UNC Kenan-Flagler Presentation -- The Psychology of Entrepreneurship
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Slides from a presentation on October 7 to students participating in UNC's GLOBE program -- an international business education program bringing together students from the U.S., Denmark, and Hong Kong
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UNC Kenan-Flagler Presentation -- The Psychology of Entrepreneurship
- 1. The Psychology of Entrepreneurship John Bradberry GLOBE Program UNC – Kenan Flagler Business School October 7, 2013
- 2. Flow • • • • Psychology of Entrepreneurship 11 Core Characteristics Assessment Feedback and Discussion Integrate Insights
- 3. Most People Want to Do It In a 2007 survey by Intuit: 72 percent of working adults said they wanted to start their own business
- 4. Reality Most ventures close within 5 years of formation. 7 of 10 close within 10 years.
- 5. Reality The typical business owner will earn 35% less over a 10-year period than if he or she worked for someone else during the same period.
- 6. Reality 6 of 10 people who become self-employed go back to work for someone else within 10 years.
- 7. Reality Business owners report longer work hours and more stress, fatigue, insomnia, depression, and conflict with spouses.
- 8. WHY?
- 9. An Exploration • • • • • 55 hours of interviews 51 books 83 research papers 500+ online sites, blogs, magazines, etc. Filtered through personal experience and observation
- 10. A Core Issue +
- 13. Ideas
- 14. Innovation
- 15. Entrepreneurship
- 16. Founder
- 17. Founder Market
- 28. + Staying Power
- 29. Founder Readiness Purpose / Goals Skills / Expertise Personality Relationships Resources
- 30. Founder Readiness Purpose / Goals Skills / Expertise Personality Relationships Resources
- 32. Entrepreneur Core Characteristics Profile (ECCP) • 11 dimensions of personality • An awareness raising tool • Revisions underway -- Your feedback appreciated
- 33. Keep in Mind… • Not predictive of success as an entrepreneur • No single “best” entrepreneur profile • Not measuring skill, but rather tendency/preference. • Scores are relative, not absolute
- 34. Eleven Core Characteristics • • • • • • • • • • • Commercial Orientation Conceptual Orientation Independence Need for Achievement Risk Tolerance Confidence Persuasive Ability Resilience Reliability People Orientation Integrity
- 37. Independence
- 43. Reliability
- 45. Integrity
- 46. Icarus Qualities • • • • • • • • • • • Commercial Orientation Conceptual Orientation Independence Need for Achievement Risk Tolerance Confidence Persuasive Ability Resilience Reliability People Orientation Integrity
- 47. FOUNDER A
- 48. FOUNDER B
- 49. FOUNDER C
- 50. FOUNDER D
- 51. FOUNDER E
- 52. Individually (10 min.) Review and absorb your report: • What rings true? • What is most surprising? • What questions does it raise?
- 54. In Pairs (15 min.) Discuss your feedback: • What 1-2 insights might apply to my founder or team role? • Key questions going forward?
Notes de l'éditeur
- So if the purpose of the test is to measure traits or characteristics associated with entrepreneurship – why would I say it’s not predictive? Not enough data yet, but that’s not the real reasonNo single entrepreneurial profile – too many variables… It’s about Awareness… and Fit… (tell a story here… Mark Williams…. )