Globe '16 ppt
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The document discusses the high failure rate of startups and the characteristics that contribute to entrepreneurial success. It highlights the importance of founder readiness and market viability, while introducing an Entrepreneur Core Characteristics Profile (ECCP) as a tool for self-assessment. Eleven key traits of successful entrepreneurs are identified, emphasizing the complexity of successful entrepreneurship beyond mere passion or skills.
Globe '16 ppt
- 1. What Makes an Entrepreneur?︎ John Bradberry︎ November 28, 2016︎
- 2. 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
- 3. Most People Dream of It Surveys: 72 percent of working adults said they wanted to start their own business (Source: Intuit)
- 4. Reality Most ventures close within 5 years of forma<on. 7 of 10 close within 10 years.
- 5. Reality 6 of 10 people who become self-‐employed go back to work for someone else within 10 years.
- 6. 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.
- 7. Reality Two-‐thirds of all owner-‐operated businesses earn less than $10,000 in annual profits.
- 8. Business owners report longer work hours and more stress, fa<gue, insomnia, depression, and conflict with spouses. Reality
- 9. WHY?
- 10. 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
- 11. A Core Issue +
- 15. Market Founder
- 16. Market Math Founder
- 17. Market Math ExecuEon Founder
- 18. 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?
- 19. + Staying Power
- 21. Purpose / Goals Knowledge / Exper<se Personality Rela<onships Resources Founder Readiness
- 22. Founder Readiness Purpose / Goals Knowledge / Exper<se Personality Rela<onships Resources
- 26. 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
- 27. Eleven Core Characteris6cs • Business Oriented • Invenve • Independent • Driven • Risk Tolerant • Confident • Persuasive • Resilient • Reliable • People Oriented • Principled
- 29. Inventive
- 31. Driven
- 34. Persuasive
- 38. Principled
- 39. • see any qualities that could be too much of a good thing? Icarus QualiEes
- 40. Icarus Quali6es • Business Oriented • Invenve • Independent • Driven • Risk Tolerant • Confident • Persuasive • Resilient • Reliable • People Oriented • Principled
- 41. Founder A
- 42. Founder B
- 43. Founder C
- 44. Founder D
- 45. 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?
- 46. 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)
- 47. 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 Cohorts -‐-‐ ECCP Means
- 48. THANK YOU