globe '16 ppt
TRANSCRIPT
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What Makes an Entrepreneur? ︎
John Bradberry︎
November 28, 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
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Most People Dream of It
Surveys: 72 percent of working adults said they wanted to start their own business
(Source: Intuit)
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Reality
Most ventures close within 5 years of forma<on.
7 of 10 close within 10 years.
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Reality
6 of 10 people who become self-‐employed go back to work
for someone else within 10 years.
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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.
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Reality
Two-‐thirds of all owner-‐operated businesses earn less than $10,000 in annual profits.
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Business owners report longer work hours and more stress, fa<gue, insomnia, depression, and conflict with spouses.
Reality
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WHY?
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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
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A Core Issue
+
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Entrepreneurial Passion
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The Usual Suspects
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Founder
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Market
Founder
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Market
Math
Founder
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Market
Math
ExecuEon
Founder
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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?
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+ Staying Power
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Founder
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Purpose / Goals
Knowledge / Exper<se Personality Rela<onships Resources
Founder Readiness
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Founder Readiness
Purpose / Goals Knowledge / Exper<se
Personality Rela<onships Resources
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Personality
Ash Khan, omni-‐potence
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Personality������
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Skill ���
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Personality������
���������
Destiny ���
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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
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Eleven Core Characteris6cs • Business Oriented • Inven<ve • Independent • Driven • Risk Tolerant • Confident • Persuasive • Resilient • Reliable • People Oriented • Principled
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Business Oriented
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Inventive
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Independent
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Driven
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Risk Tolerant
www.CCAL.org
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Confident
Entrepreneur.com
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Persuasive
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Resilient
www.earlytraumagrief.anu.edu.
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Reliable
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People Oriented
flashmobBarcelona.jpg
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Principled
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• see any qualities that could be too much of a good thing?
Icarus QualiEes
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Icarus Quali6es • Business Oriented • Inven<ve • Independent • Driven • Risk Tolerant • Confident • Persuasive • Resilient • Reliable • People Oriented • Principled
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Founder A
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Founder B
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Founder C
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Founder D
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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?
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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)
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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
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THANK YOU