venturcelerator
Entrepreneur Myth #1: Entrepreneurs are Born
Much debate has centered on whether the entrepreneur possesses some ‘entrepreneurial gene.’ Based on my personal experience of investing into more than 30 entrepreneurs, I don’t believe there is such a thing. Some people may be more predisposed to become entrepreneurs, but environment has more to do with being an entrepreneur than genetics.
When I was younger, people thought that I was born to be futebol player. Yes, my father was a great athlete and great player and I might have possessed some “athletic genes.” But my success on the futebol field was a result of playing four to five hours every day, 365 days a year – whether sunshine, sleet, rain or snow. My teenage son has tremendous talent for futebol but doesn’t love it enough to play every day for hours. He’s chosen another sport to pursue and he’s starting to practice three to four hours per day. I’m using sports as an analogy but entrepreneurship is a contact sport as well.
Education isn’t the solution either. A few years ago, I spoke to the MBA students at Oxford. The students were extremely educated and wanted to learn why Silicon Valley was the epicenter of the innovation and technology revolution.
Why did Silicon Valley have so many great entrepreneurs? Having lived in Silicon Valley, I realize it’s not really about location per se. It’s not a specific geographic area you can find on the map. Silicon Valley is a “state of mind.” When you go there, you feel the “spirit of entrepreneurship.”
I funded entrepreneurs across the U.S. and I have seen great entrepreneurs everywhere. However there are two key things you can learn from the Entrepreneurs in Silicon Valley: (1) They have acquired an “entrepreneurship state of mind,” and (2) They see failure as a journey – not an end in itself.
I told the Oxford MBA’s the same thing. Looking in their eyes, I’m not sure that most of them where willing to risk the “costs of failure.” A lot of people talk about being an entrepreneur, but most are not willing to risk failing.
Remember, it’s bullshit if you hear it. Entrepreneurs are not born – it’s a state of mind. Anyone can become an entrepreneur. The key question is whether you’re willing to reframe your mind to become an entrepreneur.
1. What are some of the entrepreneur myths you’ve learned being an entrepreneur?
2. What was sound entrepreneur advice that worked before which doesn’t apply today?
Please share here on this forum.
Entrepreneur Myth #2: Raising Capital is Easy
SUBSCRIBE to the Entrepreneur Myths Podcast on iTunes
When I was younger, people thought that I was born to be futebol player. Yes, my father was a great athlete and great player and I might have possessed some “athletic genes.” But my success on the futebol field was a result of playing four to five hours every day, 365 days a year – whether sunshine, sleet, rain or snow. My teenage son has tremendous talent for futebol but doesn’t love it enough to play every day for hours. He’s chosen another sport to pursue and he’s starting to practice three to four hours per day. I’m using sports as an analogy but entrepreneurship is a contact sport as well.
Education isn’t the solution either. A few years ago, I spoke to the MBA students at Oxford. The students were extremely educated and wanted to learn why Silicon Valley was the epicenter of the innovation and technology revolution.
Why did Silicon Valley have so many great entrepreneurs? Having lived in Silicon Valley, I realize it’s not really about location per se. It’s not a specific geographic area you can find on the map. Silicon Valley is a “state of mind.” When you go there, you feel the “spirit of entrepreneurship.”
I funded entrepreneurs across the U.S. and I have seen great entrepreneurs everywhere. However there are two key things you can learn from the Entrepreneurs in Silicon Valley: (1) They have acquired an “entrepreneurship state of mind,” and (2) They see failure as a journey – not an end in itself.
I told the Oxford MBA’s the same thing. Looking in their eyes, I’m not sure that most of them where willing to risk the “costs of failure.” A lot of people talk about being an entrepreneur, but most are not willing to risk failing.
Remember, it’s bullshit if you hear it. Entrepreneurs are not born – it’s a state of mind. Anyone can become an entrepreneur. The key question is whether you’re willing to reframe your mind to become an entrepreneur.
1. What are some of the entrepreneur myths you’ve learned being an entrepreneur?
2. What was sound entrepreneur advice that worked before which doesn’t apply today?
Please share here on this forum.
Entrepreneur Myth #2: Raising Capital is Easy
SUBSCRIBE to the Entrepreneur Myths Podcast on iTunes
Views: 3
Replies to This Discussion
-
Permalink Reply by Sue Voyles on -
I think entrepreneurs are not born, but rather are 'made.' They are 'made' by their passion to strike out on their own with their own idea(s). They are being continually refined through the successes and failures of business ownership. They are made better through the continual learning that is part of the entrepreneurial experience. But I do think that many successful (emphasis on successful) entrepreneurs are 'born' with a trait -- they know how to sell and they know how to close a sale -- whether it's selling their idea to VC/angel investors or their product/service to customers.
-
Permalink Reply by Jana Arnold on -
You are right, Sue. Entepreneurs make themselves by striving to continue learning and achieving and being creative. I don't know how so many people spend their lives living watching television every night. That is watching others to pretend to have a life ;-)
Even when I was working a full time job I felt the need to work over lunch and every evening on my own ventures. Always learning and growing. Both of my parents were entrepreneurs, however.
© 2012 Created by entrepreneurdex team.
