Ready Fire Aim - Latest Comments in What Makes a Successful Entrepreneur?

Re: What Makes a Successful Entrepreneur?

tradeyourasset — Fri, 26 Jun 2009 09:57:23 -0000

Nice informations. What makes an entrepreneur is a complex question. I think it includes its environment where he/she was raised, family situations, just like you stated, his/her personality. Every entrepreneur has individuals skills, strength, weaknesses and different personality traits. It's up to them how they mold it. Don't panic if you're not fit to it.

TradeYourAsset
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Re: What Makes a Successful Entrepreneur?

Chris McCann — Tue, 19 May 2009 05:28:26 -0000

Interesting perspective.. I also posted up an article on what makes entrepreneurs, entrepreneurial http://entrepreneurialactivism.com/2009/05/19/w... check it out

Re: What Makes a Successful Entrepreneur?

Jeff Chavez — Tue, 07 Oct 2008 15:15:15 -0000

Thanks for posting this great article. I have shared it with my readers on my blog: http://entrepreneur.northstarthinktank.com/busi...

Thanks again, and keep up the good work!

Re: What Makes a Successful Entrepreneur?

Bill Dueease — Fri, 26 Jan 2007 10:22:11 -0000

Bill,

Your article about what makes a successful entrepreneur is insightful. Virtually all of the successful entrepreneurs I have met have the exhibited the three bullet points you outlined. Some stronger than others. Thus, I disagree with the post by Noric Dilanchian that bullet points 1 and 3 do not apply. In fact, I feel that the concept of corporate entrepreneurship is a huge contradiction.

I believe that the rules of the game for success of an entrepreneur are clear and distinct and are quite the opposite of what it takes to succeed in the corporate arena. Thus, you can only play by the business owner rules of success or the bureaucracy rules but not both at the same time. The rules of success for bureaucracy and business ownership are as different as night and day. It would be like playing the game of American football and tennis at the same time. Not likely. Calling someone a corporate entrepreneur is like calling someone a football tennis player.

Entrepreneurs have to want to play by the rules of business owner success and they have to be good at doing so to succeed. The traits you outlined are typical of entrepreneurs who have successfully followed the rules of success for business owners. In my opinion, I believe that the rules of success for business owners are:

1. The business owner must seek and take full responsibility for the success of the business.
2. The business owner must focus his or her energies almost exclusively on the success of the business (versus power, politics, or image)
3. The business owner must recognize he or she has full control over determining his or her work duties, and has total job security.
4. The business owner must recognize that he or she has no one in the organization to take orders from or indulge. No politics.
5. The business owner must find, attract and keep the partners, employees and vendors who will assist the business to generate more quality income producing results.
6. The business owner will want to pass on salutations and credit to anyone who contributes to the success of the business.
7. The business owner will not want to extract personal favors from subordinates, partners, or vendors that hinder the success of the business, and the owner will not allow anyone else to do the same. The business comes first for everyone in the business; otherwise it is converted into a bureaucracy, which will not be a successful business.

Re: What Makes a Successful Entrepreneur?

Noric Dilanchian — Mon, 22 Jan 2007 19:40:14 -0000

To serve client better, I have devoted considerable time in my legal career to understand entrepreneurship - (see my recent Entrepreneurship Toolkit post at http://www.dilanchian.com.au/content/view/90/56/. Therefore I value your focus on the critical question of what might be some of the personality traits of entrepreneurs. I would add that in the context of corporate entrepreneurship the research and books (eg "Built to Last") of Jim Collins do suggest that your first and last bullet points don't necessarily apply.

Re: What Makes a Successful Entrepreneur?

Bill D'Alessandro — Fri, 19 Jan 2007 15:51:49 -0000

Hey Mike,

I think I agree with your point about experience also being a "push factor" for entrepreneurs. I know a number of people who worked for a number of years at large companies, only to say "I can do better" and strike out on their own.

I also agree with your idea that the corporate environment may suppress people's preference for innovation. However, that preference, in my opinion, was already there. The in-born entrepreneurial drive is what makes them take the leap.

Thanks for your comments and for reading! I like your blog by the way, seems extremely applicable to your market.

- Bill

Re: What Makes a Successful Entrepreneur?

Mike Buckley — Wed, 17 Jan 2007 14:44:44 -0000

Good, well-researched post. I think there's a third possibility for the development of entrepreneurship. Some people grow into it through experience. After spending time in the corporate environment, many people become non-conformists. They may already have been achievement-motivated, but the realize that they are working within a structure that has limits. Their preference for innovation may have been discouraged, or at least limited.

Finally, tolerance for uncertainty grows in proportion to the growth of the first three attributes and with increased financial resources.

I may be slightly cynical (my wife would say that's an understatement) but I'm not convinced that entrepreneural "studies" at the college level can ever replace a few years in the corporate world, what with college loan payments and parents who'd like to see some return on their investment.

Keep up the good work.

Mike Buckley
Mine Your Own Business
http://www.tacony.com/myob