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Founder Readiness
John Bradberry August 16, 2016
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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 ExploraMon
• 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
The Usual Suspects
Founder
Market
Founder
Market
Math
Founder
Market
Math
ExecuMon
Founder
Market OrientaMon How viable is your market opportunity?
Math Story
Does your economic model work?
EffecMve ExecuMon 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
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Entrepreneur Core CharacterisMcs 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 QualiMes
Founder A
Founder B
Founder C
Founder D
Peer Clinic: In Groups of 3
Based on my ECCP Results: 1) What are my key strengths as a potenMal
entrepreneur?
2) Where are my most relevant gaps?
3) What insights/strategies can help me be most effecMve in an entrepreneurial role?
49%
62%
58%
60%
61%
55%
54%
69%
53%
54%
64%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Principled
Peopled Oriented
Reliable
Resilient
Persuasive
Confident
Risk Tolerant
Driven
Independent
InvenMve
Business Oriented
Entrepreneurship Program Full Group Averages
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
InvenMve
Business Oriented
Venture Capital Porcolio CEOs (N = 11)
THANK YOU
