ATTRIBUTES AND MYTHS

OF
TECHNOLOGY
ENTREPERNEURS
Galing, Giray, & Sagayap
(6) ATTRIBUTES
OF GREAT Great entrepreneurs blend
ENTREPRENEURS vision with execution
They have an ability to find
backdoors.
They’re willing to work the long
hours.
They can either sell or build.
They can reduce complicated
data into something manageable
and actionable.
They are very effective people.
Great entrepreneurs blend
vision with execution
We tend to think of successful entrepreneurs
as big-picture people and visionaries. But the
best ones can blend their “vision” with the
ability to get things done as successful
entrepreneurs are highly goal oriented,
blending their big-picture strategy with a laser
focus on execution and results.
They have an ability to find
backdoors.
Good entrepreneurs tend to be skilled problem
solvers and analytical, but they also approach
problems in a creative fashion. They are not trying
to be eccentric or unconventional; they simply tend
to think a little bit differently and creatively. They
are not sages and mystics but resourceful and
creative folks, also they try different angles than
other people.
They’re willing to work the
long hours.
Facebook went from an idea in a dorm room to
a billion dollar company in a flash. The task of
building a successful business is a thankless
and grueling one. The hours are intense. The
rate of success is relatively low. It takes a long
time to generate momentum.
They can either sell or build
Good entrepreneurs tend to fall into one of two
buckets: those who sell stuff or those who can
build great products.
• Steve Jobs was good communicator, but his
skill lay in products.
• Bill Gates had technical expertise, he was
actually a sales and marketing specialist.
• Scott Cook ate Intuit is a product
entrepreneur.
• Donald Trump is a sales entrepreneur.
They can reduce complicated
data into something
manageable and actionable
Even extremely complex business problems
usually reduce down to three or four important
components. Good entrepreneurs are able to
identify the few key factors that are important
to a decision or a business.
They are very effective with
people.
Growing a business is a matter of getting
people to work together; the probability of
being able to build a business, without working
well with others, is very, very low. The truly
great entrepreneurs are very effective with
people, or else they would have not achieved
the same level of success.
10 Myths About
Entrepreneurs
Entrepreneurs don’ts have a
personal life.
Entrepreneurs take lots of risks.
Entrepreneurs are only
motivated by money.
Entrepreneurs raise money from
venture capitalists.
Entrepreneurs have great ideas.
Anyone can be an entrepreneur.
Entrepreneurs are job hoppers.
Entrepreneurs are young
Entrepreneurs don’t quit until
they succeed.
Entrepreneurship is genetic.
Entrepreneurs don’t
have a personal life
Lots of people think that entrepreneurs work
24 hours a day, 365 days a year. It is true that
entrepreneurship can take grueling hours and
commitment yet it is not true that they can’t
have a personal life. They are just good at
mastering their time management skills and do
multitasking to increase productivity. And they
don’t waste time on social media unless of
course, it’s business related. Therefore,
entrepreneurs who can master their time
management skills will have plenty off time for
a personal life.
Time Management Skills
Entrepreneurs take lots
of risks.
Entrepreneurs don’t put themselves in high-
risk situations all the time but they learn how
to take calculated risks. It’s all about balancing
the risk and reward. Entrepreneurs aren’t
gamblers. Gambling implies there’s luck
involved. But ultimately, they can’t rely on luck
to their business rather they limit their initial
risk to prevent such situation that will put their
company out of their business if it fails.
Multitasking
Calculated Risk
Entrepreneurs are
motivated by money
• Achieving a lifelong dream is the main
motivational for entrepreneurs.
• Financial stability is second on the list;
 Being financially stable means that
you’re comfortable and able to make end
meet.
 The amount of money you can have
affect how happy you are.
• Leaving a legacy is another motivational
factor for entrepreneurs.
• Entrepreneurs are also motivated by
freedom.
Money can affect how
happy you are
Entrepreneurs raise money
from venture capitalists

Venture capital money is on the list, but

personal loans, credit, friends, and family far
outweigh the venture capitalist funding.
Successful entrepreneur put up their own
money. Hewlett Packard is worth over 30 billion
dollars today. They started with less than 600
dollars.
Top Funding Sources
Well-known companies
Entrepreneurs have great
ideas
Creativity is the key to producing new ideas
and processes. Entrepreneurs who really
thrive and succeed are the ones who can use
their creativity over and over – the ones who
can pivot to scale the company or outlast a
competitor. But standing out from the crowd
takes a creative approach. However, some
entrepreneur take an existing idea and making
their business out of it, such as Uber was
founded in 2009 and Lyft launched in 2012.
Uber vs. Lyft
Anyone can be an
entrepreneur
Anyone can become an entrepreneurs. If you
have an idea for a small businesses, it can be
difficult to get off the ground, hatching a plan
and executing it from start to finish. But if you
are absolutely certain that entrepreneurship is
the career path with you, there are many
pieces of advice to keep in mind;
• Fixe tangible problems in the world
• Be driven to succeed
• Be willing to adapt and grow
• Hire innovative people
• Encourage creative thinking
Entrepreneurs are job
hoppers
Successful entrepreneurs worked for a larger
corporation for a number of years before they
started their own business. In every instance,
they used the corporate structure to learn
everything they could about the business they
intended to establish before they started their
own business. Entrepreneurs are not job
hoppers.
Entrepreneurs are young
Age has no limitations when it comes to
entrepreneurship. For example, the average age
of an entrepreneur in the United States is 40
years old. But the average age in the United
Kingdom is 47. Older individuals have
accomplished more in their life. They know what
it takes to be financially stable and successful.
Experience is an advantage. However,
entrepreneurship is on the rise for younger
generations.
Famous Entrepreneurs
Millennials
want to be
entrepreneurs
Entrepreneurs don’t quit
until they succeed.
Entrepreneurs knew that its not easy to start and
run their own company and accept failure as a
potential reality. If their business is going to fail,
they need to do whatever they can to minimize
the damage. Liquidate their company assets and
try not to lose their entire investment. The odds
of success are less than the odds of failure. So
to debunk the myth – yes, entrepreneurs have to
quit without succeeding. It’s the sad truth. With
that said, just because one business failed, it
doesn’t mean they can’t start another one.
Thereof, they learn from their failures and don’t
make the same mistakes twice.
Failure Rates of Startups
Success vs. Failure
Entrepreneurship is genetic
It’s not a trait that you can inherit from your
parents. Even if your entire family runs their own
business, it doesn’t mean that’s your destiny as
well. On the flip side, this means you can be an
entrepreneur even if your family doesn’t own a
business. However, there is nothing wrong with
wanting to work for your family’s business and
eventually take it over. But you’ll need to work
that much harder to be successful.
Why do family-owned
businesses by generation fail?
THANK YOU!