Entrepreneurs

I found a very interesting article written by Thomas Oppong – Founder of Allstarstartups.com, about Entrepreneurs and what makes a good Entrepreneur. As most of you reading this are Entrepreneurs or aspiring Entrepreneurs I thought I’d share it with you.

“Greatness is not measured by what a man or woman accomplishes, but by the opposition he or she has overcome to reach his goals.”-Dorothy Height

There are millions of people around the world who calls themselves entrepreneurs. There are others who have been identified by others to possess entrepreneurial qualities. And yet there are entrepreneurs who are just great at what they do and have influenced the world globally. Some great CEO’s have taken businesses from bankruptcy and turned things around to create high growth businesses. Would you say they are even entrepreneurs?

A quick Google search (Wikipedia definition) will tell you that the word entrepreneur is a loanword from the French verb “entreprende”, and was first defined by the Irish-French economist Richard Cantillon as the person who pays a certain price for a product to resell it at an uncertain price, thereby making decisions about obtaining and using the resources while consequently admitting the risk of enterprise.

I like Howard Stevenson’s definition of entrepreneurship. He says it is “the pursuit of opportunity without regard to resources currently controlled.” The pursuit of opportunity can lead to failure, but that does not mean the entrepreneur has failed. He or she has just found one option that does not work. If the pursuit continues, success could follow.

What do history’s greatest entrepreneurs have in common?

Great entrepreneurs revolutionise their business sectors, create new opportunities, change the way we think and live, make great impact globally. The list could be endless.

Biz Stone, Co-founder, Twitter once said “Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.” Trying over a period of time if you don’t give up will result in your success one day, and your pursuit can change the world and the way we live. The persistence and the willingness to succeed cannot be overemphasised.

Some qualities of great entrepreneurs

# Great entrepreneurs have guts. Guts is quitting Harvard, like Bill Gates and Mark Zuckerberg did. Guts is quitting a lucrative job on Wall Street, like Jeff Bezos did. And guts is selling everything you own to raise money for your new venture, like Tony Hsieh did.

# They are passionate about what they do and cut out any negativity and not let it stop them.

# They have charisma and can persuade most people to go their way on things.

# They have at a point felt that literally NOTHING is impossible…

# They personally risk everything they have on a business idea or venture.

# They have an inherent belief within themselves that they can do whatever better than anyone else.

# They contribute to the greater good of the masses.

# Willingness to learn and grow. Even the biggest experts are still learning every day.

# They are not afraid to fail and are willing to give 110% to succeed.

# Sometimes stubborn, spread too thin to be optimally efficient, and extremely difficult to manage.
Quotes from some great entrepreneurs of our time.

1. “Ideas are a commodity. Execution of them is not.” – Michael Dell, founder, Dell

2. “The way to get started is quit talking and start doing.” – Walt Disney, co-founder, Disney

3. “Always deliver more than expected.” – Larry Page, co-founder, Google

4. “Make every detail perfect and limit the number of details to perfect.” – Jack Dorsey, co-founder, Twitter

5. “Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” Steve Jobs, co-founder of Apple

6. “You don’t learn to walk by following rules. You learn by doing and falling over.” – Richard Branson, founder, Virgin

7. “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” – Steve Jobs, Co-founder, Apple

In your opinion, who is a great entrepreneur?

6 Comments

  • Richard G M Taylor

    Reply Reply April 28, 2014

    Hi Dominic,

    Great post and to answer your question, you have already mentioned my favourite entrepreneur..Richard Branson and Steve Jobs, both of whom have (or had in Steve Job’s case) a positive attitude in abundance. For me that is the single most important attribute for a successful entrepreneur.

    Richard
    http://richardgmtaylor.com

  • Super-RAJ

    Reply Reply May 1, 2014

    Quality post Dominic!

    Perseverance! Is a big one! People give up at the first, second or tenth hurdle and never reach their goal. Being persistent is to have the mentality of the top 3% and breakthrough the barriers and road blocks no matter what!

  • Dave Thomas

    Reply Reply May 2, 2014

    Dominic

    I suppose I have respect for both Branson and Alan Sugar who started with not much and built solid businesses from humble backgrounds.

    I admire Steve Jobs and it is a shame he is no longer with us and even someone like Bill Gates who is now able to allow his business to run as he wants and send his time for the betterment of others.

    As a trained engineer (and my friends will laugh at that comment!), I suppose two people I admire greatly as well are Thomas Edison who found 1000 ways not to make alight bulb before he found one that worked and, more current, James Dyson for singlehandedly changing the design of the vacuum cleaner.

    Another, who sadly is no longer with us, was Anita Roddick as she had to battle the male business sector to get ahead as well as create and launch a fantastic company!

    DaveT

  • Rose Schwarz

    Reply Reply May 3, 2014

    Hi Dominic

    That was a wonderful post. Mindset is everything when you’re an entrepreneur.

    A favorite entrepreneur of mine is Dani Johnson. She did not have a good start in life, however she pursued her goals tenaciously. She definitely has all of the above traits!

    Regards, Rose

  • Elaine Summers

    Reply Reply May 4, 2014

    Hi Domonic
    Enjoyed reading your blog. Like Richard you have mentioned a couple of my favorite entrepeneurs, Richard Branson and Walt Disney. Only hope that I have their determination and attitude to succeed in this business. Sometimes people think it is luck tht creates a successful entrepeneur like most people really now it is just an awfull lot of hard work and persistence.
    Elaine

  • Sky Nealon

    Reply Reply May 8, 2014

    Hi Dominic,

    Fabulous post and certainly some very inspirational quotes from some of my favourite entrepreneurs too i.e. Steve Jobs, Richard Branson. With regards to your question, some of my other favourite entrepreneurs include Bill Gates and Elon Musk, all of which had great belief in their vision and weren’t afraid to dream big or afraid of failure.

    Kind regards
    Sky

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