Are entrepreneurs

born or made?

Traits/Characteristics
GAME
On

a sheet of paper write your name, date,

and all the characteristics from the game
Put a star beside ones you possess and an
up arrow beside the ones you want to
develop

What attributes are desirable and

acquirable?

1.
2.
3.

Study of 21 inductees into the Babson University Academy of Distinguished

Entrepreneurs only three attributes and behaviours were mentions by all
21 for principal reasons for their success.

Responding positively to all challenges and

learning from mistakes
Taking personal initiative
Having great perseverance

Other important ones that can be

learned or developed:

Self-reliance,
Seeking and using
feedback
Reality orientation
Response to failure

Team builder
Low need for status and
power
Integrity and reliability
Values

Other attributes: determined to finish a project, do not accept the

status quo, be objective when examining themselves and ideas, do
not blame others or make excuses for their own errors or failures,
raising level of aspirations and expectations, good grasp of general
economic concepts, interact with a variety of people, ability to make
the very best of the resources at hand.
DEVELOP, LEARN NEW THINGS, EXPERIENCES, GOALS - MOTIVATION

Not-So-Learned Characteristics

Innate (always had) born, not made however, there have been many
successful business pioneers who lacked some of these characteristics or
only possessed them to a small degree

1.

High energy, good health, emotional stability

Creativity and an innovative nature
High intelligences and conceptual ability
The ability to see a better future and a capacity to
inspire others to see it

2.
3.
4.

Negative Entrepreneurial
Characteristics

Try to eliminate or at least control these characteristics

Examples:

Invulnerability

Machoism/feminism

Everything must be perfect before it can be implemented can be a killer, run the risk
of being constantly unhappy with work, employees and results do not confuse with
having high standards

Being Anti-Authoritarian

Do not review alternatives before acting

Perfectionism

Trying to prove they are better than everyone, unfair treatment and demeaning
attitudes

Impulsiveness

opinion that the entrepreneur cannot fail no matter what, hasty decisions

Resent their actions being controlled by outside authorities not good when teamwork
and feedback are necessary

Know-it-alls

Know very few answers and fail to recognize that they do not know the answers

Other factors
Background

Families in which their parents or grandparents

were self-employed more likely How were they
influenced?

Environment
Experiences

Entrepreneurial Skills
In

addition to entrepreneurial characteristics,

entrepreneurs require certain skills to ensure
that success of their ventures. These skills
can be learned!
What are they?

Brainstorm

Skills
Communicate
Generate

ideas

Identify

opportunities
Plan
Organize
Make decisions

Solve

problems
Negotiate
Network
Market their ideas
Keep records
Lead others

You can develop these skills, but what else can you do?

Entrepreneurs may take on many

roles:
Inventor

develop new ideas for products,

processes or services
Innovator improve existing products,
processes or services
Manager set goals and develop plan
Administrator implement plan/goals
Leader vision/communicate

What makes entrepreneurs tick?

Agents

of Change

Brainstorm
Terry

Fox Assignment put in portfolio

Other
Enterprising

employees (trade offs/what are

they looking for)
What motivates you to excel?

Internal motivator vs external motivator

What

is a key factor for motivating

enterprising employees? hint: R______tion
How do you support enterprising employees?

Assessing Entrepreneurial
Potential - Young Entrepreneurs
First

Steps page 45 figure 3.1

Challenges?
Experience
Goals why set them? Flexibility is needed.
Know yourself

Edison (logical/incremental problem solving) or

Einstein (out of the box thinking)
Skills/Characteristics/Personality

Self Assessment Assignment

Characteristics
Skills