The age old question is whether or not good entrepreneurs are born that way, or whether such entrepreneurial skillsets can be learned. Let’s try tackling the answer to this question, by defining which skillsets make for a good entrepreneur, and whether or not they can be taught.
SMART INTELLECT
Not everyone is born an Albert
Einstein. Some people are naturally
intelligent and have high IQ scores, while others struggle in this area (with a
whole lot of people in between). I am
not saying you need to be genius, to be successful as an entrepreneur, as many
geniuses are very book smart, but not street smart. But, intelligence certainly goes a long
way. But, to be fair, people are not
born intelligent, they are most-typically taught the information required to
accumulate intelligence. Score: Learned 1 - Wired 0.
VISIONARY/ GOOD INSTINCTS
Anybody can be smart about the current
status quo. But, very few people can
actually see “outside of the box” to imagine new and innovative ways of solving
current world problems. You typically
cannot teach imagination. You are either
imaginative or you are not. Score: Learned 1 – Wired 1.
PASSION/ ENERGY/ EXCITEMENT
Nothing helps move a startup along like a
good “fire in the belly”. Especially, if
that energy is focused around a product that an entrepreneur is passionate
about. That is why my past startup,
iExplore, was successful, based upon my passion for adventure travel. Passion is particularly important for exciting
prospective employees, customers, partners and investors. You either have passion and can instill
excitement, or you do not. Score: Learned 1 – Wired 2.
PERSISTENCE/ DRIVE
Entrepreneurs need a “succeed despite the
hurdles” mentality and drive. Most
startups have a lot of challenging periods in their growth, and if you are not
persistent enough to “slog through the mud”, you are never going to succeed or
survive. Believe me, it would have been
a lot easier for me to shut down iExplore in the wake of 9/11/01, and its
impact on the travel industry. But, then
I wouldn’t have had the battle scars from a won war, and a successful exit for
my investors. You can’t teach
persistence. Score: Learned 1 – Wired 3.
FEARLESS/ CALCULATED RISK TAKER
As far as I know, you can’t teach someone
not to be scared, or not to boldly go where others have not gone before. Yes, you can teach a person how to assess or
minimize risks, but in my opinion, this category leans more on the side of
wired. Score: Learned 1 – Wired 4.
GOOD COMMUNICATOR/ LISTENER/ SALESPERSON/
TEAM BUILDER/ MOTIVATOR
Entrepreneurs need to do a good job of
communicating their vision, listening to input from others, selling through the
vision to employees/partners/investors, building teams and motivating
employees. For the most part, many of
these skills are basic business skills which can be taught (although I could
have easily shared the vote here with wired given the intangibles required here). Score:
Learned 2 – Wired 4.
DOMAIN EXPERIENCE IN INDUSTRY
The most successful entrepreneurs have had
some exposure to their industry, typically from a previous work experience,
where they had on-the-job training that prepared them for their big
venture. Score: Learned 3 – Wired 4.
So, despite a valiant effort from “learned”,
“wired” hangs on to win by a nose. But,
the overall point here is: it really
isn’t one or the other, as you really need both to maximize your odds for
success, and a 7-0 shutout victory!!
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