The document provides an introduction to entrepreneurs, describing typical entrepreneur traits like having a vision and passion to implement ideas. It discusses different types of entrepreneurs and their motivations, as well as traits of successful entrepreneurs like tenacity and connections. Resources for entrepreneurs are also presented, along with information on working with startups.

2. Introduction to Entrepreneurs
December 2011

3. What you will learn today
Typical Entrepreneur Persona
Entrepreneur Marketplace
What Do Entrepreneurs Care About?
Working with Startups

5. Who is an entrepreneur?
• An entrepreneur is someone that has a vision
of what the customer and the market need.
• The entrepreneur doesn't take a NO as an
option. The entrepreneur isn't just a dreamer.
•The entrepreneur implements this dream in
his/her enterprise sooner or later, no matter
where and how. Technology may be enabler or
facilitator to implement the vision.

6. The 5 types of entrepreneurs
1. Home-run Sluggers: want to change the world in a big and
obvious way. Sluggers would rather make a single business their
life’s work.
2. On-base Hitter: entrepreneurs are content to achieve success in
bite-sized bits on a regular basis, rather than all in one flourish.
Each has been a success, though none has been a bulls eye.
3. Fact Finders: entrepreneurs who seek details before making
decisions. Each answer to a fact finder’s question triggers a new
set of questions.
4. Follow-Through: entrepreneurs love systems think in a linear
fashion, where Step 1 leads to Step 2 and so on. Their companies
tend to operate by methodology.
5. Implementers: live in the physical world and enjoy building and
fixing things. They are innovative by nature, and always looking to
build the proverbial better mousetrap.

7. 5 successful entrepreneur traits
from Steven Bertoni
•Live in your Passion -- To achieve your goal, you need something
that will drive you forward every day.
•Feel your Guts -- There isn’t always time to conduct market research.
As Steve Jobs said, “People couldn't know what they would like when
they had never seen it before.“
•Sleep Less than your team-- As an entrepreneur, be prepared to
handle anything, anytime, anywhere.
•Keep your Connections -- In the world of start-ups and
entrepreneurship, connections are everything. Keep all the doors open,
no matter what.
•Understand Tenacity -- Most entrepreneurs fail multiple times before
they become successful. Accepting failure is one of the smartest
decisions you can make as an entrepreneur.

8. True or False game time
True or False: The average and median age of company
founders when they started their current companies was 40.
True or False: More than 70 percent of entrepreneurs have
a desire to build wealth as an important motivation in
becoming an entrepreneur and building a company.
True or False: The majority of entrepreneurs never complete
a college education.

9. 14 quick and fun facts
1. The average and median age of company founders when
they started their current companies was 40.
2. 95% of respondents themselves had earned bachelor’s
degrees, and 47% had more advanced degrees.
3. Less than 1% came from extremely rich or extremely poor
backgrounds.
4. 15.2% of founders had a sibling that previously started a
business.

10. 14 quick and fun facts
5. 70% of respondents indicated they were married when they
launched their first business. An additional 5.2% were divorced,
separated, or widowed.
6. 59.7% of respondents indicated they had at least one child when
they launched their first business, and 43.5% had two or more
children.
7. The majority of the entrepreneurs in the sample were serial
entrepreneurs. The average number of businesses launched by
respondents was approximately 2.3.
8. 74.8% indicated desire to build wealth as an important motivation
in becoming an entrepreneur.

11. 14 quick and fun facts
9. Only 4.5% said the inability to find traditional employment was an
important factor in starting a business.
10. Only 11% of the first-time entrepreneurs received venture capital,
and 9% received private/angel financing. Of the overall sample, 68%
considered availability of financing/capital as important. Of the
entrepreneurs who had raised venture capital for their most recent
businesses, 96% considered financing important.
11. Entrepreneurship doesn’t always run in the family. More than half
(51.9%) of respondents were the first in their families to launch a
business.

12. 14 quick and fun facts
12. The majority of respondents (75.4%) had worked as employees
at other companies for more than six years before launching their
own companies.
13. 86% of Ivy-League graduates ranked university education as
important, as compared with 70% of the overall sample.
14. 98% of respondents named lack of willingness or ability to take
risks as the biggest barrier to entrepreneurial success.

13. Entrepreneur lifecycle
Start a childhood business / learn skill early
Go to college / skip college to develop business
Create a brilliant idea
Start a company / bootstrap or angel funded
Build product / launch product
Get more funding
Expand operations
Get more funding
Become profitable
Sell business
Start another business

14. What’s the end game?
IPO?
Purchase?
Private?

15. Representing startups: what’s
good to know
• One person does 2-3 or more jobs or “wears
different hats”
• Speed is crucial – you have to work fast
• Stay focused on the goals, even if the target
is moving
• Things change on a dime
• Things are done on the fly – planning and
executing go hand in hand
• Timing is in bursts and not steady betty
• PR value must extend across the
organization

16. How Metis works with our
entrepreneurs
1. We understand the risks and rewards that our entrepreneurs are
working with day to day, and know the big picture.
2. We are willing to be more liberal with assigned duties and
scheduling, as tasks are never carved in stone with startups.
3. We assert our opinions and insights.
4. We know more about our entrepreneurs and their companies than
just the standard PR aspects, we are an extended arm on their
marketing teams.
5. We appreciate having the in and out aspects of our entrepreneur’s
business.

17. Entrepreneur resources
Quora – http://www.quora.com
LinkedIn – http://www.linkedin.com
Startup Nation – http://www.startupnation.com
Entrepreneur.com - http://econnect.entrepreneur.com/
Partner Up - http://www.partnerup.com/default.aspx
CoFoundr – http://cofoundr.com/
Young Entrepreneur - http://www.youngentrepreneur.com/

18. Entrepreneur resources
Startup Genome - http://blog.startupcompass.co/

19. Local entrepreneur resources
Greenhorn Connect - http://www.greenhornconnect.com/
http://massinnovationnights.com/
Don Dodge summary -
http://dondodge.typepad.com/the_next_big_thing/
2008/04/boston-startup.html