Let’s make thing one thing clear from the beginning: I’m not an entrepreneur. In fact, when I first got this assignment, my first phone call was to an old friend of mine in a frantic panic: “My boss must be crazy to agree to this. I don’t know the first thing about being entrepreneurial!” The wise answer I got has stayed with me ever since: “Sweetie, you’ve spent the last 15 years surrounded by hot-headed men who like to run their own show. It’s good that you can now put it to good use....”
So case closed. I was writing about entrepreneurs.
This is a huge leap for me, especially considering that until a few weeks ago I had trouble even spelling the word. I had noticed that it kind of rolled off my tongue in conversations; it’s one of those words that give your IQ an instant upgrade. I call that a “ten dollar word”; like “strategic” or “conversely”. People throw the term “entrepreneur” around to refer to anything from “tycoon” to “self-employed” to “dreamer”.
So true to form, I set out to do some research. Statistically, gender and race have very little to do with entrepreneurship. In fact, there are more women and minorities starting businesses than ever before. So an entrepreneur is no longer defined as a white middle-aged male. They now come in all shapes, sizes and persuasions.
The common thread in everything I read and everyone whom I spoke to was that entrepreneurs must have vision.
Let’s face it: anyone can have “vision”. So what separates an entrepreneur from a dreamer?
1.Entrepreneurs are charismatic: I should know: I’ve dated a few. But the real power of the entrepreneurs is to engage people around their vision. An entrepreneur is naturally magnetic, which is great when you’re looking to build a team around your idea.
2.Entrepreneurs are “street smart”: A tertiary education doesn’t hurt but it’s not always necessary. Degree or no degree, entrepreneurs are often self-taught and are inherently curious. Also, there seems to be a pattern of a creative vein – most true entrepreneurs have a creative hobby on the side.
3.Entrepreneurs understand money: An entrepreneur’s concept of money is slightly different than the rest of us. They see money as a leverage tool, rather than as a means of acquisition. They understand that financial muscle translates to power of change.
4.Entrepreneurs are risk takers: Let’s not confuse this with “gamblers”. Entrepreneurs take calculated risks based on informed decisions. A gambler’s odds are hedged on things like gravity or luck; or worse, other people’s odds. An entrepreneur plays to tape to the end and knows what to expect before going all in.
5.Entrepreneurs have short attention spans: I call it being a “Change Junkie”. My friend Derek calls it “being a shark.” A simpler explanation is self-inflicted ADD. Entrepreneurs are ahead of the game because they are in a constant state of evolution.
6.Entrepreneurs work hard: a good idea doesn’t suddenly turn a lazy bum into a hard worker. What’s more, entrepreneurs like working hard. They get a high from getting this done and seeing things change.
7.Entrepreneurs like to run the show: not only at work but in their private life. You'll find it difficult to pin down an entreprenuerial mind and tell them what to do, where to go and when they need to be there. Entreprenuers like to make the rules, not necesarilly play by them.
8.Entrepreneurs are self-motivated: whether the motivation is money or freedom or just proving someone wrong, an entrepreneur’s driving force is purely internal.
9.Entrepreneurs often come off as jerks: This is a combination of self-confidence and enthusiasm. For people who don’t share that sensibility, this might come off as self-promoting and cocky. In truth, an entrepreneur is just trying to spread and celebrate the vision.
10.Entrepreneurs are incredibly competitive: Inwardly and outwardly, entrepreneurs live in perpetual one-upmanship.
After examining these traits I had a long, hard think. I did share some of the characteristic: short attention span, the restlessness, the competitiveness...Was I a closet entrepreneur?
The short answer, no. For one, I like having a boss. I am more driven my me sense of duty than by personal achievement. Had I not gone into communications, I probably would have made a good diplomat. I like the external validation, it keeps me moving. I am good at serving someone else’s vision rather than crafting my own.
Now my head is full of questions: Do you need all ten characteristics to be a entrepreneur? Is there one that is more dominant than another? Are there different kinds of entrepreneurs? How is new media changing the way they develop their vision? What motivates an entrepreneur? Are they born or bred? Can entrepreneurship really be taught? Can it be mentored?
So after days of research and pondering, I had finally arrived at a starting point for this blog: being an entrepreneur is more of a personality than a profession and, if nothing else, entrepreneurs are fascinating. I now have a brand new world to explore and a whole new set of minds to hack into.
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