• Can entrepreneurship be learned, or are you born
to it?
• If entrepreneurship can be learned, how can you
become an entrepreneur?
Entrepreneurs are, in this context…
… those who innovate and carry risk in building a
new business
So… we are not talking about
• Intrapreneurs (so-called corporate entrepreneurs
who don’t carry the risk themselves)
• Small-business owners (who don’t innovate much)
• Franchisees (who don’t innovate much)
…though they are included in many
definitions of ‘entrepreneur’
And they do it because…
• They want to control their own destiny
• They can build something great/cool/fun
• They consider ‘having a job’ to be boring or
unchallenging
And often ..
• The world of ‘jobs’ is just too slow-moving for them.
Entrepreneurs set their own pace, and it’s usually
fast!
Nature/nurture debate
• Entrepreneurs are both born and made
• You got to have a basic personality receptive to the
experiences which make an entrepreneur.
• Study shows, there are other bigger factor, that
determine which of us will actually be able to
embrace the mindset of an entrepreneur
Comfortable people don’t make good
entrepreneurs
Correlation between unmet needs
and strength of entrepreneurial
profile?
When people are comfortable and
self-satisfied:
• they lose the need to innovate in
the demanding way required of
entrepreneurs
• they lose the excessive drive
which powers an entrepreneur’s
achievement
Three common motivators are:
• The creative desire to build something great
(legacy)
• The desire to make the world a better place (social
conscience)
• The desire to ‘prove yourself’ (challenge)
• The desire to ‘prove yourself’ is particularly common
because entrepreneurs judge everyone, including
themselves, by what they achieve…. Results are
everything!
Sometimes the unmet needs have deep
roots…
Characteristics and Behaviours
Passion
Drive
Self-belief
Persistence
Opportunism
Vision
Optimism
Resilience
Resource gatherer
Innovator
Deal-maker
Seller
Goal-seeker
Communicator
…so that’s all you need!!
Learn to be an entrepreneur by…
• Examining your own profile … knowing how you’re
likely to behave makes it easier to recognise
inappropriate behaviours
• Getting mentors/board members/advisors who will
tell you when you’re going wrong, and reinforce you
when you’re going well
• Taking time to reflect on what you’re hearing about
your own behaviours, and modifying your
behaviours where appropriate
The reflective learning process
Work on the
project/company
Listen to the advice you’re getting
from mentors/boards/advisors
Listen to feedback from
customers and staff
Balance that advice against what you
know about yourself
Change what you’re doing
where appropriate
Repeat the
process
Reflective learning is difficult for
entrepreneurs because…
• Entrepreneurs are externally focused (it’s about
what I do rather than who I am). They don’t tend to
ask for personal help (it’s about task
accomplishment, not personal development)
• It’s hard to practise reflective learning when you’re
under stress (and company building is stressful)
But the best time to learn is while you’re actually
working on a company… if you are open to learning.
Understand yourself, and you can still
learn while you’re under pressure
In summary
• Can entrepreneurship be learned, or are you
born to it?
• There are some ‘natural’ elements, but
entrepreneurship can be learned if you can
understand your strengths and weaknesses
• If entrepreneurship can be learned, how can
you become an entrepreneur?
• Understand your own strengths and
weaknesses, then learn by doing and
reflecting. Building companies is the only
way to learn to be an entrepreneur