Entrepreneurs
Are they born or bred?
Derek Whitney
South Hampshire Enterprise Agency
21 Feb 07
Agenda
SHEA - who are we?
Entrepreneurs - Types/motivations
Traditional views
Competencies -what are they and what do they tell us
How to use competencies – in helping entrepreneurs
Intrapreneur
Conclusions
SHEA MISSION
ENTERPRISE AGENCY
TO PROMOTE, STIMULATE & ENCOURAGE
ENTERPRISE ACTIVITY IN SOUTH HAMPSHIRE
TO ASSIST THE PROCESS OF NEW BUSINESS START-UP
BY
A FREE & INDEPENDENT COUNSELLING SERVICE
TRAINING
MANAGED WORKSPACE
AIMED AT
PRE-START AND START-UP BUSINESSES
South Hampshire Enterprise Agency
Activities
1:1 coaching
Training
Business Link
SHEA training
Managed workspace
Liss
Fareham
Paulsgrove
Solent
Other
Social Business
Intrapreneur
Consulting
Funding Projects
We see a number of different types of Entrepreneur
Referral by job centre
sole traders
60% men/women
lifestyle business /operated locally
service industry/few employees
micro business/below VAT threshold
lone inventors 80% men
social enterprises
WHY? -/+ factors
Lost job/shock/lifestyle change/more control work life balance
immigration
post 50+/difficulty in employment
Greater publicity & awareness/success stories/watching others
HIGH GROWTH START UP -University/technology/global
Bill Gates/Richard Branson
What help do start-up businesses ask for?
 Finance - raising funds to start
 Legal - company structure - NIC - legal
requirements - relevant legislation - terms of trade
 Sales & Marketing
Market research
advertising
business cards - fliers
web sites
 Book keeping - keeping records -VAT - tax
 “Confirm what I was told in the pub”
Traditional
Characteristics of the Entrepreneur
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Characteristics A
drive
ambition
risk tolerance
desire
knowledge
Communication skill
originality
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Characteristics B
Self control
self confidence
urgency
awareness
realism
conceptual ability
status
interpersonal relations
emotional stability
What makes an entrepreneur run a successful
business?
Is it -SKILL? EFFORT? LUCK?
PEOPLE CREATE OUTSTANDING PERFORMANCE
through
Going beyond the norm
Teamwork
CREATIVITY - INFLUENCING -PERSISTANCE -RESULTS
Entrepreneurial success = behaviours
(effort+skill+luck)
Management & Entrepreneurial Competencies
 Behaviours are the outward sign of competencies
 Competencies are personal characteristic that contribute to
outstanding performance in a particular job
 They are measurable
it is what separates the best from the rest
 Characteristic can take 6 forms ( see over)
 Competencies make the difference between outstanding and
average performance
 A strong competency is what outstanding performers exhibit
more often & with better results
Iceberg Diagram of Competencies
Skills
Knowledge
Social role
Self image
Trait
Motive
Skill - ability to do something well
Knowledge - Info that a person uses
Social role - pattern of behaviour
Self - image – person’s view of themselves
Trait - a typical aspect of a persons behaviour
Motive - a persons thoughts which drive
behaviours achievement, affiliation, power
Entrepreneurs are bred
 In broad terms we come into this world with “ the same
potential” to be entrepreneurs (10%)
 The competencies which are required for a successful
entrepreneur
are developed at an early age 0-7 years
 In 18-65 year olds (the working population)
 if the competency has been demonstrated in the past
 lengthy coaching can help
 if the competency is seldom demonstrated or very weak
 it is improbable that a dramatic change can be brought
about
 if the competency is inherently strong
 coaching will yield a very substantial increase in
performance
Entrepreneurial competencies are divided into 4 clusters
achievement
thinking
self management
influencing
0
interpersonal awarenes
analytic
standards
tenacity
self image
20
rational persuaion
conceptual
initiative
ability to learn
thoroughness
40
60
% strength of competency
concern for impact
strategic
results orientation
independence
self develoment
80
strategic influencing
efficiency
critical info seeking
self control
adaptability
100
1 What behaviours equal superior performance
for the entrepreneur
achievement
initiative
Thinking style
Conceptual thinking
Results orientation
Critical info seeking
Strategic orientation
Analytical thinking
Efficiency orientation
2 What behaviours equal superior performance
for the entrepreneur
positive self management
influencing
Tenacity
Concern for impact
Assertiveness
Interpersonal awareness
Self control/image
Rational persuasion
Thoroughness
Strategic Influencing
How to use Entrepreneurial competencies in business
 In recruitment of staff with entrepreneurial
traits/competencies
 In building new business development teams and developing
the concept of
 INTRAPRENEUR
 “Using entrepreneurial behaviours within a business”
 In personal annual reviews to encourage entrepreneurial
behaviours
 In training and coaching
 In developing better organisations to grow businesses and be
globally competitive
INTRAPRENEUR
£ value
Sales
Intrapreneur
intervention
Creativity/Innovation
Key Performance challenges
Organisation/teams
Time
Entrepreneur
Conclusion
 Entrepreneurial success can be attributed to identified &
strongly exhibited competencies
 These are developed early in life
 Competencies can be measured and used to test existing staff
and new recruits
 Some selected training can be helpful – not all individuals can
be helped
 Developing the Entrepreneur within the company
INTRAPRENEUR can be a positive step forward to kick start
growth