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The
reality of what it takes to be an entrepreneur (or a rock and roll star in a popular
band) is often quite different than the romantic notion that exists in the public
perception.
To this traditional response, I would add five additional characteristics and one
core value.
Characteristic of a Replicable mindset. There are some pursuits that can
legitimately last a lifetime. However, such lifetime opportunities are rare. The
world is full of what are popularly described as one-hit-wonders thus a
critical criteria begs the question, did you just get lucky, or do you truly have the
skills, talents, and characteristics that allow you the ability to repeat the
entrepreneurial process not just once, but a second, third, and successive
times. An entrepreneur has a replicable mindset that allows the enterprise
creation process to be replicated time after time.
Characteristic of Sustainability of the resultant enterprise. This new enterprise
that is created by an entrepreneur must also be sustainable. That is the
enterprise must eventually develop to a point where it can be sustained without
the original founder. If the enterprise requires the continued presence of the
founder, the founder simply created a job. This is a traditional cycle of the
various stages of development that a corporate enterprise goes through; and
each stage typically needs a different type of management and leadership
thus to grow to the next stage often will require new management and the
2.
Capabilities, and
3.
Behaviors
2.
3.
4.
5.
6.
Believe in themselves.
7.
8.
Are optimistic.
9.
2.
3.
Can hire A Players (which often means hiring people who are better at
individual tasks than they are).
4.
5.
Can lead.
6.
7.
8.
Stanford University conducted a research project where they gave 4 (four) year
old children marsh mellows and told them that if they waited 10 minutes before
eating them, that they could have a second one. Some children ate the marsh
mellows, some children waited, and some children pseudo ate their marsh
mellows by licking them. Thirty years, later, they followed up this study to
evaluate how these children performed in life. Those children that waited the 10
minutes statistically had happier marriages, higher paying jobs, had progressed
further professionally, and also had the highest percentages of entrepreneurial
activities. Entrepreneurs typically are not looking for the short-term financial
gratification or rewards of material possessions, but rather look forward with a
long term view building, growth, and development and the emotional and
Action oriented
2.
3.
4.
5.
Incredibly persistent.