What animal has the tough
skin of an armadillo and the endurance of a marathoner? The
entrepreneur.
OK, first things first. I am
not an entrepreneur. I do have a passion for entrepreneurship and
NTEC is still a startup in my view, but I have not had to risk it
all to pursue my entrepreneurial dreams….yet.
So why the tough skin?
Undoubtedly, the horror stories about divorce rates, financial
ruin, and so forth are enough to scare anyone into indecision.
Ultimately, an entrepreneur decides, by his own free will, to
pursue a startup idea. Many other options would have been safer,
but the entrepreneur foregoes the safe and opts for the
exhilaration of the unknown.
Endurance is key. When one consults lists, takes tests, reads
articles and asks friends to expose all the traits necessary for a
successful entrepreneur, most will mention avoiding vacation for
the next 5 years. Here is a list of the 11 traits of an
entrepreneur written by Patrick Driessen.
Interesting and worth reading.
Lately, some of the myths of
the "typical" entrepreneur have fallen. Among these is the common
belief that most startup entrepreneurs are young. According to a
recent
Kauffman Foundation study, the
average age of a technology entrepreneur is 39. Be assured that
while I agree "39" is young, I seem to be in a minority.
Another common belief is that
the entrepreneur is a solo genius, responsible for all the
invention/improvements himself. As Sheryl Jean wrote in the Dallas Morning
News this weekend, more often than not,
we're talking about an entrepreneurial duo. I find this to be the
ideal scenario. I would go even as far to say that at its core, a
married couple is the quintessential business unit. I did ask not
to be quoted as saying "marriage can be distilled down to basic
economics". But like a marriage, a business unit thrives on trust
and complementation. Brad Feld, quoted in this article, said the
duo is ideal, followed by a trio. Most important is having a person
to share the highs and lows.
In my opinion, an entrepreneur is a balanced person, someone who
is comfortable in many different settings. This is important,
because a startup will need the support of many people. A leader
must be ready to communicate within the diversity of his own
company. Or, he must elect someone that can.
Sometimes, entrepreneurs are
confused about their role in the company. For instance, the
founder, often someone with a research or technical background, may
drive the business forward in the beginning. However, this may not
be the best person to continue driving the business forward. In
these cases, I seek assurances that the founder is willing to step
aside and take on a different role sometime in the future. I assume
that the entrepreneur will ask for outside capital. If I don't get
the right vibes, I'll ask the question straight up. Usually, one
can tell by the response if it is honest or lip service.
So, do you have the endurance
of a marathon runner and the tough skin of an armadillo?
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