepreneur’s views,[object Object],Ability to see beyond conventional wisdom,[object Object],Opportunism; the ability to see and act on new opportunities as they emerge,[object Object],Diluting effectiveness by trying to follow too many opportunities at once,[object Object]
Strengths and weaknesses are often finely balanced:,[object Object],p.2,[object Object],Inability to manage reluctance by potential investors to accept the same level of risk,[object Object],High tolerance of risk,[object Object],Lack of appreciation of the limits of the entrepreneur’s expertise (not knowing when to rely on other experts),[object Object],Deep expertise in some aspects of building a business ,[object Object],High internal motivation,[object Object],Unrealistic expectation that others will be equally internally motivated,[object Object]
Strengths and weaknesses are often finely balanced:,[object Object],p.3,[object Object],Unwillingness to delegate when the business grows large enough to have specialist staff,[object Object],Willingness to take responsibility,[object Object],Unwillingness to give up control (particularly when the company has grown beyond the entrepreneur’s skills to manage it),[object Object],The ability, and willingness, to control the whole business during initial start-up,[object Object],Clarity of thinking; a clear view of the tasks which must be completed to build the business,[object Object],Inflexibility; the inability to recognize/accept a new idea which does not fit with the entrepreneur’s model of what is needed,[object Object]
Strengths and weaknesses are often finely balanced:,[object Object],p.4,[object Object],Inability to find time to learn and adapt during the high-pressure start-up phase of building a business (hence, many entrepreneurs learn through failure),[object Object],A high acceptance of the need for learning and adapting in building a business,[object Object],The inability to recognize that the market may not be ready for fast innovation (particularly an issue for entrepreneurs with a technology background),[object Object],The ability to recognize innovative concepts and technologies,[object Object]
The entrepreneur is likely to be both:,[object Object],[object Object]
The greatest liability of the start-up,[object Object]
The reflective learning process,[object Object],Work on the  project/company,[object Object],Listen to the advice you’re getting from mentors/boards/advisors ,[object Object],Listen to feedback from customers and staff,[object Object],Balance that advice against what you know about yourself,[object Object],Repeat the process,[object Object],Change what you’re doing where appropriate,[object Object]
Reflective learning is difficult for entrepreneurs because…,[object Object],Entrepreneurs are externally focused (it’s about what I do rather than who I am). They don’t tend to ask for personal help (it’s about task accomplishment, not personal development),[object Object],It’s hard to practise reflective learning when you’re under stress (and company building is stressful),[object Object],But the best time to learn is while you’re actually working on a company… if you are open to learning. ,[object Object]
Understand yourself, and you can still learn while you’re under pressure,[object Object]
In summary,[object Object],Can entrepreneurship be learned, or are you born to it?,[object Object],There are some ‘natural’ elements, but entrepreneurship can be learned if you can understand your strengths and weaknesses,[object Object],What strengths and weaknesses are typical in entrepreneurs?,[object Object],The strengths and weaknesses are often the same behaviours being displayed appropriately and inappropriately,[object Object],If entrepreneurship can be learned, how can you become an entrepreneur?,[object Object],Understand your own strengths and weaknesses, then learn by doing and reflecting.  Building companies is the only way to learn to be an entrepreneur,[object Object]
Want to learn more about entrepreneurship?,[object Object],- read the free chapters from my book,[object Object],- take the light-hearted “Idiot’s Survey”,[object Object],	- subscribe to my blog,[object Object],Find this information at:www.becominganentrepreneur.bizwww.norman-evans.com,[object Object]

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Entrepreneurship: becoming an entrepreneur

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Notes de l'éditeur

  1. Bill and Ben… both creative and intelligent. Both potentially entrepreneurial. Ben constrained by fear of failure.
  2. Street kids have similar profiles to entrepreneurs… resource gatherers