What Makes an Entrepreneur? ︎

John Bradberry︎

November 28, 2016 ︎�  

Agenda  

•  Why  Do  So  Many  Startups  Fail?      •  What  Prepares  a  Founder  for  Success?  •  11  Core  Characteris<cs  •  Your  ECCP  Results  –  “Peer  Clinic”  •  Class  Profile  Discussion  •  Going  Forward  –  GeGng  the  Most  Out  of  Your  Results  

Most  People  Dream  of  It  

     

   

 Surveys:    72  percent  of  working  adults  said  they  wanted  to  start  their  own  business  

       (Source:  Intuit)  

 

Reality  

Most  ventures  close  within    5  years  of  forma<on.      

 7  of  10  close  within  10  years.  

Reality  

6  of  10  people  who  become    self-­‐employed  go  back  to  work    

for  someone  else  within  10  years.  

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.  

Reality  

Two-­‐thirds  of  all  owner-­‐operated  businesses  earn  less  than  $10,000  in  annual  profits.  

Business  owners  report  longer    work  hours  and  more  stress,    fa<gue,  insomnia,  depression,    and  conflict  with  spouses.  

Reality  

WHY?  

An  ExploraEon  

•  55  hours  of  interviews  •  51  books  •  83  research  papers  •  500+  online  sites,  blogs,  magazines,  etc.  •  Filtered  through  20+  years  of  experience            and  observa<on  

A  Core  Issue  

+  

Entrepreneurial  Passion  

   

     

 

Founder  

 

 

Market    

   

 

Founder  

 

 

Market    

 

Math      

 

Founder  

 

 

Market    

 

Math    

ExecuEon    

 

Founder  

 

Market                OrientaEon  How  viable  is  your    market  opportunity?  

 

Math                      Story  

Does  your  economic    model  work?  

 

EffecEve      ExecuEon  Can  you  make    it  happen?  

Founder  Readiness  Are  you  bringing    

your  absolute  best?    

 

+    Staying  Power  

   

     

 

Founder  

 

 Purpose  /  Goals  

Knowledge  /  Exper<se    Personality  Rela<onships  Resources  

Founder  Readiness  

Founder  Readiness    

Purpose  /  Goals  Knowledge  /  Exper<se    

Personality  Rela<onships  Resources  

Personality

Ash  Khan,  omni-­‐potence  

Personality������

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Skill ���

Personality������

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Destiny ���

Entrepreneur  Core    CharacterisEcs  Profile  (ECCP)  

•  11  dimensions  of  personality  •  An  awareness  raising  tool  (vs.  a  “green-­‐light  red-­‐light”  test)  

•  Measures  tendencies/preferences  (vs.  skill)  •  No  single  “perfect”  entrepreneur  profile  

Eleven  Core  Characteris6cs  •  Business  Oriented  •  Inven<ve  •  Independent  •  Driven  •  Risk  Tolerant  •  Confident  •  Persuasive    •  Resilient  •  Reliable  •  People  Oriented  •  Principled  

Business Oriented

Inventive

           Independent

Driven

          Risk Tolerant

www.CCAL.org  

Confident

Entrepreneur.com  

Persuasive

           Resilient

www.earlytraumagrief.anu.edu.  

          Reliable

People Oriented

flashmobBarcelona.jpg  

Principled

•  see any qualities that could be too much of a good thing?

Icarus    QualiEes  

Icarus  Quali6es  •  Business  Oriented  •  Inven<ve  •  Independent  •  Driven  •  Risk  Tolerant  •  Confident  •  Persuasive    •  Resilient  •  Reliable  •  People  Oriented  •  Principled  

Founder  A  

Founder  B  

Founder  C  

Founder  D  

Peer  Clinic    

Based  on  my  ECCP  Results:    1)  What  are  my  key  strengths  as  a  potenEal  

entrepreneur?  

2)  Where  are  my  most  relevant  gaps?    

3)  What  insights/strategies  would  help  me  be  most  effecEve  in  an  entrepreneurial  role?  

 

49%  

81.30%  

60.10%  

73.80%  

84.30%  

69.70%  

89.80%  

83.70%  

80.40%  

83.90%  

92.20%  

0%   20%   40%   60%   80%   100%  

Principled  

People  Orientated  

Reliable  

Resilient  

Persuasive    

Confident  

Risk  Tolerant  

Driven  

Independent  

InvenEve  

Business  Oriented    

Venture  Capital  PorYolio  CEOs    (N  =  11)  

38%

58%

54%

53%

62%

45%

53%

68%

39%

47%

54%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Principled

Peopled Oriented

Reliable

Resilient

Persuasive

Confident

Risk Tolerant

Driven

Independent

Inventive

Business Oriented

Class  PercenEle  Means  (ECCP)  

47%

63%

50%

65%

71%

61%

69%

67%

67%

59%

71%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Principled

Peopled Oriented

Reliable

Resilient

Persuasive

Confident

Risk Tolerant

Driven

Independent

Inventive

Business Oriented

Class  #2  PercenEle  Means  (ECCP)  

THANK  YOU  

48%  

68.73%  

58.16%  

64.67%  

72.20%  

45.77%  

56.89%  

67.57%  

46.91%  

56.77%  

57.70%  

0%   20%   40%   60%   80%   100%  

Principled  

People  Oriented  

Reliable  

Resilient  

Persuasive    

Confident  

Risk  Tolerant  

Driven  

Independent  

InvenEve  

Business  Oriented  

B-­‐School  Cohort  -­‐-­‐  ECCP  Means  

38%  

56.00%  

54.00%  

53.00%  

62.00%  

45.00%  

53.00%  

68.00%  

39.00%  

47.00%  

54.00%  

0%   20%   40%   60%   80%   100%  

Principled  

People  Orientated  

Reliable  

Resilient  

Persuasive    

Confident  

Risk  Tolerant  

Driven  

Independent  

InvenEve  

Business  Oriented    

Class    Averages    N  =  48