the golden egg
DESCRIPTION
How to become a successful entrepreneur. That's the main topic of this book. Based on scientific research on entrepreneurship by the author and successful entrepreneur Dr. Martijn Driessen, the most important competencies for success in business are revealed. What ever business you are in or thinking of to start, you are the most important asset. Your strength and weaknesses define the type of entrepreneur you are. You are the golden egg. This book helps you to gain valuable insight into your motivation, your characteristics and thinking styles. Practical information on what you need and - more important - how you can develop yourself to become a successful entrepreneur. In the Netherlands already more than 60,000 copies are sold!TRANSCRIPT
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The Golden eGG
A scientific approach on how to become a
successful entrepreneur
A scientific approach on how to become a
successful entrepreneur
Dr. Martijn Driessen
Over 60,000 copies sold in the Netherlands
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2
Ind
ex
ISBn/eAn : 978-90-811019-6-7Title : The golden eggSubtitle : Ascientificapproachonhowtobecome
asuccessfulentrepreneur.Author : Driessen,MartijnIllustrator : Houdijk,MarjolijnTranslator : denHolder,GreetjePublisher : EntrepreneurConsultancyBVnUR-code : 800NUR-description : GeneralbusinessEdition : FirsteditionIllustrations : JPages : 12,91,4Language : EnglishAppearance : Eboek:Epub,digitalwatermark,download/online
www.entrepreneurscan.com
Copyright©2014MartijnDriessen
PublishedbyEntrepreneurConsultancyDesignandlayout:MarjolijnHoudijkbyLijntjes.nl
Nopartofthispublicationmaybereproducedand/orpublishedbyprint, photocopy,microlforanyothermeanswithoutpriorwrittenpermission ofEntrepreneurConsultancyBV.
Whilethisbookwaswrittenwithgreatcare,neitherauthornorpublisheraccept anyliabilityfordamagesarisingfromanyerrorsand/orinconsistenciesinthisbook.
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Index
Preface
The Golden Egg in a eggshell: how to become a successful entrepreneurEntrepreneurship is HOT!Practical examples• Self-employedAlfonso• BusinessownerDirk• EntrepreneurAndré• EntrepreneurBettine
1 What is entrepreneurship? 2 When are you an entrepreneur? 3 What is a competence? 4 What constitutes the entrepreneurial competence? 4.1 Motivation: What do you really want? 4.1.1Entrepreneurialmotives:whydoyouwanttobeanentrepreneur? 4.1.2Whatmatters:Doesitcomefromtheinsideortheoutside?4.2 Personal characteristics: Who are you truly? 4.2.1Characteristics:Whatdefinesyou? 4.2.2Thinkingstyles:Whichdoyouprefer?4.3 Qualities: What can you do well? 4.3.1Thephasesofacompany 4.3.2Theearlyphase:Whenyouhavejuststarted 4.3.3Thematurephase:Whenyourcompanyhasgrown4.4 Knowledge: Do you know what other people know? EntrepreneurScan Abouttheauthor Feedback
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3844505660616366 6780 86889498
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PREFACE
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Preface
Thisbookdiscussesentrepreneurship.Whatisentrepreneurshipandwhatdoyouneedforit?Entrepreneurshipisasubjectthatfascinatesmeandkeepsmebusy.Over17yearsago,Itookmyfirststepsintoentrepreneurshipwithmyfirstproduct:theEntrepreneurScan,inshort:E-Scan.IwasobsessedwiththeideathenandIstillamtoday.Theideadoesnotwanttoletgoofme.Itismymission:developingentrepreneurship.Thisbookisaconcreteproductofthat.Withthisbook, Ichallengeyourentrepreneurship.
WhenIrecallmyentrepreneurship,bothsuccessesandfailures, Isimultaneouslygetgoosebumpsandshiversdownmyspine. Ithasbeenawonderfultime:notalwaysfun,butcertainly educational.Irecallallthepeoplewhohavehelpedme,butalsoallthepeoplewhohaveopposedme.Ithasmademestronger.Withthisbook,Ihopetohelpyouwithyourentrepreneurshipandtoshowyouhowyoucandevelopityourself.
Manypeoplehavehelpedmewritethisbook. Iamgratefultoallfortheirtimeandeffort inthecreationofthisbook.
MartijnDriessenHolland,2014
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Who do you see in the mirror?
vision
Challenges
Inspiration
Myself
knowledge
Power
pioneerPersonality
Flexibility
Enthusiasm
Qualities
Motivation
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vision
Challenges
Specialism
Inspiration
Myself
knowledge
Power
Enthusiasm
In a nuTshell...
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INANUTSHELL
The Golden Egg in a eggshell: how to become a successful entrepreneur
Entrepreneurshipisseeingandexploitingopportunitiesthroughone’sowncompanyorwithina(larger)companywithwhichyoucreatevalue,foryourselfaswellasforothers.Valueentailsmuchmorethanjustmoney.Itisabouthowsatisfiedthecustomersare.Creatingvaluedoesnotnecessarilymeanthatyouhavetostartandrunyourownbusiness.Creatingvalueisalsopossiblewhenyouworkwithinacorporation–wecallthisintrapreneurship.
Ifyourunabusinessonyourownaccountandrisk,youareabusinessowner.Ifyougenerateyourownincomeandhavenofurtherambitiontogrowortoberesponsiblefortheincomeofothers,youareself-employed.However,ifyoudohavetheambitiontogrow,totakeonchallengesandtotakeothersalongfortheride,youareanentrepreneur,or“solopreneur.”
Beinganentrepreneurorsolopreneurimpliesanatureofbeingentrepreneurial–havingandshowingasetofcompetenciesthatsupportyourdreamsandsuccess.Youcanusecompetencieslikemarketawareness,creativity,flexibility,theabilitytotakerisks,dominanceandperseverance,forexample,tosatisfyyourselfandyourcustomers. Therefore,themostimportantquestionthatyouneedtoansweris‘areyou entrepreneurialenoughforthesuccessyoudesire?’
In short, you need to follow four steps to become a successful entrepreneur:
Step oneThefirstandmostimportantstepistobemotivatedtobecomeasuccessfulentrepreneur,whateversuccessfulmaymeantoyou.Itallhastodowithyourinnermotivationtobecomewhatyouhavealwaysdreamedofbecoming.Whatdrivesyou?Whatmakesyoutick?Whatisyourinnerpassion?Whateveryouwant,youmusthaveaclearvisionandaconstantlyburningfiretoachievethatgoal.
Step twoThesecondstepistostartenvisioninghowtoachieveyourgoal.Atleastthinkofwhatyourfirststepwillbe.Donotthinktoolong.Evenifyoucannotseethewholeroadyet,startwiththefirststep.Everylongjourneystartswithafirststep.Sogetgoing,andkeepgoing,asyouplanyournextstep(s)alongtheroad.
Step threeTherearemanypathstosuccess,becauseyouareuniqueandsoisyourpathtosuccess.ThebesttipthatIcangiveyouistofindyourownpath.Keepyoureyesandearswideopen,butalwayskeepyourfocusonthegoal.Listentopeople–especiallytoyourcustomers–andtrytoletthatbenefityourbusiness.Bemarket-awareandbecreativeinmeetingtheirchangingdemands.Beflexible,butalwaysstayincontrol,andkeepyourindependenceforwhatmatterstoyou.Staytruetoyourinnerbeliefs,butgethelpwhereothersoutperformyourweaknesses.
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Step fourThefourthstepisthemostdifficultstep.Manydiversions,distractions,pitfalls,setbacksanddisappointmentswillariseonyourwaytosuccess.Thehardestpartispersevering.Tomaintainconfidenceinyourselfandyourendeavors,takeriskswhenyoudoubtyourwayforward,daretogethelp,andmeetpeoplewhocanandwillhelpyoucommunicateyourvision.Believeme;setbackswillhityou(too).Toovercomethese,youwillneedtogobacktostepone.Rememberwhyyouaredoingthis,becauseifyoudonot,nooneelsewill!
Forapopulartelevisionprogramcalled100%entrepreneur,wehavetestedmorethan8,000businessownersviawww.entrepreneurscan.com.Insummary,thefollowingpicturearose:
The 100% entrepreneur:Usesone’spowersofmanipulationCreatesvisionIs(too)criticalWorkspurposefullyLikestoorganizeSeesproblemsaschallengesTakescriticismpersonallyGetsonwellwithpeopleWantstobetheleaderofateamKnowshowtomakeothersenthusiasticIsatone’sbestwhenthingsrunsmoothlyandorderlyIsapain-in-the-asswhenthingsdonotrunsmoothlyContinuouslythinksaboutthegoalstoreach
Inshort,anentrepreneurisadreamer,whoputs visionintopractice.
Entrepreneurship is about seeing opportunities (eyes open), reflecting upon them (eyes closed) and exploiting them (euro sign), not only by creating value for yourself, but also for others; that is the big smile of entrepreneurship
Dr.MartijnDriessen
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that hill
climb up
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enTrepreneurshIp Is hoT!
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ENTR
EPREN
EURSH
IPISHOT! Entrepreneurship is hot!
Theworldisincreasinglymoreinterestedinentrepreneurship.Theideaofbecominganentrepreneurisappealingtoagrowingnumberofpeople.AglobalreportoftheGeneralEntrepreneurshipMonitor2012showsthatroughlytwooutofthreepeopleseestartingabusinessastheperfectcareerswitchandthestatusofsuccessfulentrepreneursisoverallhightoo.
TheimportantpartthatSMEsplayintheprovisionofjobsishighlighted.SMEsareacountry’semploymentengine.Theroleoftheentrepreneurinacompany’ssuccessisincreasingandsoisresearchintothattopic.
Whatfactorscontributetothesuccessofacompanywhenitcomestothepersonalityandbehavioroftheentrepreneur?Thisquestionisworthconsidering,notjustfortheentrepreneurorthepersonwhowantstobecomeone,butalsofororganizationsandcompaniesfocusingonentrepreneurs.
Banksassessa(starting)entrepreneuronone’sbusinessplan.Theentrepreneurwillalsobeassessed,whichisusuallydoneusingthatelusive“gutfeeling”though.Besidesyour“visible”businessplan,youwillbetestedonyour“invisible”entrepreneurship.Withoutadoubt,doingbusinessisamatteroftrust.Ifthingsdonotclickbetweenyouandthefinancier,thereisnobasisformutualtrust.Thesameistrueforyourcustomersandsuppliers.
Whenitcomestofinancing,startingentrepreneursareatadisadvantagecomparedwithmoreestablishedentrepreneurswithyearsofexperience.Astarterisabiggerriskfinancially,asonehasnoproventrackrecord.Forpersuadingyourbank,itisthereforeessentialthatyouhaveentrepreneurialskillsatyourdisposal.
Evenifyoudonotintendtousebankfinancing(about20%ofstartingentrepreneursuseabankloan),itisimportanttoknowhowtopersuadethosearoundyou.Youcanonlydothatifyouarepreparedtoassessyourownbehavior.Thatisjustastrueforastartingentrepreneurasforanexistingbusinessowner.
Ingeneral,thepersonaldevelopmentofanentrepreneurisnotthesameasthe (business)developmentofthecompany.Theweaknessesoftheentrepreneurarethe potentialpitfallsforthedevelopmentofthecompany.Hence,recognizingand understandingyourpersonalweaknessesisimportantforthegrowthofyourcompany.Acceptingtheseweaknessesmaypreventyourcompanyfromprogressinginthewrongdirection.Onlythen,youcandetermineasuccessfulstrategythatcomplementsorcompensatesforyourweaknesses.
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Know Yourself!Inordertocomplementyourentrepreneurialskills,itisessentialtoknowyourself.Themainquestionis:howdoyougettoknowyourselfandfindoutwhetherentrepreneurshipsuitsyouifyouhaveneverbeforesetupabusiness?About50%ofallpeoplewhosetupabusinessquitwithin5years,eitherbecauseofbankruptcyorbecausetheydecidetodiscontinuethecompany.Apparently,beinganentrepreneurhasnotgiventhemwhattheywanted.Bankruptenterprisescosttaxpayerslotsofmoney.Thisgivesevenmorereasontothinkaboutyourentrepreneurshipcarefully,whetheryouarejuststartingorhavestartedsometimeago.
Entrepreneurshipisfantastic.Thisfascinatingtopicisthesubjectofmanybooks.Manybooksdealwiththebusinessside,toofewwiththepersonalsideofentrepreneurship–themanorwomanconcerned:theentrepreneur.Asanentrepreneur,youwillhavetoliveuptotheideasinyourhead.Youwillhavetoachievewhatyouhavewritteninthatperfectbusinessplan.Youarethemostimportantsuccessfactor.Therefore,knowingwhatyourweaknessesandstrengthsareisessentialtoyourenterprise,notjustforyourselfbutforothersaswell.Evenifyoustartasaone-manband,youstillneedotherstohelpyouwithyourenterprise.Youcannotdoeverythingyourself.Makesurethatyoupicktherightpeopletohelpyou.Canyoudevelopyourentrepreneurialskillsorcanothershelpyouwiththat?Howwillyoudothat?Howdoyourecognizesomeoneelsehavingtheskillsthatyoulackandwillyoucontinuetoworktogetherinthelongrun?Manyentrepreneursstartingouttogetherquitafterawhile,becausevariousfactorsmakeitimpossibleforthemtoworktogether.
Thisbookisforstartingentrepreneurs,existingbusinessownersandthosewhowanttobecomeentrepreneurs,suchasstudentsoremployees.Ofcourse,thisbookoffersnewandpracticalinsightsforcareeradvisors,bankmanagers,teachers,policymakers,etc.Inshort,thisbookisforanyoneinterestedinentrepreneurship,inhowtotestit,andinhowtodevelopyourskills.Withthisbook,youwillgetaninsightintothepsychologyoftheentrepreneurandthepersonalskillsneededforsuccess.Thedepthsofthesouloftheentrepreneurareunraveled.Youcancheckforyourselfwhetheryouareanentre-preneur.Furthermore,thedefinitionofentrepreneurshipandthedifferencebetweenabusinessownerandanentrepreneuraredescribedindetail.
Thisbookshowswhatbusinessisallaboutwhenyoulookatthepersonalsideofit:entrepreneurialcompetence.Youarethegoldenegg.Thesecrettosuccess.Itcoverswhoyouhavetobe,whatyoucando,whatyouneedtoknow,howyouevaluateand,finallyyetimportantly,howyoupresent
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ENTR
EPREN
EURSH
IPISHOT! yourselfwhileevolvingintoanenterprisingentrepreneur.Furthermore,retired
entrepreneursexplainhowtheyhaveconqueredinbusiness,theirsuccessesand failures,howcompetenttheyare,howtheyhavebenefittedfromtheirstrongerandweakercompetences,whatqualitieshavemadethemsuccessful,andwhatqualitieshavenot.
The core of this bookThecoreofthisbookisbasedontheextensivedoctoralresearchIhaveconducted attheUniversityofGroningenintheNetherlands.Entrepreneurialcompetencehasformedthefoundationofmyresearch,whichconsistsoffourelements:• Motivation• Characteristics• Qualities• Knowledge
Ihaveexaminedtherelationshipbetweentheseelementsandsuccess, inwhich“success”isseenas(atleast)lettingthecompanycontinue.
Forthisbook,Ihavespokentoseveralentrepreneurswhotoldmeabouttheirsuccessesandtheirfailures.Someofthemtellwonderfulstoriesofgoingfrombeingamillionairetobeingbrokeandbacktobeingamillionaireagain.Iconnecttheirpositiveandnegativeexperiencesasentrepreneurstotheircharacteristicsandqualitiesinordertodeterminewhatcharacteristicsandqualitieshavecontributedtotheirsuccessaswellastheir failures.Howwellhavetheybrusheduptheirself-knowledge,andhowhonestly havetheylookedinthemirror?Havetheysoughtandfoundcompensationfortheirweaknesses?Ianswerthesequestionsinthisbook,whichwillprovideadeeperinsightintothepsychologyoftheentrepreneuraswellasamirrorforyourownentrepreneurshipandpathtosuccess!
The structure of this bookFourentrepreneurswillsharetheirsuccessesandfailures,andtheywillexplainwhatqualitiesandcharacteristicshavecontributedtotheirsuccess,butmoreimportantly,whatqualitiesandcharacteristicshavenot.Theiridentitiesarenotrevealed,buttheirentrepreneurialspiritandenterpriseare.Afterthat,Iwillgiveyouthedefinitionofentrepreneurship,describetheentrepreneur,anddescribeone’scharacteristicsandqualitiesindetail.
Whatarethemotivationsforstartingabusiness?Whatmakesabusinessgood?Isitanadventure?Areyouanentrepreneurbecauseyouarefrustratedandexasperated?Thesequestionsareimportant,becausetheydetermineyouractionswhenthingsdonotworkoutthewayyouwantthemto.Willyoupullthroughorwillyoudosomethingelsethatyoulike?Whatcharacteristicsandqualitiesareimportant?Whatqualitiesshouldanentrepreneuruseinthevariousphasesofthecompany?Howcanyoudevelopyourself?Finally,whatknowledgeisneededinentrepreneurship?
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Two partsThisbookcontainstwoparts.Thefirstpartwillbeaboutthepracticalstoriesofbusinessowners,self-employedindividuals,andsuccessfulentrepreneurs.Thisistheeasiestparttoread,whichiswhyIstartwithit.
Thesecondpartisbackgroundinformation,butitisasshortaspossibleandwritteninasimplemanner.Itisimportanttounderstandwhatentrepreneurshipisandwhichcompetencesareneededtobecomesuccessful.Forreadability,thetheoryisenlivenedwithentertaininganecdotes,explanations,examplesfrompractice,etc.Thesecanberecognizedeasilywiththesymbolsbelow.
ResearchK
now
how
explanat
ions
Know w
hat
Quotes How to
dev
elop
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the limit anymoreis not
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pracTIces
the limit anymore
You can go much further!
is not
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PRACTICES Practical examples
Self-employed Alfonso
Alfonsois41yearsyoungandhasstartedhiscompanyattheageof33,whenthe internetreachedfeverpitch.Alfonsoliveswithhispartnerinthenorthofthecountry, isnotmarriedandhasnochildren.BasedontheEntrepreneurScan(discussedlater inthisbook),theentrepreneurialprofileofAlfonsoisasfollows:
“Theeconomywasonlygoingforward;theopportunitieswereendless.”Alfonsorecallsthetimehestartedhiscompanywithsomenostalgia.“Iwasworkingatacompanythatdesignedandrealizedwebsites.Wesattherewithninemenandwomen,mostofthemveryyoung,andworkliterallycamepouringin.ItisnotasifIalwayswantedtobe anentrepreneur,orthatIwaswaitingfortherighttimesotospeak.Idonotcomefromafamilyofentrepreneurs.However,twofriendsofmineareself-employed,inavery differentway:oneisorganizationalconsultantandtheotherajewelrystore. Thesimilaritybetweenthetwoisthattheyareboth(still)successful.”
Need for achievementAlfonsodidnothavethedreamofbecominganentrepreneur.Itwasnotencouragedfromchildhood,butnotdiscouragedeither.Hence,itsayssomethingabouttheperformanceorientationofAlfonso.Themotivationtostartabusinesswasnotstrong,anddidnotbecomestrongereither.ThewordsofAlfonsodonotspeakofarealdesiretomakesomethingofit.Slightlystoicallyandwithnostalgia,herecallshisstartasanentrepreneur.Therewasnofightingspiritinhimtomakesomethingofit,tobesuccessful.Severalcompanieshavegonebankruptbeforetheyweresuccessful.Thatsayssomethingabouttheirmotivation,abouttheirstrongdesiretoperformwell.
norm profile professional servicesprofile alfons pioneer salesperson managerspecialist
need for achievement
need for autonomy
need for power
social orientation
self belief
endurance
risk taking
market awareness
creativity
flexibility
specialist: 56%
salesperson: 6%
manager: 25%pioneer: 13%
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“TherewasnotaparticularmomentwhenIsuddenlysawthelightandwantedtobeself-employed.Ithappenedslowly,partlyduetothetremendousgrowthoftheInternetmarket,andpartlybecauseIwasnothappywithhowmybosstreatedhisstaff,includingme.Itwasexpectedofusthatweworkedveryhard,thatwecontinuedworkingintheeveningsandweekendsasneeded.Donotthinktherewasanyappreciationforthat,notincash,andnotwithwordseither.Thatisfrustrating,becauseyoudowanttofeelappreciationforallyourefforts.”
“ThingsgotgoingbecauseofthestoriesofmyfriendsabouttheirsuccessesandbecauseIstartedtalkingabout‘myownbusiness’withacolleagueatsomepoint.Wetalkedaboutitmoreandmore,andmadeeachotherenthusiastic.Theplansgraduallybecamemoreconcreteandinevitably,themomentarrivedthatwedecidedonastartdate.Wemadeabusinessplanwhilewestillhadourjobs.WewantedtostartacompanythatwouldhelpeveryoneontheirwayontheInternet,bothindividualsandbusinesses.Wewantedakindofaccessiblestore,whereyoucouldwalkinwithallyourquestionsaboutInternet.HowdoIgetaconnection,whichdevicesdoIneed,isawebsite somethingforme?Andobviously,wewantedtobuildthatwebsite.”
“Rightbeforeweweretowriteourletterofresignation,mycolleaguedroppedout. Heapparentlydidnothavethecourageandstartedtoapplyforjobs.Iperseveredandstartedonmyown.ThetroublewasthatIcouldnolongerstartthewayIhadimagined. Ithadtohappenonasmallerscale.Luckily,Iwasabletoborrowmoneyfrommyfamily,whichwasenoughtobuyapropercomputerandthenecessaryprograms. ThatishowIbecameanentrepreneur.”
MotivationAlfonsoclearlyhadexternallydrivenmotivestostarthisownbusiness.Itwasnotadeep-rooteddesire;hisannoyingbossandsuccessfulfriendsactuallymadehimconsiderit.Inotherwords,theenvironmentexposedhimtoentrepreneurship.
However,yourcompanionsuddenlyquittingandyoudecidingtocontinue,thatdoessaysomethingofAlfonso.Nevertheless,becauseitwasnotalong-cherishedwishoraninternallyfeltdesire,thequestioniswhetherheshouldhavedoneit.Afterall,hecouldnotevenstartthewayhehadimagined.
“Afterthestart,Iquicklyhadsomeassignments.Theywerenotverybigones,but sufficienttoprovidemyownincome.Theorderscamefromdifferentdirections. Icouldnotaffordtosay‘Ionlycatertothataudience.’Ipreferredgrabbingeverythingthatcamealong.Especiallyinthefirstyear,Iwasluckythattherewasanother assignmentaftereachassignment.Wheretheycamefrom?Purelybywordofmouth,Ididnotdoanythingwithadvertising.Well,Ionceplacedanadvertisementinsomekindofbusinessguide,butIshouldnothavedonesoinhindsight.Itcostsalotof moneyanditeventuallydidnotpaythebills.”
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PRACTICES “Afterthefirstyear,thenumberofassignmentstobuildawebsitewasdecliningstrongly.
Theso-called“Internetbubble”burstandeveryonesuddenlybecamemuchmorecautious.Idefinitelysufferedfromthat,becauseIjusthadtoolittleworktoprovideadecentincomeatthattime.Ihadtolooktwiceateverypenny.Howdoyougetassignmentsatsuchamoment?Therewerecompetitorswhoworkedwithstudentswhobuiltwebsitesforincrediblylowprices.Icouldnotcompetewiththemofcourse,sowhatwasIsupposedtodo?Forthebigboysinthemarket,Iwasobviouslynotacompetitoreither.TheycouldaccomplishthingstechnicallythatIcouldneveraccomplishbymyself.”
Market awarenessAlfonsohasnotformedapictureofhismarketoroftheneedsofhiscustomers.Withoutvisiononthemarketandhisfuture,hehassurrenderedtochance.Thisusuallyworksoutinthebeginning,asyouseeinmorestart-ups,becauseyoustillarerelativelynewandpeoplegrantyouajob.Nevertheless,itgoesdownhillafterawhile,asitisnolongernew.ForAlfonsotoo,hefacestheharshreality.Insuchcase,ifyoudonothaveafocusortarget,thereisnotmuchyoucando.Itisthennouseadvertisingeither;indeed,itisawasteofmoney.
“Allinall,itwascleartomethatmyserviceswereatthatawkwardage.WhenIwasgoingthroughalongerperiodwithoutjobs,Imetabusinessconsultant,whichwasprobablynotacoincidence.Inthesameperiod,Icouldborrowsomemoneyagain,soIcouldcontinueforafewmonths.IfiguredIcouldtakesometimetoorientmyselfagain.However,Ihavehadmanyconversationswiththeconsultant,butIcannotsaythatIwasbeginningtoseethelightquickly.
Yes,overtime,itbecameclearthatIwouldhavetofocusonanichemarket.Iwouldhavetobecomereallygoodatmakingwebsitesforlocalauthoritiesforexample,orsitesformovietheatersandmoviehouses.Actually,everythingwasokay,aslongasIwasfocusing.”
KnowledgePreciselybecauseitwasnotgoingwell,Alfonsodecidedtotalktoabusinessadvisor.Focuswasthemostimportantadvice.Alfonsoactuallyknewthis,buthehasnotacteduponitfromthebeginning.Nowitfallsshort,andhehasremainedinvisibletothemarketatthesametime.Abusinessadvisorcannotmakechocolatefromsomethingthatishardlycocoa(yet)either.Itfirsthastobecocoa.Onlywhenitishighqualityandpurecocoa,itcanbeturnedintochocolate.Alfonsomustbecomeexceptionallygoodatsomething.TheproblemforAlfonsoishowhethenappliesthatknowledgetohisownsituation.Onlyinretrospect,itwasobviousthathecouldnotprovidehisownincomebyonlybuildingwebsites,nomatterhoweasyaccessible.Hecouldhaveseenthiscomingfromthebeginning.
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“Becauseoftheseconsultations,itwasobvioustomethatIcouldnotorhardlyprovidemyownincomebybuildingwebsites.Guidingorganizationswantingtoworkwithawebbuilderwasafairlyunexploredareathough.Icouldformulatealistofdemandsforthem,assisttheminchoosingabuilder,andguidetheactualconstruction. Ihadalreadydonesomethinglikethisonce,althoughthefinalphaseofthatjobwaseventuallydropped,becausetheydecidedtodothatinternally.Still,howdoyou approachsomethinglikethat?Ididnothavemoneytoadvertise,soithadtocomefromword-of-mouthadvertisingmainly.Inhindsight,IcansaythatIhavedonetoolittletogetnewcustomers.Forexample,Ididnotdomuchwithnetworking.HowcouldI? Icanhardlygotoallkindsofpartieswithoutbeinginvited.Moreover,Ihateit:allthosepeopletogethertryingtofindwork.Thatdoesnotsuitme;Idonotfeelathomethere.”
Social orientationThesocialorientationofAlfonsoisinsufficient.Hedoesnotlikepartiesand certainlynotbeingtheretopromotehisbusinessorratherhimself. Networkingisadirtywordinhiseyes.Nevertheless,ashesaid,hisbusinessrunsonword-of-mouthadvertising.Afterall,thisprovidedhimwithjobsatthestartandthusrevenue.Now,heisolateshimselfandhecanonlyhopeforagood productthatsellsitself,orthathiscustomersbringinnewcustomers.
“WhatelseIhavedonetoturnthetide?Well,nowthatyouaskmedirectly...Istartedfixingupmyownwebsite.Afriendthatisadesignerredesignedmycorporatedesign,onwhichIbasedmynewwebsite.Ihaveobviouslymodifiedthetextstoo,puttingemphasisonadviceandguidance.However,visitorsdonotcometoyourwebsitenaturally,soitisnotasifthejobscamepouringin.Ihavealsomadesomewebsitesviamyownnetwork.Unfortunately,thatwasforsmallbusinessesandforpeopleintheartssector.Thatmeansasmallbudgetandlittleincomeforme.”
“Atthismoment,Iamapplyingforjobs.Ihaveto,becauseIneedmoney.Eventhatisnoteasy,becausetherearenotsomanyjobs,especiallynotinthesectorthatIlike.Ifthisapplyingdoesnotworkout,Ihonestlydonotknowwhattodonext.Iprefertoremainself-employed,butIdonotknowhowIcanbringinenoughorders.IfIhavetotakethelastfewyearsasabenchmark,itdoesnotworkoutanyway.ItwouldbebestifIcanworksomewheretwoorthreedaysaweek,forexample,andstillbuildsomewebsitestheotherdays.Whataremychances?Idonotknow.IjustknowthatIhaveto,otherwiseitisover.”
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PRACTICES
Perseverance Alfonsodoeshaveperseverance.Hehasproventhatwhenhispartnersuddenlydroppedoutduringpreparation.AlthoughAlfonsocouldnotstartthecompanythewaytheyhadenvisionedtogether,hepersisted.Evennow,whenthathasbecomemoredifficultandthesurvivalchancesofhiscompanyaresmaller,hepreferstocontinue.Hemighthavetotakeanadditionaljobforawhiletodoso,butthatdoesnotmeanitistheend.Itisnotoveruntilhequits.Hemightevengetnewinspirationandmotivationbydoingsomethingelseforawhile–becausehemissedthisatthestart–andputhisbacktoitoncerefreshedandfullofcourage.Hewouldnotbethefirstwhoeventuallybecameamillionairebecauseofit.
Alfonsoisself-employed.Afterall,heprovideshisownincome,whetheritisgoingwellornot.Hehasdonesoforanumberofyearswithupsanddowns. Hedidnotwantmorethanthateither.
Moreover,hedidnotseehowhecouldachievethat.There isnothingwrongwiththat.Ifyoudonotwanttogrow,youshouldnotbejudgedforit.However,youcannotcallhim enterprising,andthusanentrepreneur.
It all startswith a dream!
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Practical examples
Business owner Dirk
Dirkisnow54.TogetherwithhiswifeAnna,hehasbeenrunningthecompanyforover15years.DirkandAnnaaremarriedandhavetwodaughters.Bothdaughtersdonotwanttobeanentrepreneur;thistheyknowforsure.DirkandAnnaliveinPoland andtheyareplanningtostayandruntheirbusinessforalongtime.Eventhoughthecompanyhasgonethroughdifficulties,theystillenjoyit.BasedontheE-Scan (discussedlaterinthisbook),theentrepreneurialprofileofDirklooksasfollows:
“IhavehadmanydifferentjobsbeforeIstartedformyself.Myfirstjobwasthehelper ofthemilkman,whonotentirelycoincidentallywasmyfather.Aftermanydetours, Ifinallyendedupatalargeconsultingfirmfocusedonenvironmentalandconstructionadvice,whichmeansmuchtechnique.However,theyalsohadtheirowndesign department,whichiswhereIendedup.Iwasluckythattheywereflexibleabouttakinguptraining.Inthatperiod,Istudiedgraphicdesignattheartacademy.IlearnedalotmorethanIcoulduseinmyjob,becauseonedidnotgetalotofcreativefreedom there.Astudioheadknewexactlywhatwasrightandwhatwasnot,soalltherewas todoformewastheexecutivepart.”
profile dirk norm profile general
pioneer: 56%
manager: 6%
salesperson: 25%
specialist: 13%
need for achievement
need for autonomy
need for power
social orientation
self belief
endurance
risk taking
market awareness
creativity
flexibility
pioneer salesperson managerspecialist
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PRACTICES
CreativityDirkhasalotofcreativity,butthatonlycameoutlater.Helpinghisfatherwiththefarmandthemanydetourshavedemandednothingofhiscreativity.Wouldsuchacreativepersonashimnotcomeupwiththathimself?No,thatdoesnothavetobethecase,justasitwasnotwithDirk.Sometimes,anenvironmentcanbeparalyzingtoyourtalents,soyouleavethemuntappedandyouarenot challengedtousethem.Onlywhentherightenvironmentwasthere,Dirktappedhiscreativityandhetookupcreativetrainingafterhours.Thiswasoneimportantmomentthough,becausethebasisofhisworkmanshipwasinthetraining.However,workmanshipisnoentrepreneurship.
“Overtime,Inoticedthatweweredoinglessandlesswork.Consequently,Iwasnotsurprisedwhenthestudiowasclosed.Iwasobviouslythrownoutofwork,whichformewasthetimetostartformyself.Iwasabitolder;wheredotheywantyouthen? Everyoneislookingfortheso-called‘youngguns,’whichIwasnotanymore.Iamatypicalexampleofa‘forcedstarter.’”
MotivationDirkisforcedstarterandthusexternallydriventoentrepreneurship.Itwasnotadeeperdesire,somethinghehadalwayswanted.Evenhisfatherhasnotservedasanexample.Hadhenointernallydrivenmotiveatall?Hiscreativitywillhaveplayedaroleinhischoicetobecomeanentrepreneur,aswellashisneedforfreedom.Thiscanbetracedbacktohisneedforindependence:takingcontrolofhisideasinsteadofjustexecutingwhathisbosslikes.Thisisnotthesameasindependence,becausethatisnotprevailinginDirk.Hehasnostrongneedto beonhisown;onthecontrary,helovesbeingandworkingtogetherwithothers.Thiscanbeseenlateron.
“Istartedwritingabusinessplan.Youareforcedtothinkaboutwhatyouwanttodoandhowyouwanttodoit.Thishasputmeontherighttrack.Myfatherhashelpedme,becausehehadentrepreneurialexperienceafterall.IalreadyhadahousewitharoomthatIcouldeasilyturnintoanoffice.Becausemyformeremployergavemesomejobs,thestartwasnotreallyaproblem.Well,Ididnothavemoney,sothathadtobearranged.Thebankwasnotreallyexcited,butaftermucheffort,Iendedupwithalittlecredittobuysomeequipment.Iwasdeterminedtostartproperly,withaprofessionallook,notfromabackroominamakeshiftmanner.”
“Iknewnothingaboutacquisition;Istilldonotbytheway.Ihavethereforestartedverymodestly;IcreatedafolderinwhichIintroducedmyself,andIputitinthemailboxesofbusinessesandshopsinmyarea.Afterwards,IcalledthemtoseeifIcouldgetanappointment.Itworked!Ithasreallybeenmyonlyacquisition.
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InthethirteenyearsthatIamworking,Ihaveneverdoneanythingaboutitanymore.Ithasneverbeenmyambitiontohavealargecompany.MywifeandIrunthecompanytogether.Aslongaswecanliveoffofit,Ithinkitisokay.Wedoworkalotwithothers,withfreelancerswhoallhavetheirownspecialty.Teamingupwithotherssuitsmefine.Iamstubborn,butIthinkeveryentrepreneuris.However,IdonothavesuchabigegothatIcannotputitaside.Thereisalwayssomeonewhocandothingsbetterthanme.Youshouldnotinsistupondoingityourselfinthosecases;youshouldratherusetheotherperson.Frankly,Idonothavethecouragetostandonmyauthority.IletmyselfbepersuadedquicklyandagreemorequicklythanIlike.Ithasevencostmerevenue.Becauseapartnerwantedtohaveitallhisway,ajobweworkedontogetherfailed. Wehavenotgottentheextraworkthatwaspromisedusifweweretodoagoodjob. Ididnotrealizeitatthattime,butinretrospect,Ifeltlikeanidiot.Well,Iwillprobablynotteamupwiththatpartneranymore.Well,maybeifhecomeswithaverynicejob. Itmightbeapossibility,becausehedoesitquitewellandhehasestablishedquitealargebusiness.”
Need for Achievement and DominanceDirkhasanaverageneedforAchievement.Hedoeshavethedesiretodothingsrightandtodothemalittlebettereverytimeaswell.Nevertheless,thecompanydoesnothavetobebigaccordingtohim. Hedoesnotsethisgoalshigh,sohecanworkonthemrelaxed.Heenjoystheprocess,evenmorethantheaccomplishmentofahighergoal.Thereisnothingwrongwiththatofcourse;heissuccessfulifhereacheshisgoal,whichisgettingpleasurefromthework.Thatpleasureiscreatedpartlybyworkingwithothers.Thegoodrelationshipwithothersisparamount.Yethisdominanceplaystricksonhiminthis.Heappearsnottohavetheneedtoputhismarkonsomething.Heratherfollowstheother,eventhoughheactuallythinksitshouldbedifferent.Hehasnothadtheabilitytoopposeit,ortomakeachoice.Heisnotevenveryparticularwithhisownprinciples.Hedoesnothavethecouragetotakeaposition onthatpointeither.Hewillprobablyworkwiththepartnermentionedagain,despitewhathappened.Strongeractionhadearnedhimmoresales.
“Ihavealwaysreliedonmycommonsenseandonmyaccountant,whomIhavehiredimmediatelyafterthestart.Idolikekeepingtherecords:keepingtrackofhours,seeingwhetherajobhasbeenprofitableornot.Thatautomaticallymakesyouwiser.Ohwell,maybeIhaveinheritedthatpartfrommyfather,whowasalwaysathomecountingtoseeifthingsweregoingwell.”
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PRACTICES
Thinking style of the PioneerThethinkingstyleofDirkispre-eminentlythatofapioneer.Thisisreflectedin hishighscoreoncreativitytoo.However,heindicatesthathelikesbusinessadministration.Thisfitsthethinkingstyleofaspecialistbetter.Thisiscorrect,becauseitusedtobedifferentwithDirk.Dirkhasgottenthehangofit,becausethesupportofthebookkeeperhasmadehimrealizethatthisisanimportantaspectofdoingbusiness.However,blindlytrustingyourbookkeeperisnotsmart.Oneday,youmightfindoutthatyourbankaccounthasbeenplundered.Throughpractice,hehaslearnedhowtokeepalargepartoftherecordshimselfand,moreimportantly,howtouseitforfuturedecisions.Dirkmighthavedonelittleornoacquisition,buthehasalwaysensuredthatcustomerspaidontime,andthathetimelyscorednewjobswithhisexistingcustomersthemomentitappearedasthoughtherewasnotgoingtobeenoughwork.Nowthatisrunningabusiness inacontrolledway.
“Howitisthatithasgonewellwithoutdoingacquisitionalltheseyears?Maybewehavebeenluckywiththeperiodinwhichwestarted.Itisallmuchmorebusinesslikenowthantenyearsago.Inoticedthattoo,becausepricehasbecomemuchmoreimportantforclients.Thejobsnolongercomeinbecauseyouaresuchaniceguy,whichpreviouslywasthecase.Ialsothinkthatwewillsoonbedoingacquisitionagainforthefirsttimesincethestart.Therefore,Iamgoingtomakeanotherbrochure,senditandmakingfollow-upcalls,asIdidbefore.Iwonderwhetherthatstillworkstoday.MaybeIneed tocallthatonepartnerthatmadeuslosethatnicejobagain.”
“Oh,Idonotreallyseemyselfasanentrepreneur.Forexample,Idonotlikethehardbusinessworld.Dressingneatlyandsmoothtalkingarenotforme.Iconsequentlymainlylookformycontactsintheserviceindustry.”
Dirkisabusinessowner.Hehasbeenrunninghisownbusinesswithhiswife foryears,nomatterhowwellorbaditisgoing.Yettheydonothavetheneed orambitionforalargecompany.Again,thereisnothingwrongwiththat.Itisa choice,butyoucannotreallycallthementrepreneurial.Theyarebusinessowners,butnotentrepreneurial.
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Practical examples
Entrepreneur André
Andréisnow44yearsyoung.Hehasstartedhisfirstcompanyjustafterfinishingschool.Andréhasbeenmarriedandhasonesonfromthatmarriage.HenowlivesinSouthAfricawithhisnewandyoungergirlfriend.Theyliveinabeautifulhouseonthewaterfront,whichtheyclearlyenjoy.BasedontheEntrepreneurScan(discussedlater inthisbook),theentrepreneurialprofileofAndrélooksasfollows:
“MybrotheractuallymadesurethatIbecameanentrepreneur.Thatwasnotreallyasuccess;forthatmatter,youcouldsaythatImadeafalsestart.Hehadactuallygonebankruptwithhiscompany,buthewantedanewcompanynonetheless.Hedidhaveagoodturnover,butthecostsweretoohigh.Youcouldalsosaythathehadtoolittleturnoverforthecoststhathemade.Wethenstartedtogether,butwiththecompanyonmyname.Wehavekeptthatupforlessthanthreeyears;then,thenextbankruptcywasafact.Wedidpaymuchattentiontothecosts,butwestillmadetoolittlerevenue.Still,Idonotthinkitwasthereasonforthebankruptcy.Wewerenotinagreementwitheachother,causingustoexploit(sales)opportunitiesinsufficiently.Ihavepersonallyexperiencedwhatitisliketoendupbeingself-employedandbankrupt.Yougobankruptpersonally,soyouliterallyhavenothing.”
profile andré norm profile hospitality
pioneer: 63%
manager: 6%
salesperson: 13%
specialist: 19%
need for achievement
need for autonomy
need for power
social orientation
self belief
endurance
risk taking
market awareness
creativity
flexibility
pioneer salesperson managerspecialist
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PRACTICES
Risk takingAndréhasahighriskappetite.Hisriskappetiteisevenslightlytoohigh,thoughhisbrotherscoresevenhigher.Bothdidnotseetherisksofstartingabusinesstogether.Theyhavenotevenconsideredthem.Ofcourse,theadvantageofthisisthatyousimplystart.Otherwise,theymightneverhavestarted.Entrepreneurshipismostlyjustdoing.Somenaivetyishealthyforentrepreneurship.Youcontinuetoseeopportunities,whichiswhereentrepreneurshipstartsanyway.Thedisadvantageisthatyoudonotseethepitfallsandconsequently,youfallforthem.ThathashappenedtoAndréandhisbrothertoo,anditwillhappenmoreoften.YetAndréhaslearnedfromwhatwentwrongthefirsttime.Thecostsweretoohigh,sotheyhadtobecontrolled.Thatworkedout,butAndréforgottocheckwhetherheandhisbrotherwouldbeabletoworktogetherwell.Inretrospect,AndrérealizedthathisbrotheronlyneededAndréforthepurposeofcontinuingthepreviouslybankrupt companyinhisname.Andréactuallyknewthisbeforehand,buttheopportunitywasstaringathim.
“Theworstthingwasthatyoucannotstartagaininsuchacase.Mytrusteeinbankruptcywantedmetogointothewelfaresystem,butIabsolutelydidnotwantthat!Despitethebankruptcy,entrepreneurshipattractedmeandIwantednothingmorethantostartoveragain.Ithusmovedtoanothercountrytosetupabusinessthere.Ihavetradedinanythingandeverything,includingcomputerequipmentandsneakers,justtomakesureIwouldpullthrough.Fortunately,thatwentveryquicklyandverywell,sothebankruptcycasewasclosedsoon.Itevenwentsowellthatmywealthwasestimatedatafewmillion. Averydifferentlifecame.Ihaveledalooselife.”
PerseveranceAndréhasperseverance.Abankruptcywillalwaysaffectyouadversely.Ifyoureallywantsomething,yougetitdone.Hedidnotwantsocialwelfare;hewantedtorunacompany.EntrepreneurshipattractedhimtosuchanextentthatAndrémovedtoanothercountry.Manyotherswouldhaveacceptedthesituation.
“Imetmywifeduringthattime.Shewasthemanagerofarestaurantandwantedtostartherownbusiness.Weboughtarun-downpubandturneditintoarestaurant. Wehadsomeinitialproblemsinthefirstyear,butafterwards,therewasnostoppingit.Nevertheless,Iamthetypethatlikessomethingforafewyearsandthenwantstodosomethingelse.StartingsomethinginFranceseemedfun,sowesoldthelot,the restaurantandourhouse,andwewentlookingforsomethingdecent.”
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FlexibilityAndréisflexible.Itdoesnotmattertohimwhereherunshisbusiness.Totallyunhinderedbyanyprofessionalknowledgeandexperience,whichhiswifehad,hebuysarestaurantandmasterstheprofession.Hedoessobyprimarilycontinuingtofocusonthepossibilities.Andrébelievesthatsomethingispossible,thathecanrealizeit.Thedownsideofhisflexibilityisthatheisquicklyboredwithsomethingandthatheeasilywantstoworkonanewidea.Thismightnotbesoannoyingforhim,butratherannoyingforhisenvironment.
“Findingsomethingniceworkedout,yetitendedupasafailure.Wehadourownmoneyandweborrowedsomeextratocompletethefinancialpart.However,whenwewerefinallyatthenotaryofficeinFrance,theamountsinthesalescontractsweremuchhigherthanagreed.Theyprobablythoughtthatwewouldsignanyway.’Noway.WegotupanddrovebacktotheNetherlands.Iactuallythoughtthattheywouldcallmeontheway,totellmethatitwasallamisunderstanding,butthatdidnothappen.SoweendedupintheNetherlandswithabagofmoneyandnothingelse.”
“Afterafewdays,wewerecalledbyanacquaintance.Heknewthatacateringbusinesswasforsaleatalargerecreationallake.Hewantedtoknowwhetheritwassomethingforus.Itturnedouttobewhatyoumightsafelycall“longgoneglory,”butweboughtitanyway.Wehadtoworkveryhardtoopenitforthesummerseason.Wemadeit:wewereabletoreceivethefirstguestsinJune.Wedidnotknowwhatwewereinfor.Workwaspouringinandweweremakingsomuchmoney.Ifwewereabletokeepthatupforawhile,wewould‘naturally’makeit.However,thatwasnotthecase:itwasliterallydeadquietinSeptember.Thatiswhenweunderstoodwhythebusinesswasforsale...Coincidentally,Imetamanwholivedattheendofourstreet.HehadbeentheownerofaMichelinstarrestaurantandthoughtitwouldbenicetogiveussomehelp.Asavolunteer,hehashelpedusturnourseasonalbusinessintoarestaurantthatdoesjustaswellinwinterasinsummer.Thatisthekindofluckyouneed,Ithink,bumpingintosuchapersonattherighttime.”
Effectiveness Andréhasconfidence.Well,buying“something”oflonggoneglorytestifiesto hisriskappetiteonceagain.Itmightalsobethistensionofdoingsomething unknownoruncertainthatheneeds.Nevertheless,itisalsoaresultofhis confidenceorbeliefinhisownabilitiestogetthingsdone.Andréisanoptimist.Hebelievedthattherewasasolutiontotheproblem.Thenhemeetssomeonefromtheneighborhoodwhoknowsthesolution.Coincidence?MeetingsomeonewhocanhelphimcouldbetheresultofAndré’scontinuousbeliefinit.Itmightbehardtobelieve,butthatisexactlywhathedid,causingAndrétofindasolution.
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PRACTICES “Therestaurantwasgoingreallywell,butourprivatelifewasnot.MywifeandIdecided
tobreakup,whichalsomeantsayinggoodbyetotherestaurantforme.Ihadmebought outandallIhad(onceagain)wasacar,myclothesandabagofmoney.Meanwhile,Ihadinventedsomethingnice,whichIputonthemarkettogetherwithacommercialpartner.IalsosoldthatpatenttofirsttakeasabbaticalyearandreflectonwhatIwantedtodowiththerestofmylife.ThemomentI‘returned,’someonewhoknewthatahotelwasforsalecalledme.Thatisthewayitgoes.Onceyouareinthatbusiness,theyknowhowtofindyou.Eventually,Iboughtthathotelandthereisnostoppingitnow.Still,Iamthinkingaboutsomethingelse:ahotelinadifferentplace ormaybesomethingcompletelydifferent.Ilikebuildingthings.Forme,thatis entrepreneurship:curiosity,decidingonthingsyourself,pushingyourlimits.Iamalsoasurvivor,Ithink.Ifyoudonothavethespirittokeeptrying,Ithinkyouarenotanentrepreneur.Nevertheless,youshouldalsoknowwhentostopandtakeyourloss.Keeptryingtomealsomeansgivingyouropinionandtakingastandforit.ThatisnottosayIalwaysimposemyownview.Thatissomethingelse.Igivepeoplespacetodothingstheirownway.”
DominanceAndréisdominant.Thatsoundsnegative,butitisusefulforanentrepreneur.Somecallitpigheadedness.Anyway,itmeansstandingupforyouropinionandbeingwillingtofightforit,orkeeptryingasAndrécallsit.However,aswith everythinginlife,anythingwith‘too’infrontofitisnotthatgood.Thesamegoesforcharacteristicsandqualities.Ifyouaretoodominant,itwillstarttoworkagainstyou.Peoplewillfindyoubossyandannoying.Thatmakesitimportanttofindabalancebetweenbeingdominantandsubmissiveoraccommodating.Sometimes,youneedtocontainyourselfwhenyoumightotherwisekeeptryingordominate.Andréhasgraduallylearnedthis.Hehaslearnedfromhimselfthroughothers,whichishowhemanagedtofindabalanceincreasinglybetter.Hewantedtolearn,becausehewantedtorealizehisvision(repeatedly).Inshort,thereisonethingthathasgottenAndréthisfar:bysheerdoing,fallingonhisface,learningfromit,andcontinuing.
CreativityAndréiscreative.Foreveryproblem,hecomesupwithmultiplesolutions.Preciselytheproblemshefacesmakehimthink.Thinkaboutit:arun-downbar,aramshacklecateringbusiness,aninvention.Heseesopportunitiesbybeingcreativeandcomingupwithsolutionsfortheproblemshefaces.Hesawthesolutionsintheproblemsandalreadyenvisionedhowitshouldlook.Itwasreallyjustamatterofworkingonandexecutingwhathehadalreadyconceived,sothateveryonecouldseeit.Hiswifeinitiallydidnotwanttobuythecateringbusinessattherecreationallake.Shedidnotthinkitcouldwork.However,thecontagiousenthusiasmofAndrépersuadedher.Afterawhile,Andréwasboredagain. Wantingtodosomethingdifferentisadisadvantageofacreativespirit. Hiswifedidnotfeellikeitanymoreandstillrunstherestaurant.
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Andréisatrueentrepreneur.Hehasrunseveralandvariousbusinesses.Hehasmadesomecompaniesbigandruinedothers.Yetheisalwaysenterprising:afterabankruptcy,hehasfoundedanothercompany.Hence,heisanentrepreneuratheart.Whetherheisasuccessfulentrepreneurisadifferentmatter.Itisjustwhatyoudefineassuccessful.
Think outside your own box!
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PRACTICES Practical examples
Entrepreneur Bettine
Afterherfirstjob,Bettinestartedherfirstbusiness.Thatwasjustafterher27thbirthday.Now,sheismarriedandhasadaughteroffivewithherhusbandofthesameage. Herhusbandalsohashisownbusiness.TheylivenearMadridandtheyarenotthinkingaboutmoving.BasedontheEntrepreneurScan(discussedlaterinthisbook),the entrepreneurialprofileofBettineisasfollows:
“Iwantedtobeanentrepreneurfromanearlyage.Myfatherwasnotanentrepreneur.Hewasacivilservant,notreallyenterprisingyoumightthink.Still,Ialwaysthought itwasaveryenterprisingman,maybenotsomuchinhiswork,butcertainlyintheafterhours.Therefore,IthinkIgotitfromhim.Wearequitesimilar.Afterall,you cannotbeanentrepreneurineveryprofession.Anyway,IwenttoschoolfirstandIstudiedManagementandLaw.IhonestlyhadnoideawhatexactlyIwantedtodowiththatstudy,butIfounditinteresting.Imustadmitthatstudyingpushedmydesiretobeself-employedintothebackgroundthough. Ifirststartedtoworkatalargebankaftermystudies.Iquicklyencounteredthelimitsofmymanager.Hewantedtokeepmesmall,whileIjustwantedtogrow.Icouldnotstandthisforaverylongtime.Ihaveappliedforadifferentpositionwithinthebank. IthengotamanagerwithwhomIgotalongwell,wholetmegrow.Nevertheless,afterafewyears,Iwasmissingsomething.IlikedwhatIwasdoing,butitwasnotsomethingofme.Entrepreneurshipwasbubblingupinmeagain.”
profile bettine
pioneer: 25%
manager: 38%
salesperson: 19%
specialist: 19%
norm profile retail pioneer salesperson managerspecialist
need for achievement
need for autonomy
need for power
social orientation
self belief
endurance
risk taking
market awareness
creativity
flexibility
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MotivationBettineishighlymotivated.Asalittlegirl,shedreamedofherowncompany,whileitwasnotencouragefromchildhood.
However,astudycoulddeterherfromstartingherownbusiness.Herwork,inwhichshecouldnotgrowfullyandshemissedsomething(thelackofindividualityistheexternallydrivenmotivehere),madehernoticethatshewasnotworkingonherchildhooddream(internallydrivenmotive).
“Entrepreneurship!IdidnotknowwhatIwantedtostartthough.Myownshopsoundedgoodtome,butIhadnoideawhatkindofshop.AsIfocusedonwhatIreallylike, Iknew:abeadstore.Theshopshouldbecozywithaniceatmosphericdecorandcustomersshouldbeabletodesignandassembletheirownbeadnecklace.Mydreamwasachainofbeadstoresthroughoutthecountry.Iwaswellpreparedandhadwrittenabusinessplan.Thatistheadvantageofmystudies.Yet,themomentIactuallyhadtogothroughwithit–signingthelease–Ichoked.Ibegantodoubt:whatifitdoesnotworkout,whatshouldIdothen?CanIactuallydothis?WhatdoIknowaboutbeadsandentrepreneurship?Ibrokeoutintoacoldsweat.Myconfidencefelltoanevendeeperlevelthanitalreadywas.Isufferedfromthismoreoften.Idecidedtostartitwithsomeoneelse.Itsoundedgoodtoagoodfriendofmine,Anna,andshedidnothavetothinkforlong.Westartedtogether.” “Thebeginningwasgreat.Thecompanywentwellthefirstyearanditsrevenuegrew,eventhoughIdidnotfindthatthemostimportantthing.Thefeelingoffreedom,justdoingwhatyouwant,feltgreat.Ofcourse,Ihadmyduties:beingintheshop,stocking,keepingtherecords,etc.;thisisallpartofit.ThiswaswhatIwanted.Iwasreallymotivatedandhadenergyfortwo.Wegotverypositivereactionsfromourcustomers,whobroughtinnewcustomersthroughword-of-mouth.Thefirstfewyears,wedidnottakemuchincomefromit,buttheprognosesweregood.Ikepttrackofthose.Iamanorganizerforthatmatter,andIactuallylikebookkeeping.Itallowsyoutoseehowyourbusinessisdoing.Youshouldknowthatasanentrepreneur,Ithink.Ifyoucannotdoityourselforyoudonotlikeit,youshouldoutsourceit.Youshouldnotcutbackonthat,becauseitalwayspaysforitself.Annawantedtogetahigherincomefromthecompany.Ithoughtitwasimportantthatwewerepayingbacktheloanwehadgottenfrommyparentsandthebankasquicklyaspossible.Annathoughtsodifferently(itappearedlaterthatmostlyherboyfriendthoughtso).Wehaddifferencesofopinionandmorefollowedquickly.Ourcollaborationbecameawkward,whileIsurelydidmost.Shewasgoodwithcustomersandalwaysknewhowtocreateawarmatmosphereinthestore,butIsurelywasthedrivingforce.AfterIhadtalkedtootherpeopleaboutwhattodoinsuchasituation,Imusteredcourageandmadeheraproposal.Iwasafraiditwouldendourfriendship.Aftermuchbickering,especiallywithherboyfriend,Ihadtobuyherout.
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PRACTICES Ithoughtthepricewastoohigh,givenhereffortscomparedwithmine.Ithoughtitwas
unjustified,butsawnootherchoice.Iactuallystillhateit.Ourfriendshipisovertoo.Itmadememuchmorebusinesslikethough.”
Independence and EffectivenessBettinescoredloweronindependence.Shedidnotscorehighoneffective-nesseither.Eventhoughitwasherdream,herideaandherpreparation,thebreakthroughonlycamewhenherfriendAnnekeparticipated.Thereisnothingwrongwithstartingabusinesswithsomeoneelse.Onthecontrary,youoftenneedothers.Hence,agoodbusinesspartnerworksconducivetothegrowthofthecompany.Nevertheless,foryoutobeabletoworktogetherwellwithsomeone,whatorwhoworksout?Youhavetomakesurethatyougotogetherinapersonalandbusinesssense.InBettine’scase,Annawascertainlynotamatch.Bettineactuallyfeltthat,butshewasafraidtoactaccordingly.Inpersonalterms,AnnawasnotasenterprisingasBettine;sheuncriticallyfollowedBettinein everythingshesuggested.Youmightexpectthatfromanemployee,butnotfroma(co-)entrepreneur.Inbusinessterms,AnnasupplementedBettineinnothing.Bettinedidthepurchasing,kepttherecordsetc.andactuallydidthecreative designsofnecklacesaswell.OnecanconcludethatAnnawasnottheideal partner,whichhascostBettinealotofmoneyandafriendship.ShenonethelesssawitthroughandboughtAnnaout.Thoseultimatelyaretheduesshepaid.
success
The key
to
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“Idecidedtofocusonthegrowthofmyowncompany.Afterall,mydreamwasanationwidechainofnicebeadsstores.Initially,Iensuredthatmyfirststoreyieldedagoodreturnwithouthavingtobepresentmyself.Onlythen,Istartedasecondstoreinanothercity.Ihaveevenmovedforthat. Mybusinessismymainpriority;Iwilldoanythingforit.Everytimethatstoreranwell,Istartedthenext.Ididnotmoveeverytimethough.IboughtanicecarandsoIdrivetoallthestores.Meanwhile,IhavesevenstoresthroughoutSpain.Ialsohaveawebshopnowadays,whichisgoinggreat.Inthewebshop,customerscandesignnecklacesonline;afterthat,wemakethemandmailthemtothecustomers.Wenowhaveourregularclientele.SomeevenliveinJapanandChina,andhaveitsentthere.Ithinkthatissocool.”
Thinking style of the Manager-PioneerBettinemainlyhasthethinkingstyleofamanager.Shelikesorganizingand structuringthecompany.Shemightevenpreferthattothecreativeelement inthedesignofbeadednecklaces.
Inastructuredandplannedway,sheworksonthegrowthofherbusiness. Shedoessoverycontrolledandsensible.Thechoicetoworkwithsalaried employeesinsteadoffranchise(co-ownerofthestore)alsotestifiestoherthinkingstyleofamanager.Shelikestobeincontrol,especiallyafterherexperiencewithAnna,whoco-ownedthestorebutdidlittlework.Abeadstoreismorethanjusthavingfunhelpingcustomersbuyanecklaceinthestore.
“Whataremyplansforthefuture?Iwanttogrowto13storesintheNetherlandswithinfouryears.Itisnotafranchiseconcept,asIdonotreallybelieveinthat.Forinstance,everystoreisadaptedtothelocalcharacteristicsofthecity.Insomestores,wesellothernecklaces,butthedifferencemainlyliesinthevariousaccessories.Allcolleaguesareemployed,andIamthesoleshareholder.IamcontemplatingwhetherIwanttogoabroad,butIamactuallyleaningtowardsno.Wealreadycoverforeigndemandinthewebshop.Ihaveplentyofotherideas,butIfirstwanttofocusonmycurrentactivities,beforeIdiveintosomethingelse.”
Need for AchievementBettinehasambitionandvision.Sheisveryperformance-orientedandshewouldliketogrow.Withaclearandconcretevisioninmind,shehasmappedoutherstrategy.Itsmostimportantcharacteristicisthatshehasmadechoices. Sheknowsexactlywhatshedoesanddoesnotwant.Thatmakesiteasiertoresistotheropportunitiesandideas.Freedomisthebeautyofentrepreneurship,asBettineandmanyotherentrepreneurssay.Thedownsideofthisfreedomisthatentrepreneursareinclinedtoseizeanyopportunityortostartworkingoneveryidea.Irrespectiveofthefactwhetheritisagoodopportunityoragoodidea,themainquestioniswhetheritfitswithinthevisionthatyouhave.DuetotheclearvisionthatBettinehas,shecaneasilyputideasasideorpostponethem.Thisway,shefirstrealizeswhatsheintendedtorealize,whichisverysmartbusinesswise.
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PRACTICES “WhathaveIlearnedfromitandwhattipsdoIhaveforstartingbusinessowners?
Ithinkitisimportantthatyoudowhatyoutrulylike,becausethatcreatesthemotivationtobeabletoseeitthroughduringtoughtimes.AnotherimportantlessonIhavelearnedisthatyoumustrelyonyourownstrength:yourperseveranceandcreativity.Ifyouareindeedmotivated,youalsolearntoseethingsthroughandtobemorecreative.Forinstance,Iwasnotveryindependenteither.Ioftenaskedotherswhattodo,while Ialreadyknewtheanswer.
Iwasafraidtotrustit.Iwaslookingforconfirmation,andstillcontinuedtodoubt. Ihavestoppedthathabit.Ihavelearnedtotrustmyselfmuchmore.Inthatrespect,entrepreneurshipreallyoffersthebestschool,becauseeverythingyoudoisreflectedinyourwalletimmediately.Ididnotlikethatatallinthebeginning,butIstartedseeingitasagameatsomepoint.Entrepreneurshipisafungame.Justdoit,andthenthinkcarefullyabouthowyoucandoitevenbetter.Seeifthatwhichyouhadcomeupwithactuallyworks.Thatgivesmeathrilleverytime.”
From self-employed to entrepreneurBettinewashighlymotivatedtobeanentrepreneur.Thatinternallydriven motivationhasprovenimportant,especiallyattimeswhenshehadsetbacks. Eventhoughnoteverysetbackisdescribedinthesummaryoftheinterviewwithher,shecertainlyhadthematbothpersonalandbusinesslevel.Shehaslearnedtodealwiththem,whichhasmadeherstronger.Shehaslearnedfromhermistakes,becauseshehadavisionthatshewantedtoachieve. Shewoulddoanythingforit.Wasshealreadycompetentfromthebeginning,whenshestartedthecompany?No.Actually,shedidnotscorehighonthemajorcharacteristicsandqualitiesofentrepreneurship.Yet,throughhardworkandwantingtolearn,especiallybydoingandreflecting(thinkingaboutthestepsyouhavetakenafterwardsandlearningfromthem),shehasbecomeanentrepreneur:anenterprisingentrepreneur.Thedreamofachainofbeadsstoreswastherefromthebeginning,butshehadthecourageto(continueto)striveforthisdream.AsWaltDisneysaiditsobeautifully:“Allourdreamscancometrue,ifwehavethecouragetopursuethem.”
Bettineisanentrepreneur.Shehasaclearvisionofwhereshewantstogo.Shewantedtobeanentrepreneursincechildhood.Shebecametrulyentrepreneurialasshestartedabusinessandcontinuedtochallengeherselfendlessly.Herstrongentrepreneurialprofilehashelpedwiththat.
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spectacles
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WhaT Is enTrepreneurshIp? chaptEr 1
Look at the worldthrough different
spectacles
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WHATISENTR
EPREN
EURSH
IP?
1 What is Entrepreneurship?
Entrepreneurshipisimportantforasociety;ifpeopleembarkonsomething,itmeansthatnewinitiativesaredevelopedtomakelifebetter,easierormorefun.Nevertheless,whatisentrepreneurshipexactly?Muchhasbeenwrittenonentrepreneurshipinthecourseoftimeandtherearemanydifferentdefinitions.Here,Iespeciallywanttogivemydefinitionofentrepreneurship:whatisitandwhatisitnot?Itisimportantforthisbooktousethesameunderstandingforthecharacteristicsandqualities,whicharebasedonitandwhicharediscussedinthisbook.
Thesocietyneedsentrepreneurs.SMEsarethejobengineofanyeconomy. Morethanhalfisfreelancer(self-employed).Nevertheless,isthefreelanceranentrepreneur?Opinionsdifferonthis.Oneatleastprovidesone’sownincome.Onemighthelpothersthatareself-employedwiththeirincomethroughone’sentrepreneurialattitude.Thatisnot(yet)visiblethough.
Severalresearcherslookatentrepreneurshipfroman‘economic’pointofview. Theydefineentrepreneurshipasthecreationofaneworganization,oranyperson whofoundsanewbusiness.
Someresearcherstakeabroaderpointofviewanddefineentrepreneurshipasenteringnewmarketswithexistingornewproducts,orenteringexistingmarketswithnewproducts.Ifyouhaveknowledgeofmarketing,yourecognizethegrowthstrategymodelinthis.Thismodelexplainswhatstrategyisbestifyouwanttogrowasanentrepreneur.Willyoudosoinanexistingmarketoranewmarket?Willyoudosowithanewproductoranexistingproduct?Characteristicisthatthesestrategiesarefocusedongrowth.
Otherresearchersapproachentrepreneurshipfromapsychologicalperspective. Theydescribeentrepreneurshipinavisualway:
“Entrepreneurshipistheabilitytocreateandbuildsomethingfrompractically nothing.Itisinitiating,doing,achievingandsettingupacompanyratherthantakingoverormanaginganexistingcompany.Itishavingafeelingforseeingopportunitieswhereothersseechaosandproblems.
Itisthepowertoputtogetherateamthatcomplementsorcompensatesthe personalqualities.Itistheknowledgeaboutwheretherighttoolsandresourcescanbeobtained(oftenownedbyothers)andtoensurethatmoneydoesnotrunoutwhenitisneededmost.Finally,itisthewillingnesstotakecalculatedrisks-bothpersonallyandfinancially-andtodoeverythingpossibletoputtheoddsinone’sfavor.”
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Inthisvision,entrepreneurshipisaboutcreatingsomethingnewandthebehaviornecessarytotakeadvantageofit(eventually),althoughthelatterrelatesmoretotheentrepreneur.Ithinkthebeautyofthisdefinitionisthatitalreadybecomesclearwhichpersonalcharacteristicscomeintoplaywithentrepreneurship:
• Totaldedication,determinationandpersistence• Ambitionandperformanceorientation• Independency• Creativity• Goalorientationandriskorientation• Takinginitiativeandresponsibility• Perseverance• Self-awarenessandself-knowledge• Self-reflectionandtheneedforfeedback• Effectivenessandbeliefinone’sownability• Beingabletodealwithuncertainty• Dominanceanddecisiveness• Socialorientationandbeingabletocollaborate
Definition of entrepreneurship Entrepreneurshipbeginswiththeideaofstartingsomething.Youseeanopportunityor apossibility,andconsiderrespondingtothat.Youcanseethatopportunityinsomethingthatdoesnotexistyet,butthatiswhatyouconsider“thegapinthemarket.”Alternatively,anopportunitymightpresentitselfbyimprovingexistingproductsorservices,becausetheydonotworkwellinyouropinion.Youcanalsoseeitasanopportunitybecauseithasalwaysbeenyourdreamtohaveyourownbusinessorsimplybecausethereisnobetteralternativeatthatmoment,becauseyouareunemployedforexample.Thereisalwaysareasonthatfuelsyourdesireordecisiontostartabusiness.Togetfromdesiretoreality,youshouldseizetheopportunity.Thinkingshouldbefollowedbydoing.Takeactiontoturntheopportunityintoanadvantageforyourselfandforothers.
In short, entrepreneurship is:seeingandseizingopportunitiesthroughone’sowncompanyorwithina(larger)companywithwhichyoucreatevalueforyourselfandothers.
Inthecompactdefinitionabove,entrepreneurshipisseenasrenewal,butthisdoesnotnecessarilymeanthestartofanewcompany.Entrepreneurshipcanalsooccurwithinanexistingcompany,eitherwithinasoleproprietorshiporwithinamultinational.Inasoleproprietorship,theentrepreneurshipnaturallyrelatestotheentrepreneur,whoistheenterprisingpersonwhoseesnewopportunitiesandknowshowtoexploitthem. Atlarge(r)companies,itrelatestooneormoreenterprisingpeoplewithinadivision orsubsidiary.Thisistheso-calledinternalentrepreneurship:apersonwhocreates innovationinan(existing)organization.
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WHATISENTR
EPREN
EURSH
IP?
Nowadays,evenwithinrelativelysafeandwell-definedorganizations,itisexpectedofemployeesthattheyare‘entrepreneurial.’Youmightwanttotakethatwithoneormoregrainsofsalt,becauserealentrepreneurshipalsomeanspioneering,takingrisksandmakingdecisionsinmomentsofuncertainty.Theseissuesarenotvaluedinmanyorganizations;theyareoftenevenimpossibleorpunishable(youwillbefired:“ifyoulovetobeentrepreneurial,beitinyourowntime’).Therequirement‘entrepreneurialpersonality’inemploymentadvertisementsisusedinthesearchforpeoplewhonotonlydowhatisexpectedofthem,butwhoalsobringintheirindependentthinking.Theyarelookingforpeoplewhoarecreativeandcritical.Thesetwocharacteristicsalsocomeinhandyforthetrueentrepreneur,buttheyarenotsynonymouswithentrepreneurship.
Bytheway,youshouldunderstandcreatingvalueinabroadsense.Ofcourse,youcreatevalueforyourselfbyearninganincome.However,bystartingabusiness,youalsocreatevalueforothers,justbytheproductsandservicesyouoffer.Peoplebuyyourproductorservicebecauseitsolvestheirproblemorfulfillsaneed,orbecauseyoucansellverywell.Youalsocreatevaluebyofferingemployment,whichmeansmorethansimplyputtingpeopleonthepayroll.Todeliveryourproductsandservices,youoftenalsoneedtheproductsandservicesofotherbusinesses.Withthat,youprovidethemworkandthusvaluetoo.Donotfeelashamedifyouhavenoemployeesandpeopleaskyouhowmanyemployeesyouhave.Thequestionofhowmuchworkyouprovideismoreimportantthanhowmanypeopleyouemploy.
Didyouknowthatbiggercompanieshavetroublekeepingupwiththepaceofinnovationandthattheywillbebeatenbynewsmallbusinessesmuchmoreofteninthefuture?BusinessmodelshavechangedradicallythankstotheInternet.
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please, try it yourself!
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or the golden
eggThe Goose
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When are you an enTrepreneur? chaptEr 2
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WHEN
AREYO
UANENTR
EPREN
EUR?
2 When are you an entrepreneur?
What is an entrepreneur and who can you classify as one?Variousdefinitionsofanentrepreneurexist.Thisdoesnotmakeiteasierofcourse. Somescientistsseetheentrepreneurastheinnovatorofthecompany,whileothersseetheentrepreneurastheownerand/ormanagerofthecompany.Stillothersdonotseeanentrepreneurinanownerofasmallbusiness.Theyseeinanentrepreneursomeonewhosetsupabusinesswiththegoalofachievingprofitsandgrowth.Onedoesthisthroughinnovativeandstrategicbehavior.Iftheowner-managershowsnocreativeorinnovativebehavior,onecannotberegardedasanentrepreneur.
Onecannotgiveagenerallyaccepteddefinitionoftheentrepreneur.Thedifferent definitionsoftenraisemorequestionsthantheyanswer.Youcansafelyspeakofa definitiondilemma.Differenceofopinionalsoexistsinthebusinesscommunityand theTaxAuthoritiesuseyetanotherdefinition.ThefactthatyouregisteredyourbusinessdoesnotimmediatelymakeyouanentrepreneurfortheTaxAuthorities.Thereare numerouscriteriaforthat.Allthisdoesnotmakeiteasier.
Youareanentrepreneurwhenyouhaveregisteredyourcompany.Registeringcostsyouaboutacoupleofhoursandafewbucks(dependingonthenatureofyourbusinessandthecountryorregioninwhichyouwanttostart).Fortherecordsyouthenhaveacompanyandsoyouareanentrepreneur.Youcanrelaxandwaitforalldirectmailoffersthataresenttoyousubsequently:administrationoffices,officefurnishers,salesrepresentativeforsoftware,theyallknowhowtofindyou.
Accordingtothedictionary,anentrepreneuristhepersonwhoembarksonsomething,takesonathingofanyimportance,starts.Ineconomicterms,anentrepreneurisapersonwhoisself-employedinabranchoftradeorbusiness,forone’sownaccountandrisk,onthebaseofproductionresources.Youcanstillmakeadistinctionherein.Strictlyspeaking,youareanentrepreneurasabusinessowner,butthisfindingsaysnothingabouthowenterprisingyouare.
Self-employedYouareself-employedifyoumainlyprovideyourownincome. Thinkofthesmallbusinesspersonwhoissatisfiedwiththestatusquoandwhocancontinuewiththatforyears;youcouldclassifythispersonasself-employed.Youcanalsoclassifythefreelancerwhoessentiallytriestoprovideone’sownincomebydoingjobsforclientsasself-employed.
IfyouhaveregisteredyourbusinessandmeetallthecriteriaoftheTaxAuthorities,areyouanentrepreneur?Yes,youofficiallyare.Thatishoweasyitistostartyourown business,tothesatisfactionofmanystarters,totheannoyanceofsomeothers. Itshouldbenoted,however,thatthisisnottrueforeverycompany:tostartadaycare,you-fortunately-indeedneedaprofessionaldiploma.
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Youcannowsaythatyouareself-employed,justlikethehairdresserandtheownerofthedrivingschoolinyourneighborhood,andfamousentrepreneurssuchasRichardBransonandConradHilton.Theoneearnslessthantheminimumwage;theotherisconsideringthepurchaseofasecondprivateplane.Theirsimilarityisthattheyare registeredandmeetthecriteriaoftheTaxAuthorities.Thatiswherethesimilarityends.
The enterprising entrepreneurIfyouwanttogrowasanestablishedself-employedindividual,suchasConradHilton,andyouwanttostartseveralorothertypesofbusiness,Icallitentrepreneurial.Thisisalsomoreinlinewiththeprevailingperceptionspeoplehaveofanentrepreneur.Entre-preneurshipcanberecognizedhereaswell:seekingandfindingnewopportunities,andmanagingtoturntheminone’sfavor.Afterall,itisnolongeraboutprovidingone’sownincomeorexercisingcraftsmanship,butabout(un)consciouslyreachinghighergoals.Thepointhereisnotwhetheryouareabusinessowner,butwhetheryouareentrepreneurial.Yourbehaviorshowsthatalotmorethanyourregistration.Abusinessownerisnotnecessarilyentrepreneurialaswell.
motivation
passion
knowledge
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WHEN
AREYO
UANENTR
EPREN
EUR? Soyoucouldsaythattheentrepreneurdiffersfromthebusinessowner,inthisperspective.
Aself-employedindividualisratherthecraftsmanorspecialistwhodoesnotfeellikeworkinginpaidemploymentordoesnothavetheopportunitytodoso. Fortheentrepreneur,runningabusinessistheprofession:thereliesone’sstrengthandchallenge.
ConclusionEntrepreneurshipisseeingandseizingopportunitiesthroughyourowncompanyorwithina(larger)companywithwhichyoucreatevalueforyourselfandothers.Thiscanthereforetakeplaceinasmallorlargeorganization.Eitherway,youorsomeoneelseseesanopportunityanddecidestoactuallyseizethatopportunity.Inasmallorganization,thisisoftentheentrepreneur,butnotnecessarily.Someoneelsecanalsoobservetheopportunity,suchasthepartneroftheentrepreneur.Asanentrepreneur,yourunthecompanyonyourownaccountandrisk,butthatdoesnotnecessarilymakeyou entrepreneurialtoo.Thequestioniswhatmakesyouentrepreneurial?Whatpersonal factorsplayaroleinsuccessfulentrepreneurship?Alternatively,whatpersonalfactorsplayaroleinsuccessfullyaddingvaluebyseeingandseizingopportunities?
FinallyIexplicitlymakenovaluejudgments.Boththeself-employedindividualandthe enterprisingentrepreneurarefull-fledgedbusinessowners.Theremainderofthis bookisconsequentlyaboutboth.Theself-employedindividualisnotbetterthanthe entrepreneurortheotherwayaround.Ifyoudecidetobeandstayself-employed, thereisnothingtobesaidagainstit,bynoone.Itisyourchoice.Thatisthebeauty ofentrepreneurship.Youdecide!
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to be continued...
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finishstrong
go hard
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finishstrong
WhaT Is a compeTence? chaptEr 3
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WHATISACOMPETENCE? 3 What is a competence?
Inthischapter,Iclarifywhatacompetenceisandofwhatitconsists,becausethisconceptisthebasisforthisbookabouttheentrepreneurialcompetence.
Themeaningofthewordcompetencehasshiftedfrom‘qualification’(beingauthorized)to‘capability’(beinggoodatsomething)inthecourseoftime.Acompetencecanthereforebeindicatedassomethingatwhichyouaregood,asyourabilityallowingyoutodoyourworkwell.Thisabilityconsistsoffourelements:Motivation,Personalcharacteristics,QualitiesandKnowledge.Theseelementstogetherarenecessaryforachievingagoodscore.Thismeansthatthetermcompetenceobviouslyimpliesincompetencetoo.Thelackofcompetenceorofapartthereofmayleadtolowerperformances.
Inshort,acompetenceisthatwhichmakesyousuccessfulinaparticulartaskorrole.Thefigurebelowexplainsthisfurther.
Figure1:Fourelementsofacompetence.
Motivation (want) Motivationhaseverythingtodowithwanting.Howmuchdoyouwantsomething?Whatdoyoufindtrulyimportant?Themotivationdependsonyourambition,(inner)motivationsandvalues.Onlywhenthereismotivationforaspecifictask,theremainingelementsofthecompetencecan“really”beaddressed.Supposeyouhavealotofknowledgeandskillsforaparticularjobbutlittlemotivation,youwillprobablynotusethoseknowledgeandskills.Motivationisliketheignitionofamotor;howmuchdoyouwanttogetstarted?Thenumberofhorsepower(hp),theotherthreeelements,indicatesthepoweroftheengine;howwellcanyoustart?
Personal characteristics (be) Personalcharacteristicssaysomethingaboutwhatyouarelike,aboutyourcharacter. Itissocloselyrelatedtoyouthatitisvisibleandrecognizabletoothers.Thinkofsomeoneinyoursurroundingswhooftendoesmostofthetalkingandisverydominant.Oneissopresentthatitstandsout.Thisway,thereareanumberoffeatureswithwhichyou
qualities characteristic
s
know
ledge motivation
wantingknowing
beingdoing
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cancharacterizesomeone.Theyareoftenreferredtoascharacteristicsaswell.Thinkaboutit:whatareyourcharacteristicfeatures?Whatdoothersoftensayaboutyou? Characteristicsorfeaturesarenoteasytolearn.Youarebornwiththemmoreorless,andthroughtheyears,theyhavemadeyouthepersonyouaretoday.
Qualities (can) Qualitiessaysomethingaboutthatatwhichyouareverygood.Qualitiescanbe learnedeasilyincontrasttocharacteristics.Qualitiesaretiedtoasituationortask.Incidentally,qualitiesandcharacteristicsareoftenmixedup;onemighttalkaboutcharacteristics,whiletheotherusesthetermqualities.Thus,themaindifferenceisthatqualitiescanbelearnedmoreeasilythancharacteristics.Inaddition,aqualityismoreoftensomethingpositive,whileacharacteristiccanbebothpositiveandnegative.
Knowledge (know) Thelastelementofacompetence,knowledge,isrelatedtoknowing.Inordertobeabletoperformaparticulartaskorhandleaparticularsituation,youneedtoknowhowthatshouldbedone.Whatrules,proceduresandlawsapply?Qualitiesalsohavearelationshipwithknowledge.Forexample,whengivingfeedback,itisusefultoknowwhichrulesshouldbeapplied.Characteristicshavenorelationshipwithknowledge.Youdonothavetoknowanythingtobeit.Lookatperseverance;youdonotneedtoknowanythingforthat,thoughitispossibletodevelopthisbyknowingorlearninghowothersdoit.
Developing competencesCompetencescanbedevelopedtoacertainextent.Itdependsonyourintelligenceandpersonality.The‘limits’toyourintelligenceandpersonalityaregiventoyousincebirth.Withintheselimits,itcanthusbedeveloped.Itstartsinyourearlyyearsanditdependsontheenvironmentinwhichyougrowupaswell:towhatextentisitastableandsafeenvironment?However,competencescanbedevelopedeveninadolescenceandadulthood.
Does intelligence matter? IntelligenceobviouslyhasastrongrelationshipwiththecompetenceelementKnowledge.Knowledgeisgainedquickerandyouwilllearnmorefromexperienceifyouare intelligent.Educationismainlyfocusedontwotypesofintelligence:linguisticand logical.Researchersarguethatatleastseventypesarepresenttoacertainextent, whichcanbedeveloped.
• Linguisticintelligence:yourabilitytoread,writeandcommunicate.• Logicalormathematicalintelligence:yourabilitytocalculateandtoworkwith
numericalsymbolsandtousethemaccordingtotherulesoflogic.• Musicalintelligence:yourabilitytouseandappreciatethelanguageofmelody,
rhythm,harmonyandsounds.• Spatialintelligence:yourabilitytoperceiveandtorecreateonpaperorinthehead.• Physicalormovableintelligence:yourabilitytousethebodyforself-expressionor
asatoolforlearning.
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WHATISACOMPETENCE? • Interpersonalintelligence:yourabilitytoperceiveandunderstandthefeelingsand
needsofothers.• Intrapersonalintelligence:yourabilitytoself-understanding,knowledgeaboutyourself.
Thelasttwopersonalintelligences(interpersonalandintrapersonal)arealsoreferredtoasemotionalintelligence,whichhasgreatlygainedpopularityinrecentyears.BesidestheIQ(ameasureofintelligence),theEQnowalsomatters(ameasureofemotionalintelligence).Thelattersaysalotmoreabouthowgoodyouareincontactwithothers.Doesintelligencematter?Well,itdoeshelp,butifyouarenotmotivatedormadeoftherightstuff,youwillnotgetthere.MotivationandPersonalityarealsoimportant; thisbookelaboratesonthis.
Didyouknowthatabout100BC,Ciceroalreadyspokethewisewords: “Characterwithoutknowledgehasledtosuccessmoreoftenthanknowledgewithoutcharacter.”
Inthefollowingchapters,Iapplythefourelementsofacompetence(motivation, personalcharacteristics,qualitiesandknowledge)totheentrepreneur.
To get a grasp of whatyou need to become a
successful entrepreneur, have a look at the
entrepreneur competence model
To get a grasp of whatyou need to become a
successful entrepreneur, have a look at the
entrepreneur competence model
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qualities characteristics
kn
owledge motivation
Company level• Market• Environment• People• Production• Finance
Learning styles• Accommedator• Diverger• Converger• Assimilator
Mature phase• Leadership• Motivating• Planning -
organising• Financial controlling
Early phase• Market awereness• Creativity• Flexibility
Traits• Need for achievement• Need for autonomy• Need for power• Social orientation• Self belief• Endurance• Risk taking
propensity
Thinking styles• Pioneer• Salesperson• Manager• Specialist
Internally driven• Need for achievement• Need for autonomy• Need for power
Externally driven• Unemployment• Business opportunity• Specialism
Figure2:TheEntrepreneurialCompetenceModel.
Theentrepreneurialmotivationcomesfromwithin(internallydriven)andispartlyfueledbymotivesfromoutside(externallydriven),alongwithanumberofcharacteristicsandoneormoredominantthinkingstyles.Inaddition,duringtheprocessofrunningabusiness,particularqualitiesplayaroleinthecurrentphasesofthebusinesslifecycle.Inordertoachieveone’sobjectives,theentrepreneurmusthave,acquire,orhireknowledgeof anumberofbusinessareas,dependingonone’slearningstyleandexperience. Themotivationworksasamotorhere.Onecannotlearnit,butonecanboostit. Itiscontagiousfortheuseanddevelopmentoftheotherelements.Motivationismostcloselyrelatedtotheperson;onecannothireit.Knowledgeistheleastcloselyrelatedtotheperson.Itisclosertothe‘surface;’onecanhireoracquireit.
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WhaT consTITuTes The enTrepreneurIal compeTence? chaptEr 4
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WHATCONSTITUTESTH
EEN
TREPREN
EURIALCOMPETENCE?
4 What constitutes the entrepreneurial competence?
Inthepreviouschapter,youreadthatacompetencycanbedividedintofourelements:motivation,personalcharacteristics,qualitiesandknowledge.Theseelementsdetermineyourabilityandmakeyousuccessfulinaparticularjoborrole.Nevertheless,whatisyourjobasanentrepreneurandwhenareyousuccessfulinbeingone?Whodecidesthat?Itiscertainlyeasiertoaskthatquestionthantoanswerit.
Youcandescribesuccessinvariousways.Youcandefinesuccessintermsofachievingagoal.Thiscanbeasocialgoal.Youcouldemploydisabledcolleagues.Thisiscalledcorporatesocialresponsibility.Youcanalsodefinesuccessinfinancialterms.Fromafinancialperspective,thereissuccesswhenthecapitalinvestedyieldsmorethanwhenitwouldhavewhenputinasavingsaccount.Youcanarguethatsuccessiswhenyouhaveoutdoneyourcompetitors.Ifthecompanyhasyieldedhigherrevenuegrowthandstaffgrowththanpeers,itissuccessful.However,isanentrepreneurnotsuccessfultoowhenoneissatisfiedwiththeincomeoneearns,orwhenonecancompletelyputone’screativityinit,orwhenonehasfoundagoodbalancebetweenworkandprivatelife? Ithinkoneis.Anyway,onecannamemanycriteriaforsuccess,butthemostconvincingcriterionhastobethecontinuityofthebusiness,especiallygiventhefactthatwithinfiveyears,abouthalfofthestart-upsnolongerexist.Youcanhavesuccessatthreelevels:societal,companyandentrepreneurial.
Didyouknowthatwomenaremoresuccessfulthanmenare?InaresearchbyDutchresearchersonly14.6%ofthebankruptcompanieswereheadedbya woman,while33%ofentrepreneursarewomen.Womenfocusonthe relationshipsinandaroundthecompany,whilemenaremoresales-oriented.Thatmakeswomenmoreconservativebutmoresuccessful(incontinuity).
Youshouldmainlythinkofsuccessasthecreationofjobsandtaxableassetsatthesocietallevel.Jobsarecreatedbygrowthorlargeinvestments.Governmentswantspeopletorunsbusinesses.Entrepreneurship,asresearchshows,createsinnovation,newinsightsanddevelopments,andgrowth.Newbusinessescreatenewjobsandrevenuesthatcanraisenewtax,whichisgoodforthepublictreasury.
Successatthecompanylevelislimitedtothecompany.Itisanobjectivemeasure.Theindicatorsofacompanyprovidetheopportunitytocomparecompanieswitheachotheraslongascompaniesadheretotheaccountancyrules.Youcandescribesuccessinthiscaseintermsofgrowthinsales,staffandprofit.Aslongasthecompanyscoresbetterthanitspeersdo,youcanobjectivelyspeakofsuccess.
Successattheentrepreneuriallevelindicatestowhatextenttheentrepreneurthinksoneissuccessful.Everyentrepreneurobviouslydeterminesthisforoneself.Thatisfortunate.Whenonereachesthegoalsonehassetforoneself,oneissuccessful.Onemustsetgoalsofcourse.Successcanalsobefeltbecauseofthefreedomexperienced
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orthetypeofworkortasksforwhichoneisasked.Onehaseveryrighttodoso.Inshort,whateverthereasonis,theleastonewillwanttoachieveisthatone’scompanycontinuestoexist.
Is everybody successful?No,noteverybusinessownerissuccessful,farfromit.Theexamplesofsuccessful entrepreneurslikeRayKroc(McDonald)andConradHiltonaretherefore somewhatmisleading:theyaretheexceptionsthatprovetherule.Thefactisthatfordecades,thesuccessrateofastartingentrepreneurhasnotbeengreaterthan50%.By‘success,’wemeantheentrepreneurwhoisstillanentrepreneurafterfiveyears.Thatmeansthatmorethanhalfofallthoseenthusiasticentrepreneursthrowinthetowelafterafewyears.Inthemostfavorablecase,theydoso themselves,becauserunningthebusinessrequiresmoretimethanexpectedandyieldslessmoneythanhoped,forexample.Intheworstcase,theentrepreneurhastostopbecausethereisafinancialmess,uptobankruptcy. Failingentrepreneurshipcostssocietieshundredsofmillionsofdollarseveryyear.Thereisyourreasontoconsiderthecausesforfailure.
Askentrepreneurswhatthereasonfortheforceddiscontinuationoftheircompanyisandtheywillbehappytopointatexternalfactors.“Themarketwasworkingagainstme”isverypopular.Non-payingclientsareintheTop10NationalExcusetoo.Pointingatsomeoneelseor,evenbetter,abstractexternalfactorssuchas‘themarket’ismorepopularthanpointingatyourself.Thesplinterintheeyeoftheotherisstillmorevisiblethanthebeaminone’sowneye.Thisprincipledoesnotonlyapplytoentrepreneursbytheway.
Theentrepreneurwhoseesone’scompanyperishafterashorttimeandblames itonone’sownshortcomingsisrare.Thatisremarkable,giventheresultsofmanystudiesconductedonthisfailure.Theseclearlyindicatethat,forexample,thepoorkeepingofrecordsisanimportant‘failfactor,’justastheinabilitytoattractclients.Thathasnothingtodowithexternalfactors,butallwiththeinterioroftheentrepreneur,withone’squalitiesor,withanicerword,one’sentrepreneurialcompetence.
ConclusionItisthejoboftheentrepreneurtocontinuethecompany(atleast).Thatsaysnothingabouttheprofitorlossyielded.Itisalsoverydependentontheindustry,butcontinuingthebusinesssurelyistheminimumrequirementyoumustsetasentrepreneurialtask.Behonest:whostartsabusinessinordertoalreadyknowatthestartthatitisdiscontinuedafterthreeyears?Everyonewouldwantthecompanytocontinue.Theentrepreneurialcompetenceconsistsofthemotivation,personalcharacteristics,qualitiesandknowledgenecessaryforthesurvivalofacompany(atleast).
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Be different Think with your heart
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4.1 Motivation: what do you really want?
Figure3:Thefirstelementofcompetence:motivation.
Inmotivation,itisabouthowmuchyouwanttobeandstayanentrepreneur.Hasitbeenapositivechoice,becauseyouhavealwayswantedthis?Hasitbeenaninnerfeltmotivetogointobusiness?Alternatively,hasitbeenanegativechoicebecausetherewasnoalternativeforyouatthetime?Forinstance,unemploymentcan‘force’youtostartforyourself,especiallylaterinlife.Afternumerousrejectionsinapplications,startingforyourselfmeetslessandlessresistance.However,ifthereislittlemotivationanditismostlynegative,itwillbedifficulttopullthroughwhentimesgettough,especiallyinthebeginning.Ifyouhavelittlemotivation,youwillthrowinthetowelquickly.Successisdefinitelynolongeranoptioninsuchcase.Ifyouaretrulymotivated,haveavisionandwanttofightforit,youwillpullthrough.Itisthereforeimportantnottooverlooktheanswertothefollowingquestion:
4.1.1 Entrepreneurial motives: why do you want to be an entrepreneur?
ItmayseemthatIwanttosayhere:‘donotstart’.Cherishyourlifeasawageslaveandrejoiceyourvacationbonusandyourpensionaccrual.Nothingisfurtherfromthetruth.WhatIdowanttomakeclearisthatyoushouldlookbeforeyouleap.Thatsoundslikeacliché,whichitis,butitistrue.Manysetbackswillcomeyourwayandarealisticlookatthelifeofanentrepreneurhelpsyouovercomeadversity.Inmypractice,Imeetmany(future)entrepreneurswhosaythatrunningabusiness‘seemslikefun.’Fun?Whatkindofmotiveisthatsupposedtobe?Thatsoundsabitpoorandnaïvetome.Therefore,answerthequestionofwhyyouwouldliketostartasanentrepreneur.Donottrytoconvinceme,butconvinceyourselfthatyouaredoingitfortherightreasons.
qualities characteristic
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ledge
knowing
beingdoing
motivation
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MOTIVATION:W
HATDOYOUREA
LLYW
ANT? Entrepreneurial motives
Studiesconductedbyuniversitiesshowthat‘independence’or‘wantingtobeindependent”ismentionedastheprincipalmotiveforstartingabusiness.Othermotivesmentionedincludewantingtodeliverqualitywork,unemployment,havingfoundthegapinthemarket,beingsureofclientsandearningabetterincome.
Inonestudy,99,115entrepreneurswereaskedabouttheirpersonalgoalto startabusiness.Aforcedchoiceoffiveanswerstothequestionabouttheir mostimportantpersonalgoalproducedthefollowingpicture:
DoingworkthatIlike(41%)Stayingindependent(29%)Becomingfinanciallyindependent(17%)Beingabletoputmycreativeideasintopractice(10%)Controllingmyowntime(3%)
IndependenceIndependenceseemsextremelyattractiveandislinkedtoentrepreneurshipinextricably.Thereisgoodreasonfortalkingabout‘anindependententrepreneur’(aswithfranchisebytheway,thoughyouaremoredependentonthefranchiseorganizationofwhichyouareapart).
Itoldafellowentrepreneur–Iwillnotmentionanynames,hestillhasafirm–aboutthemotive‘independence’whilewritingthisbook.“Independence? Stopit!Dotheymeanthattheyarenolongerbeinglivedbyaboss? Man,whenIwasemployed,Ionlyhadtodealwithoneboss,nowwithhundreds!EverytimeIamhappybecauseIhavewelcomedanewcustomer,thenastyfeelingthatIhavegainedanotherbossimmediatelycomesoverme.ItisaTrojanhorse.IcantellabossthatIdonothavetimeoraheadache,butnotacustomerwithoutlosinghimorher.No,themorecustomers,themorepatrons,themorebosses.Iamlivedbythem.Theyeatmytimeandmyenergy.Theonlyadvantageisthattheyallhavetopayforit,andeventhatnoteveryonedoes.”
Thedesireforindependenceisnotsomuchtheindependenceitself.Rather,itisa necessaryconditiontomeetothermotives.Somewantfreedomsothattheydonothavetoworkforaboss.
(Whatisupwiththesebosses?Aretheystilltheslavedriversofyesteryear?)Otherswanttodeliverbetterproductsandservicesthantheycanatorthroughtheiremployer.Theywanttoputtheirownideasofwhatisgoodinpractice.However,thisislesseasyina(large)existingorganization.Independenceisanecessaryconditiontomeetothermotives.
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Actually,theseentrepreneursstriveforsuccess(forwhichthereareseveraldefinitions,seetheprevioussection),andtheyseethepossibilitytorealizethatthroughtheirowncompany.Nevertheless,howlikelyisitthatitwillbesuccessful?Isitaboutthesuccessofthecompanyorsecretlyaboutthatofthemselves?Isthelattertheirdeep-rooteddesire?
Independence in psychoanalysisIfIndependenceisakindofoverarchingmotivetoachieveothermotives(goals),itisinterestingtoseewhatthoseunderlyingmotivesmightbe.ManfredKetsdeVries(thefamousprofessoratInstead,theleadinguniversityinParis)liftsacorneroftheveil.
In“Thedarksideofentrepreneurship,”KetsdeVriesdescribesashadowyimageoftheentrepreneur.Thesuccessfulentrepreneursthathehasanalyzedshowedanexcessiveneedforcontrol,sometimestothedetail,andaninabilityorunwillingnesstoworkunderthecontrolofanotherperson.Consequently,theentrepreneurdiffersfromthemanager.Whilemanagersareabletoadapttoaleader,byseeingthemasarolemodel,suchsubordinateroleshorrifiesmanyentrepreneursandtheybringtheleadershipintodiscussion.Thisisclearlyamotiveforrunningone’sownbusiness.Withageneraldistrustinothers–andanenormousdesireforapplauseatthesametime,sometimestotheextreme–KetsdeVriesmightsketchanimageofextremes,buthealsogivesamorenuancedimageofcertaincharactertraitsofentrepreneurs.Thiswillundoubtedly(subconsciously)beabreedinggroundforsometostartforthemselvesandtoenduretothepointthatwhatstartedasadreamhasturnedintoaconglomerate.
4.1.2 What matters: does it come from the inside or the outside?
Inansweringthequestionofwhatisyourmotivationforentrepreneurship,youneedtorealizewhetheryourmotivescomefromtheinsideortheoutside.Internallydrivenmotivesstemfromyourdeeplyfeltdesiretoachievesomething.Whetherthatisdoinggreatwork,gettingrichornothavingtoworkunderaboss:youcanachievethosegoalsthroughentrepreneurship.Byunderstandingwhatyourdeepermotivesare,youalsogetabetterideaofwhatyouwanttoachievewithyourbusiness. Fordoingfunwork,youdonotnecessarilyhavetogrow.However,ifyouwanttogetrich,growthwillbenecessary.Nevertheless,ifyoucheckyourself,youwillrecognizeexternallydrivenmotivesthatcomefromtheoutside.
Fearingtomisstheopportunitythatoccurredatthatmoment,wantingtodosomethingcompletelydifferent:whateveritis,theyaremotivesthathavemadeyoutakethesteptostartabusiness.Nevertheless,evenifbeingunemployed,havingnoimmediateprospectofajob,madeyouconsiderentrepreneurship,thequestioniswhetheronlytheunemploymentmadeyouconsiderit.So,doesitstemfromyour(internallydriven)fightordoyouhavetoadmitthatitwasmoreofa(emergency)flight?Inthelattercase,themotiveisinyourenvironmentorsituationandsoitisdrivenexternally.Shouldyouthenstillwanttocontinueit?
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Thesurvivalratesofanacquiredcompany,fiveyearsaftertheacquisition,are90%-95%.Thesurvivalratesofastartupareapproximately50%after5years.
In shortMotivationasthefirstelementoftheentrepreneurialcompetencecanbedividedintointernallyandexternallydrivenmotives.Internallydrivenmotivescomefromwithin,andformtheinnermotivestobecomeanindependententrepreneur.Themainreasonsmentionedbyentrepreneursandresearchersaretheneedforindependence,performance andpowerorcontrol.Thechoiceofentrepreneurshipcanalsobeencouragedby externallydrivenmotives.Forinstance,unemployment–especiallylaterinlife–can“force”someonetostartone’sownbusiness.Afternumerousrejectionsinapplications,thethresholdfor(“nothinglefttodobut”)startingone’sownbusinessislower. Incidentally,therelationshipbetweeninternallyandexternallydrivenmotivesstillsaysnothingabouttheentrepreneur’schancesofsuccess.
Discoveryourmotivationforentrepreneurship!Doyouwanttofindoutifyouaremotivatedforstartingyourowncompany?Pleaseanswerthesethreequestions:
1.Canyoualsodowhatyouwanttodoata(large)company?2.Canyoucomplywithsomeoneelse’sexample?3.Canyoustanditwhensomeonegivesyouorders?
Ifyouhaveanswered‘No’threetimeswithoutanydoubt,considerstartingyourowncompanyifyouhavenotalreadydoneso.
MOTIVATION:W
HATDOYOUREA
LLYW
ANT?
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Be different Think with your heart
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Be different Be who you are
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4.2 Personal characteristics: who are you really?
Figure4:Thesecondelementofcompetence:personalcharacteristics.
Personalcharacteristicscanbedividedintocharacteristicsandthinkingstyles. Characteristicssaysomethingaboutwhatyouare,whatcharacterizesyou.Itdoesjusticetoyour‘own’characteranditisthereforecloselylinkedtoyou.Itissostrongthatitisrecognizabletoothers.Thesamegoesforthinkingstyles,whicharealsostronglylinkedtoyourperson,thoughtheyratheraddressthewayyouthinkandaboutwhatyouthink.Forinstance,theoneisarealdreamerandtheotherisarealdoer.Bothconcepts,characteristicsandthinkingstylesofentrepreneurs,areelaboratedoninthischapter.
4.2.1 Characteristics: what characterizes you?
Manystudiesonthecharacteristicsofentrepreneurshavebeenconducted.Forthesecharacteristics,itisshownthatsuccessfulentrepreneursdifferfromnon-successfulentrepreneurs,ormanagersandnon-entrepreneurs,especiallywhenitcomestothecharacteristicsNeedforAchievement,NeedforAutonomy,NeedforPowerorDominance,SocialOrientation,Selfbelief,PerseveranceorEnduranceandtheWillingnesstotakerisks.Successfulentrepreneursscorehigheronthesecharacteristicsthannon-successfulentrepreneurs.Here,successmeanssurvivingthefirstyearsthatthecompany. Obviously,onecansetmanyrequirementsforsuccess,butasstatedearlier,continuityisthemostconvincingcriterion.Eachcharacteristicwillbeelaboratedonbelow.
Need for AchievementTheneedforachievementisaperformanceorientationandmainlyaboutwantingtodeliverperformance.Thismeansitsayssomethingaboutmotivationaswell:themotivationtocontinuetoachieveandtodosobetter.Thisdrivecomesfromwithin.Itisthehungerforsuccess.Forsome,itmaybeareasontostartone’sownbusiness.
Inyourowncompany,youcangrowasfastasyouwant,aslongasyouplanitwellintermsoffinance.Youcangrowfasterthanyoucangrowasanemployeeinalargecompany,becausethere,youarelikelytomeetamanagerwhocannotstandit.
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PERSO
NALCHARACTERISTICS:W
HOAREYO
UREA
LLY? Needforachievementisimportantinentrepreneurship.Youmusthavetheambitionto
achievesomethingandthewilltodoit(increasingly)better.Youareperformance-orientedwhenyou:
• Feelpersonallyresponsiblefortroubleshooting,setgoals,achievegoalsthroughyourowneffortsandhaveastrongneedtoknowhowwellyouhavedone.
• Haveastrongneedtobegoodatsomethinginordertoobtainagreatersense ofinnervigor.
• Doyourbest,wanttobesuccessful,wanttocarryouttasksthatrequirecommitmentandproficiency,dosomethingofgreatimportance,wanttofollowadifficulttaskthroughtoasuccessfulconclusionandwanttoberespectedbyothers.
• Wanttoimproveyourselfcontinuously.• Takepersonalresponsibilityformakingdecisions.• Havethewilltodoaremarkablejobandtogetahead.
Generic description need for achievementSuccessfulentrepreneursareperformance-oriented.Thatis,theypurposefullystriveforanachievement,enteringintoafightwithothersifnecessary.Havingtheirbusinessgoalinmind,theyworkwithalotofwillpowerandenergyontheirowncompany.Theywanttoperformmoreandmorebydoingeverythingasgoodaspossibleandtheycontinuouslyraisethebarforthemselves.Theywanttostandout.Thatmotivationcomesfromwithin.Non-successfulentrepreneursdonothaveastrongperformanceneedorstrongwilltosucceed.Theyquicklysettleforless.
How can you develop Need for achievement?Performanceorientationdefinitelyhaseverythingtodowithwhatyouwanttoachieveandhowmotivatedyouaretoachievethat.Whatdoyoureallywanttoachieve?Youstartwithimaginingwhatyouwanttoachievebysketchingyour visionforthefuture.Whatimagesdoyouseeifyouthinkofthefuture?Ofwhatdoyoudream?Whatareyourwishes?Whatmakesyoutrulyenthusiastic?Alsoaskyourselfwhythisisthecase.Thisway,youautomaticallycometotheessence.Donothesitatetothinkbig;allgreatthingsstartwithafirststep.Developingavisionbeginsattheendofthe‘thoughtprocess.’Itistheresultofalltheactivitiesyouwanttoundertake.Itisarealistic,credibleandattractiveimageofthefuture.Itiswhatyouwanttoachieve!Itisaresultthatyoucanactuallyconcretelymeasureorholdwhenyouhaveachievedit,suchasthemarketleaderinagivensector,oralargecompanywithabuildingonwhichyournameadornstheentirefacade.
Whateveryouimagine,theresultmustbeconcreteandtangible.Afigureonhowmanyrevenueyouexpecttomakeisatangibleandmeasurableresulttoo!Theclearerandmoredetailedyoucanimagineit,thecleareritbecomesforyouhowtoachievethat.Bycreatingaconcreteimageofwhatyouwanttoachieveandbydescribingtheachievementclearlyandconcretely,itbecomescleartoyouandotherswhatyouwanttoachieveandwhenyouhaveachievedit.Thensubdivideitintoverysmallsteps,intermediategoalsthatyoucanachieverelativelyquickly.AusefultoolhereistomakeyourperformanceSMARTER.Itisanacronymfor
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Specific,Measurable,Achievable,Realistic,TimeSpecific,EmotionandfinallyResult.Inordertoachievetheresult,youthussubdivideitintoverysmallsteps,andeachstepisformulatedinaSMARTERmannerofcourse.ASMARTERgoalis
• Specific(definedindetailandclearly)• Measurable(howmuchrevenue,whatsize,whatcapacity,etc.)• Acceptableorfeasibleforyourselforinthemarket• Realistic(actuallyfeasibleor‘fantasyisland’)• Time-bound(start,phases,end)• Emotion(howbadlydoyouwantit,connectyourselfemotionally
withyourgoal)• Result(howimportantisthegoalforyou,makeitimportant)
Everysmallstepmakesthelongjourneytoyourgoalmanageableandachievable.Wheneveryouareonestepfurther,thefeelingthatyouaregoingtoreachyourownfinishlinegrows.Thinkofitasagamethatyouplaywithyourself.Everytimeyouhavetakenthenextsmallstep,yourMotivationandyourneedtoachievegrows.Yourvisionworkslikeamagnethere.Thecloseryoucometothegoal,themoreattractiveitbecomes.Watchoutthough:ifyounevertakethefirststep,youwillstayindreamland.
IndependenceThechapteronmotivationhasalreadywrittenathingortwoaboutindependence,buthereIwillelaborateonwhatindependencetrulymeans.Youareautonomouswhenyou:
• Haveanintenseneedforindependence,autonomy.• Wanttojudgeindependently,wanttobeindependent,resistsuggestionsfrom
othersandarelesswillingtoadapt.• Havegreatdissatisfactionwithworkingunderabossorhavingtofollowthe
decisionsofothers.Autonomousmeansbeingtooneselforwantingtobetooneself,whileindependencerathermeanswantingtobeandbeingabletodosomethingoneself.Thismeansthatindependencedoesnotautomaticallymeanautonomy. Thisispresentinmanyorganizationsnowadays.Employeeswantthesecurityofajobontheonehand-andthusincomeanddependenceofalargerorganization-,butindependenceintheworkontheotherhand:entrepreneurshipwithinthe company.Theentrepreneurisautonomous-onehastobecapableofdoingalotoneselfaswellasoftenactuallydoingitoneself-butnotindependentofothers,suchascustomers,suppliers,employees,financiers,thegovernmentetc. Theindependencethatentrepreneursexperienceismorethefeelingoffreedomtodowhatonewants,likesayingnotoapotentialcustomer.
I’ve failed over and over and over again in my life and that is why I succeed.
Michael Jordan
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General description IndependenceIndependenceisoftenthe(un)consciousreasonwhysomeonechoosestheexistenceofaself-employedentrepreneur.Onefeelstheneedtobeabletodecidefreelyandtodowhatonethinkisgood.Successfulentrepreneursmakedecisionsautonomousofothers,solvetheirownproblemsandfinishtheirworkontheirown,butalsoknowhowto letthisgoinordertogrowtheirbusiness.Theyunderstandtheincreasingneedfor independenceoftheiremployees.Unsuccessfulentrepreneursneedsupportorhelp,andoftenleavemakingdecisionstoothersorareunabletoletgotheirstrong independencewhentheirbusinessisgrowing.
How can you develop Independence?Independencemainlymeansthatyouchooseyourownpath.Especiallyifyoustarttheentrepreneurialadventureasasolostarter,youcannotdowithoutthischaracteristic.‘Canonelearnindependence?’youmightaskyourself. Well,youarebornwiththischaracteristicmoreorless.Yetyoucanincreaseyourindependence.Itismainlyamatterofdaringtotrustyourselfbyrelyingonyourownstrength.Howdoyoudothat?Thefollowingtipscanhelpyouincreaseyourindependence.Theeasiestandmosteffectivemethodistohireacoachwithwhomyoucantalk. Ifyouwanttodoityourself,whichofcourseisagoodsteptowardsgreaterindependence,thefollowingmethodcansupportyouinthat.Ifyouendupinasituationinwhichyouareatalossandwanttoconsultothers,stopforasecond.Waitafewminutesandletthenastyfeelingrisethatyoudonotknowhowtocontinue.Thisistheuncertainfeelingfromwhichyouwalkawayandforwhichyouhopetogaincertaintyofothers.Thenimaginethatthereisnooneelsearoundthatcouldhelporadviseyou.Thefeelingislikelytogetworse.
Nevertheless,acceptthebadfeelingforthatmoment.Donotavoidit;thefeelingisthere.Nowgobacktothesituationinwhichyoudidnotknowwhattodecideorhowtocontinue.Whatwouldyoudo,knowingthatthereisnobodywhocanhelp?Iamsurethatsomethingcomestomind.Applythat.Godoit.Donotbeafraidthatitturnsoutwrong.Ifthatdoeshappen,acceptitandresolvethatyouwillsucceednexttime.Independenceinfacthasapositiverelationshipwithyourself-confidence.Ifyoudonotdaretorelyonyourownstrength,youwillneverlearntotrustit,andactordecideindependently. Inshort,alwaystryityourselfbeforeyouconsultothers.Itisamatterofdoingit.Themoreoftenyoudoit,themorenormalitgets.Ifnecessary,startwithsmall,nodrasticsituations.However,neverapplythiswhenyoudonothavethefinalsay,orwhenothersalsohaveasayinthematter.
Dominance or Need for powerDominanceshouldbeseenastheneedforcontrolandpower,orwantingtohavethelastword.Accordingtosomeresearchers,theneedforpowerandcontrolcombinedwithanuncomfortablefeelinginasituationofdependencecharacterizeentrepreneurs.Thiscoverstheinternallydrivenmotivestobeanentrepreneur. Afterall,inentrepreneurship,youarenotonlytheboss;yougettoplayittoo.
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You are dominant when you: • Wanttoassertyourself,lead,organize,instruct,persuade.• Haveastrongneedforcontrol,andforimposingyourownstructureandconditions
towhichothersmustcomply.• Feeltheneedtoletothersbehaveastheywouldnotbehaveotherwise.
General description Need for PowerDominanceistheneedtohavecontroloverothers,imposingyourwillonsomeone.Dominancecanbeareasonforbeinganentrepreneur,asoneisthenincontrol. Successfulentrepreneursknowwhattheywantandhowtheycaninfluenceotherstoachievetheirowngoals.Inaddition,theyassumethattheirauthorityoropinionisaccepted.Stillthisdoesn’tsayanythingabouttheirleadershipstyle.Non-successfulentrepreneursaremodest.Theyprefernottobeintheforefront.
How can you increase Need for power?Youcanhardlychangeitifyourneedfordominatingisnotsignificant. Thatdoesnotalterthefactthatyoucanlearnhowtoinfluenceothersthough,howtoconvinceothersofwhatyouwanttoachieve.Afterall,youwantsomethingwithyourcompany,right?Howdoyouexpandyourinfluencingabilityandpersuasiveness?Thefollowingtipsmaybeabletohelpyouwiththat.Ithelpsofcourseifyouareacceptedasanexpert,suchasaprofessorbeingabletoexplainhis/herstoryeasily.Itisimportantthatyouhaveagoodstorywithsolidargumentsthatinfluencesandconvincesothers.Furthermore,youneedtobringthisstoryconvincingly,whichhastodowithhowmuchconfidenceyouhaveinyourownstoryandyourself.Howdoyougetthatcompellingstoryandyourunshakablefaithinyou?Putalltheargumentsandcounter-argumentsinarow.Convinceyourselfofthequalityofyouropinionandtheargumentsyouuse.Ifyoudonotbelieveinit,otherswillnoteither.Thendecidewhoyouraudienceortargetmarketis.Thatmakesadifference:youdonothavetoconvinceeveryone,justthosetowhomitisinteresting.Payattentiontothewayyouputit;ifnecessary,practiceinfrontthemirror.Practicemakesperfect.Byrepeating,yougetusedtoitanditwillbemucheasier.Thatpaysoff.Persuasionisaformofinfluencing.Intotal,therearefourtypesofinfluencing.InadditiontoPersuading,youcanalsoexertinfluencethroughUrging,ResearchandInspiration.Urgingisinsistingthatsomeonedoesordoesnotdosomething.Youtrytoimposesomethingonothers.Toachievethis,youneedtohavegoodarguments,sameaswith persuading.Inresearchandinspiration,youtrytomakeotherscurious,sothattheytakeactionthemselvesandstartdoingwhatyouactuallywantthemtodo.Goodargumentsdonotreallyhelpinthiscase,rathergoodquestions,interestingstoriesandattractiveimagesofthefuture.However,ifitdoesnotworkwiththehelpofresearchandinspiration,chancesarethatyouhavetoswitchto persuadingandurging.
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Social orientationSocialorientationsayssomethingabouttheneedforcontactwithotherpeople.Somepeoplearemorefocusedonideas,factsandevents.Othersfocusmoreonpeopleandalwayswanttobesurroundedbypeople,becausetheycannotstandbeingalone.Thelattergroupalsotendstobemorefriendlyandsociablethanthefirstgroup. Entrepreneursneedalittlebitofboth:“Onaverage,entrepreneursarenotalways sympathetic.Thisiseasytounderstand.Ifyouarealwayshelpingsomeone,someonewillendupabusingit.”Socialorientationisdividedintothreelevels:
• Youhavealowneedforsocialorientationifyoufeeluncomfortableinthecompanyofotherswiththeexceptionofafewclosefriends.Youmisstheneedorenergytomeetpeopleinsocialnetworksandgroupsandtoestablishcloserelationshipswithpeople,whichisnecessaryformanagersandentrepreneurswithstaff.
• Anaverageneedforsocialorientation.Thisisrelatedtoeffectivemanagement.Youwanttoandcanbeonyourownaswellaswithothers.Youdaretotakeunpopulardecisions,eveniftheyhavenegativeconsequencesforothers,toimplementrulestightlyandtopreferthosewhohavethebestpapersinsteadofonlypreferring peoplewithwhomyougetalong.
• Astrongneedforsocialorientation.Youliketoenterintorelationships;youdoeverythingpossibletomaintainrelationshipsormendthemifnecessary.Youliketoparticipateingroupsorsocialnetworksandenjoyactivitieswithfamilyandfriends.Youarelessgoodatbeingalone.Youwanttobelikedandacceptedbyothers.
Thequestionhereistowhatextentyouarefocusedonyourselforonyoursocial environment,otherpeople.Anaveragesocialorientationisrelatedtoeffective management.Thiswillalsoapplytoentrepreneurship.Afterall,itisacombination ofbeingfocusedonothersandatthesametimeonyourown. Thesocialorientationofanentrepreneurshouldbeseenasthemoderateneedfor closefriendships,forsecurity,solidarityand(continuously)beingsurroundedbyothers.Inotherwords,theentrepreneur,andcertainlytheself-employed,mustbeabletobe onone’sown.Atthesametime,onemustalsobeeffectiveindealingwithothers. Apersonwhoisabletohaveagoodchatgetsmoredonewithtradingpartners,banksandemployees.Thishasapositiveeffectonentrepreneurialsuccess.However,thissayssomethingaboutone’ssocialskillsandnotsomuchaboutone’ssocialorientation,whichshouldratherbeunderstoodasacharacteristic.
Coming together is a beginning; keeping together is progress; working together is success. Henry Ford
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General description Social OrientationSocialorientationistheextenttowhichapersonisfocusedonothers.Successfulentrepreneursunderstandthatpeopleandnetworksarenecessaryfortherealizationoftheirideas.Theyeasilymakecontactandtheyareguidedbycommercialconsiderationsintheirsocialactions.Inaddition,theycanputasidetheirsocialneedsandfocustheirattentionontheirbusiness.Soloentrepreneursoftenworkalone,whichcanbeverylonely.Unsuccessfulentrepreneursarereservedandcautiousinmakingcontact.
How do you develop Social orientation?Socialorientationisaninborncharacteristicanditsdevelopmentisthereforelimited.Itdoesnothavetobeaproblemifyoudonotliketobeinthecompanyofothers;youjusthavetomakesurethatyoukeepnetworkingsufficiently.Thatmighttakemoreeffortfromyou,butyouwillseethatyoufeeldifferentlyonceityieldssuccess.Becausewhetheryouaresellingaproductoraservice,networkingisthewaytofindnewcustomers,andtostaywellinformedaboutdevelopmentsinyourfieldandmarket.Whatisnetworking?Howdoyoudothat?Whatshouldyoudoandnotdo?Networkingistheestablishmentandmaintenanceofcontactsthatcanhelpyouandyourcompany.However,thatisonlyonesideofthecoin.
Networkingisgivingandtaking.Helpthepeopleinyournetworkaccess informationandnewcontacts.Thebasisofagoodnetworkistrust.Inprinciple,everyoneyouknowandofwhomyouhaveapositiveimpressionisyournetwork.Yournetworkisbiggerthanyouthink.Moreover,thecontactsfromyournetworkhaveaprivatenetworktoo.Byusingthisnetwork,youincreaseyourownnetwork.Ofcourse,youcanpurposefullyapproachpeopleforyourowngain,forexamplebycallingsomeoneforanappointmenttopresentyourproductsandservices.Nevertheless,chancesarethatthisiswhatyoufindsodifficult.Therefore,whatelsecanyoudotonetworkproperly?Afewtips.
Tips for good networking• Onlynetworkwithpeoplewithwhomyougetalong.Afterall,anetworkis
basedonmutualtrust.• Collectbusinesscardsandstoretheminasystem.Writeoneachcardwhere
youhavemetthepersonandwhatyoumightbeabletodoforeachother.• Knowwhatyouwantandexpressthat.Often,informationandcontactsa
utomaticallycomeup.Nevertheless,rememberthatnetworkingisalwaysmutual.Therefore,startbybrainstormingwiththeother:givebeforeyoutake.
• Keepupyourreputation.Forexample,donotforwardpeopletocontactsthatyoudonotthinkhighlyoforifyouquestiontheirmotives.Yournetworkwillholditagainstyou.
• Donotgrieveifnetworkingisnotdirectlyprofitable.Itoftentakesalittle longertopayoff.Sometimessomeoneofwhomyouhadnotexpectedit (anymore)visitsyou.
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Self beliefSelfbelieforefficacyreferstopeople’sbeliefinthecontrolovereventsintheirlives.Doesthatcontrollieontheinsideoroutsideofthem?Therearepeoplewhobelievethattheystandatthehelmoflife,thattheyhaveaninfluenceonwhateverhappens.Othersbelieveyouonlyhavelimitedimpactonthings;lifehappenstoyouandyoushouldlearntocopewithitasbestasyoucan.Isitamatterofluckordoyoucontrolhappiness?Canyouenforcehappiness?Isthecontrolinternalorexternal?Youareeffectivewhenyou:
• Perceiveaneventasanoutcomethatiswithinyourpersonalcontrolorthathas originatedbecauseofyourownefforts.Youareineffectivewhenyouperceiveaneventtobebeyondyourpersonalcontrolorwhenyouthinkthataneventisnotcausedbyyoureffortsbutbyluckorfate.Afterall,ifyoudonotbelieveinthe outcome(success)ofyour‘undertaking’andifyoudonotbelievethatthisoutcomeiscausedbyyourownefforts,youwillprobablynothaveagoatthatriskystep. Thetermself-confidenceisalsousedinrelationtothis.
• Selfbeliefdistinguishesbetweenpeoplewhothinkthattheythemselveshavecontroloverpersonaleventsintheirlives,simplycalled‘internals,’andpeoplewhothinkthatpersonaleventsintheirlivesareinfluencedbyfactorsoverwhichtheyhavenocontrol,simplycalled‘externals.’Internalsbelievetheycaninfluencetheirsurroundingsbyusingtheirabilities,whileexternalsbelievethatfactorssuchasluck,chanceorpowerfulpeopleandinstitutionshavetheupperhandinmostoftheeventsintheirlives.Internalshaveagreaterperformancedrive,andtheyaremorelikelytoadaptandtolearn.Thismeansthatinternalslookfortheimpactoftheirownbehaviorontheenvironmentmoreactivelythanexternalsdo.
Yourneedforachievementdeterminesthedirectioninwhichyourcompanyneedstogobysetting(ambitious)targets,accompaniedbyanenormousdrive(motivation)toachievethatgoal.However,youwillprobablynotreachthatgoalwithoutselfbeliefandthusconfidenceintheoutcomeresultingfromyourownefforts.
Thereareentrepreneurswhoaresuccessful,butwhodonotdirectlyattributethistotheirowneffectivenessandwhoratherclaimitisluckoreven‘God-given.’Someentrepreneursrealizethattheirsuccesscannotbeachievedthankstotheirownactionsonlyandtheythusseekanexplanationbeyondthemselves.Theyarewellawareoftheirprivilegedpositionandtheyaresometimesevensurprisedatthesuccessthathasbefallenthem.Theyfeelasiftherehasbeen(yet)anotherforcethathashelpedthem.Still,thatdoesnotsaythattheentrepreneursdonot(largely)owetheirsuccesstotheirselfbelief.Whatwouldhavehappenediftheyhadnotbelievedinit?Wouldtheyhavepersevered?Wouldothershavedoneso?Evenifentrepreneursdobelievethattheyhavesucceededlargelythankstotheirownknowledgeandskills,theymightnotwanttowalkaroundbrandishingit.
EntrepreneurHenryFordofthecarbrandofthesamenamealreadyunderstoodthatitmatterswhatyouthink.Herightlyarguedthatifyouthink‘Icandoit’or ‘Icannotdoit,’youarerightineithercase.
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General description Self beliefPersonalefficacyisthebeliefinone’sownabilitiesandtheconfidenceinrelationtoothers.Successfulentrepreneursareconfidentthattheycanachievetheirgoalsontheirown.Theyareconvincedthattheyareabletofinishanyjobandthattheirsuccessdoesnotdependonothers,butonthem.Theyalsobringthatconfidenceintheirrelationshipwithothers,eventhoughtheyarericher,moreimportantormorepowerful. Unsuccessfulentrepreneursbelieveintheirownstrengthlessandlivewiththeideathattheirsuccessdependsoncircumstances.
How do you increase your Self belief?Toworkandliveeffectively,itisnecessarytodetectblockages,hiddenbeliefsandthwartingemotions,andtoturnthemintothoughtsandfeelingsthatcomeinhandy.Youdothisbychangingthewayyouthinkaboutyourself,becauseitislargelyabouthowyoulookatyourselfandhowyoufeelaboutyourself.Youdonotdaretorelyonyourselfbecauseyouhavedeludedyourselfintobelievingthatyoucannotdosomething.Thatisjustwhereitbegins:thosenegativethoughtsaboutyourself.Thequestioniswhetherthatisthecasebecauseyouthinkyoucannotperformthatparticulartask,orbecauseyouthinkyoudonotknowhowtoperformit?Ifthelatteristhecase,itactuallymeansthatyouhaveinsufficientknowledgetobeabletostart.
Thefactthatyoudonotknowhowtostartstopsyoufromstarting.So,ifyoufindoutwhatyouneedtoknowabouthowtoperformthatparticulartask,howyoushouldtackleit,ittakesawaythethreshold.Onthecontrary,ifitisthefirstoption(youthinkyoucannotdoit),itisimportanttolookatwhatisbehindit.Youhavetofindoutwhatthoughtsandfeelingsbotheryou.Thoughtsandfeelingsthatmakeyouthinkthatyouarenotcapableofsomethingarealsocalledblockagesorobstacles.Afterall,thosethoughtsandfeelingsdonottakeyoufurtheranddonotmakeyouexudeconfidence.Howdoyoucopewiththem?Howdoyougetridofthosedoubts?Itisnoteasy,butnotimpossibleeither!However,eliminatingtheseobstaclesindependentlyisadifficulttask.Withsomeoneelsewhospecializesinit,itgoesmucheasierandbetter.
Ifyoustillfirstwanttotryityourself,itisimportantthatyoumakeclearexactlywhatthoughtscausethefeelingthatyoucannotperformaparticulartask,thatyouarenogood.Onlywhenthatthoughtisclear,youshouldmakeclearwhatyoufeelwhenyouthinkthatthought.Nowitisimportanttocounterbalancethenegativethoughtaboutyourselfwithapositivethoughtinwhichyoubelieve.Byendlesslyrepeatingit,youreplaceyouroldnegativethoughtwithanewpositivethought.Ittakesawhile,butyouwillseethatyoulookatitmorepositivelyandyouwillfindthatyouhavenothingtofear.Whosaysthereissomethingyoucan-notdo?YOU,right?Therefore,onlyyoucanreplaceyournegativethoughtwithapositiveone.Havingproblems?Thenuseanexperiencedcoachwhohelpspeopletobemoreeffectiveonadailybasis.
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Endurance or PerseveranceManyentrepreneursindicatethattheyfindenduranceimportanttothecontinuityof thebusiness.Thatiseasytoimagine,especiallyconsideringthemanysetbacksthat entrepreneurshaveontheunbeatenpath.Withthesaying‘ifthereisawill,thereisaway,’itisalsoeasytoimaginethatentrepreneurswithperseveranceandthewilltobuildasuccessfulbusinesswillfindawaytoit.Whenthingsarenotgoingwellandoneisactuallyabouttogiveup,one’sperseverancewillkeeponeonone’sfeetandone’sperformanceorientationwillkeeponefocused.Youareago-getterwhenyou:
• Havediscipline,havetheabilitytodominate,aregoal-oriented,feelpersonallyresponsible,persevereintasksespeciallywhenthesearedifficultandphysicallydemanding,aredeterminedandaretenacious.
• Persevere,likefairandconstructiveformsofcooperationandpreferworkthatenablesquietdedicationandregularcommitment.Thatmakesthesepeopleemotionallystablebutitmayalsoaffecttheirflexibility;theymaycomeacrossasrigid.
Ihavetalkedwithmanysuccessfulentrepreneurs.Withoutexception,theyhaveallhaddifficultperiods.However,bytheveryactofperseveringatthosetimes,theyhavemadeprogress.
General description EnduranceEndurancemeanscontinuingpowerfullydespitesetbacksorobjections,preciselywhenthegoinggetstough,alsointhelongerterm.Successfulentrepreneurshavegreat perseverance.Withacleargoalinmind,theyeventuallyovercomeeverybump.Evenwhentheydonot(directly)makeprogress,theypersevere.Theyworkhardanddonotletgountilthegoalisreached.Non-successfulentrepreneursoftenhavealackof willpowerandarequickertohidebehindfatigueorboredom.
How do you increase Endurance?Enduranceisatrait.Thecharacteristicofatraitisthatitishardtolearn.Youarebornwithit,moreorless.Theonehasthatmorethantheotherdoes.Howcanyoustillimproveyourperseverance?Thefollowingtipsmayhelpyou:• Makesuretohaveaclearvisionandthewilltorealizethisonlytoohappily.
Thecleareryourvisionisofwhatyouwanttoachieve,theeasieritisto persevere.Afterall,youknowforwhatyouaredoingit.
• Takealltheworkyouhavetodotoachieveyourvisionandsubdividetheminverysmallstepsthatarewellarrangedanddonotseemsobigthatyoualreadydonotfeellikeitinadvance.
• Concentrateonlyonthestepinfrontofyou.• Rewardyourselfaftereachstep.• Createspaceintherealizationofeachstep.Thisgivesmoreflexibilityto
finisheachstepsuccessfully,andtoensurethatyoudonotthinkitisnot goingtoworkinadvanceandthatyouthrowdownthetowelprematurely.
• Everyday,trytodomorethanyouhadactuallyenvisioned.• Enjoyeverystepyouhavetaken;consideritforamomentandbeproud
ofyourself!
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I don’t measure a man’s success by how high he climbs but how high
he bounces when he hits bottom.George S. Patton
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Risk takingSuccessfulentrepreneurstakecalculatedrisks,asmanybooksdescribe.Whatisacalculatedriskthough?Doesitmeanthatallrisksareidentifiedsothatitisknownwhatrisksoneruns?Alternatively,doesitmeanthattheentrepreneurknowswhatrisksonerunsandhowtodealwiththem?Athirdmeaningcouldbethattheentrepreneuroneselfisresponsibleforone’ssuccessandthatonereducestheriskoffailurethoughone’sown(entrepreneurial)behavior.
Startingabusinessisseenasariskyactivity.Thatisagivenwithwhichyouasanentrepreneurhaveto(learnto)deal.Whatoneseesasrisky,theotherexperiencesasanopportunitynottobemissed.Thatsamepersonmaynaturallybequiterisk-averse,butiftheriskoffailureisnotseenbecausethechanceofsuccessdominatesintheimagination,theriskdoesnotneedtobeavoided.Thus,itispossiblethatapersondoesnotseetherisk.Therearethreecausesforthis:thereisfirsttheoverconfidenceresultingfrom overestimatingone’sownknowledgeandskills.Secondly,thereistheillusionorwrongfulconvictionthatonecaninfluenceeventsinwhichluckplaysamajorrole.Finally,thereisthebeliefinthelawofsmallnumbers,whichmeansthatonewilldrawconclusionsbasedontoosmallsamplesorlimitedinformation.Anexampleofthisissomeonewronglytranslatingthreeenthusiasticreactionsfromfriendstoone’snewinventionintotheconclusionthattheentirepopulationwillbecharmedbyone’sinvention.
Entrepreneurialpeopleareactiverisktakers.Theyproactivelyobserveopportunitiesanddosowithenergy,initiativeandwillingnesstoachievethedesiredoutcomeofanopportunity,despitetherisksattachedtoit.Theirgoalsaremorefocusedonimprovingtheirlivesthanonpreservingthestatusquo.Thispositiveattitudetowardsopportunities,andthusthefaithandconfidenceinthepositiveoutcomeoftheopportunity,entailsaproactiveattitudethatischaracterizedbythewillingnesstoseizetheopportunitydespitetherisksoffailure.Itisthebalancebetweenthebestpossibleprofitandaslittledamageaspossible.Sooneroreventually,entrepreneurialpeoplearepulledbythe potentialpositiveoutcomesandthustheprofit,whilenon-entrepreneurialpeopletendtofocusonthenegativeimpactoftheoutcome,andthusthepotentialdamage.Non-entrepreneurialpeoplearemorepassiveintheirapproachtorisk.Theyoftenrespondonlytotheriskstheyfaceandcannotignore.Theirbehaviorisfocusedonreducingthepotentialdangersoftherisks.
ConclusionRiskisinherenttoentrepreneurship,butisstronglyconnectedwiththepersonwhoperceivesit.Somethingmayseemveryriskyforoneperson,whilethesameis-rightlyorwrongly-notperceivedassuchforthosesubjectedtoit.Inaddition,riskisconnectedwiththeuncertaintyabout(future)outcomes. Whenrunning/startingacompany,thereisuncertaintyaboutthefuture,thedevelopmentofthemarket,theprofitabilityofthecompanyandone’sownincome.Thatisagivenwithwhichyouasan(starting)entrepreneurhaveto(learnto)deal.Itispartofyourjobasanentrepreneur.Remember,althoughtherisksarecalculable,italwaysremains uncertainwhatactuallywillhappen.Takingrisksmeans,aboveall,tobeabletodealwiththisuncertainty.Riskisrelativetowhomissubjectedtoit,anditisthusalso connectedwithuncertainty.However,thetrueessenceofentrepreneurshipespecially
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liesinseeingopportunities,andthetendencytoseizethemratherdependsonthevision,creativityandperseveranceofanentrepreneurthanthewillingnesstotakerisks.Todealwithunknownssuccessfully,theentrepreneurmustpossessvision,confidence,decision-makingpowerandthepowertoassesscapacitiesofyourselfaswellasothersproperly.
“Ifyouhavenofaithinthefuture,youhavenofaithinyourself”
General description Risk takingRiskappetiteistheabilitytodealwithuncertaintyandthewillingnesstotakealoss.Successfulentrepreneursareactiverisktakers.Theyproactivelyobserveopportunitiesanddosowithenergy,initiativeandwillingnesstoachievethedesiredoutcomeofanopportunity,despitetherisksinherenttotheperceivedrisk.Theirgoalsaremorefocusedonimprovingtheirlivesthanpreservinglifeasitis.Unsuccessfulentrepreneursarepassiverisktakers.Theyapproachrisksmorecautiouslyanddefensivelyandtheyoftenonlyrespondtowhattheyfaceandcannotignore.
The only certainty you have is you
How do you increase Risk taking?Withrisktaking,itismainlyaboutknowingwhatrisksyourun,apartfromthefactwhetheryouwanttorunthatrisk.Thismeansthatyoushouldidentifyalltherisksassociatedwithadecision.Thiscanbestbedonebymakingariskanalysis.Youdothisbywritingdownallthedangersandconsequences,andbyindicatingwhatriskyourunineachdangerorconsequence–afinancialoneoranemotionalone.Financialriskscanbecovered.Therearespecialistswhocanhelpyouwiththat.Itiscompletelydifferentwithemotionalrisks.Whenyounoticeanemotionalriskistoobigforyou,youcandothefollowing:putthingsinperspective. Imaginethatyouhavemadethedecisionandthatitgoeswrong.Letthefeelingcomeup.Makeitworse,andthentrytoaskyourselfwhatexactlyissobad.Whatisitthatyoureallycannotstand?Istherenoothersolution,notevenwhenyoumakeaneffortandarecreative? Nomatterhowbaditgets,youwillalwaysfindawayout,right?Infact,thatiswhatitisaboutwithrisktaking.Nomatterwhatriskyourun,youtrustitandyouknowthatyouwillfindasolution,andthatultimately,onceithappens,itisnotsobad.Thepointisthatyou,onceitgoeswrong,starttolookatitdifferently.Youneedtothinkintermsofsolutionsandinpossibilities.Itiscalledputtingthingsinperspective,whichmakesrisks,seeminglyhugeemotionalrisks,seemsmaller.
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4.2.2 The thinking styles: which do you prefer?
TheelementPersonalcharacteristicsdoesnotonlyconsistofcharacteristics,butalso ofthinkingstyles.AccordingtothetheoryofHerrmann(1996),thinkingstylessay somethingaboutwhatyouthinkaboutandhowyoudoso.Yourthinkingstyleaffectsthebehavioryoushow.Therearefourdistinctentrepreneurialthinkingstyles:Pioneer,Salesperson,ManagerandSpecialist.Everyentrepreneurhasallthinkingstylesinoneself,butalsohasanaturalpreferenceforaparticularthinkingstyle.Thatisthethinkingstylethatusuallyprevailsanddetermineshowyouthinkandact.However,timeandagain,thesituationdetermineshowthefourthinkingstylesworktogetherandconsequently,howyoubehave.Therefore,itispossiblethatyouresponddifferentlythanyoumightexpectbasedonyourpreferenceforanentrepreneurialthinkingstyle.Thefollowingsubchapterswillelaborateonthefourthinkingstyles.
Pioneer
Manager Salesperson
Specialist
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The (experimental) PioneerThethoughtsofthepioneersaredominatedbypossibilities.One“lives”inthefuture,andhasalong-termvision.Duetoone’sstrongimaginationpower,oneoftenalreadyimaginesthewholepicture,whileothershavenoideayet.Thepioneerthinksplayfully,quicklyandoftenbeyondsetlimits.Onestandsoutbecauseofapassionate,optimistic,sometimesnaivestyle.Onehastheabilityeithertoturnasituationintochaosortopullitoutofchaos.Thisisbecauseonecanshedanewlightonexistingmattersandonecantransformapparentlyillogicalproblemsintosolutions.Thepioneercangettogreatheightsinchaoticsituations,butlosesoneselfinsituationsoforderandindailypractice.Oneisboredeasilybyroutineandhaslittleattentiontodetails. One’sbigmotivationisgettingrecognition.Onestandsoutbybeingdifferent.Insituationsofchaos,onegetsthatchance.Whileothersaccepttheimpossibilitiesorroutineofthesituation,thepioneerconstantlywonderswhythingshappenastheydoandwhyitcannotbedifferent.One’sideasaboutdifferentorbetterarelimitedonlybyone’simagination.
How do you develop the thinking style of a Pioneer?Youcantrainyourbrainandthereforeyourthinkingstyles.Obviously,yournaturalpreferenceforathinkingstylewillcontinuetoprevail,butyoucandevelopthestyleofthinkingthatyouusuallydonotapplythroughpractice.IfthethinkingstyleofPioneerappliestoyouless,youcandevelopthatbydoingthefollowingexercisesregularly:
• Designalogoforyour(future)businessyourself.• Imaginewhatyourbusinesswilllooklikein10years,andtrytodothatas
detailedaspossible.• Makeadecisionbasedpurelyonyourfeelings;useyourintuition,orthe
(very)firstthingthatcomestomind.• Developanewproductorapplicationforyourbusiness.• Inventatleastonecrazyideaperdayandexecutetheideaifyoucan.• Thinkofatleastfivesolutionstoaproblemthatyouencounter.• Createametaphorfortheproductsandservicesofyourcompany.• Dosomethingyouhaveneverdonebefore;• Predictwhatwillhappennextyearandwriteitdown.
The (sensitive) SalespersonThesalespersonlovespeopleandisfocusedondevelopingrelationships.Oneoftentrustsone’sfeelings.Onehasgreatinterestinthepeoplearoundoneandiscommittedtomakingcontact,thoughonemaybeguidedbybusinessconsiderations. Oneunderstandstheneedsofthecustomerbetterthananyonedoes.One’sbigmotivationisacceptancebythesurroundings.Preciselythistypeisfocusedontheother.Aslongastheothersarehavingfun,onehassotoo.Sellingproductsorservicesmeansmatchingtheneedsofthecustomer.Oneworkswellinharmonioussituations. Init,oneconstantlyseekswin-winsituations.Thesalespersonlikestodosomethingforothers,becauseitincreasesthechanceofacceptance.Thatmakesthistypeloyal,flexible
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andenthusiastic.Ithappensthatotherstakeadvantageofone.Onetendstoavoid conflictsandonecannottoleratecriticism;onewilltakeitpersonally.Thismeansthatoneisincapableofmakingrapid,hardorrationaldecisions.Oneismoreconcernedaboutwhoexperiencestheconsequencesinsteadofrealizingwhatthebestdecisionis.
How do you develop the thinking style of a Salesperson?Itispossibletotrainyourbrain.Youcandevelopyourpreferenceforacertainthinkingstyleaswellasthethinkingstylesthatarelessnaturalforyou.Ifthe thinkingstyleofSalespersonappliestoyouless,youcandevelopitbydoing thefollowingexercisesregularly:• Maketimetolistentoyourfavoritemusic.• Shareyourfeelingswithpeopleyoulove.• Takeagoodlookatthecolorsinaroom,tastetheatmosphereanddescribeit.• Dosomethingthatevokesstrongemotionsinyouandsharethiswithpeople
withwhomyougetalongwell.• Eachday,trytomeetandhaveaconversationwithanewperson.• Trypayingattentiontoyourpostureandhowyoucomeacrosstoothers:
howdoothersseeandexperienceyou?• Helpaco-workerorfriendwithone’sassignmentorproblem.• Organizeapartyorcasualgathering.• Makeadecisioninwhichyoutakeintoaccounteveryone’sneeds.• Haveaconversationwithsomeonewhenwalkingonthestreetorwhen
waitingsomewhere.• Practicetellingstories.• Makesureyougetgoosebumpsregularly.
The (conservative) ManagerLikenoother,themanagerisabletowatchthecompany.Throughone’ssearchfor certainties,oneattachesgreatimportancetorulesandprocedures.Focusedonthe shortterm,onekeepstheoverviewinanotherwisechaoticsituation.Onelikestostayincontrolandseeksorder.Onestructuresthecompanyintoanefficientlyoperatingenterpriseandascheduleisdrawnupforthesmallestdetail.Littleislefttochance.Onestructurestheworkintoaflawlesslyrunningbusiness,inwhicheveryoneknowsone’sdutiesandauthorities.However,whenchangesloom,themanagerisatanutterlossbecausetherulesaresuddenlynolongerusable.Onetrulylikestouserulesthathaveproventheirsuccessandstickstothemrigorously. Onedoesnotlikechangeandinsiststhateveryoneabidesbytherules.Ifnot,acommentwillinevitablyfollow.Oneacceptsthatthingsshouldbedoneastheyhavealwaysbeendone,eventhoughitdoesnotcomplywithone’sownidea.Onehasasenseofresponsibility.Onetakescareofmatterstoperfection.Thatmakesthemanagerloyalandapersonofintegrity.
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How do you develop the thinking style of a Manager?Youcandevelopyourbrainandyourthinkingstyles.Afterall,learninghappensinyourbrain.IfthethinkingstyleofManagerappliestoyouless,youcandevelop itbydoingthefollowingexercisesregularly:
• Makea‘ToDo’listandcheckoffwhatyouhavedone.• Createyourownbusiness(house)rulesandproceduresonhowone
shouldactorwork.• Cometoanappointmentearlierthanplanned.• Keepalogofthethingsyoudoeveryday.• Organizeorreorganizethefoldersinyourcomputerorcleanyour
deskaccordingtoacertainstructure.• Tryworkingoutthedetailsofaprojectortaskthatyouaredoing.• Lookattherisksanddangersofadecisionthatneedstobemade,
withouttakingintoaccountyourfeelings.• Puttogetheryourincomeandexpensesofacertainperiod.• Choosesomethingthatyouhavebeenputtingoffandfinishitnow.• Setprioritiesfortheweekorday.
The (Analytical) SpecialistThespecialistiswellinformedaboutalldevelopmentsinone’sfield.Oneknowsalltheinsandoutsofone’sprofession.Oneformsanimageofeventsfromone’sexperienceandknowledge,causingonetocometotherightdecisionindependentlyandrationally.Onealwaysdishesupthebestalternatives.Thespecialistisindividualisticandrealistic.Onedistinguishesoneselfbythedesiretobethebest,atleastinone’sfield.Oneisoftencriticalandmustfirstbeconvincedthatsomethingworksbeforeonetrustsit.Onepridesoneselftoknowitbetterortobebetterable.Onetakesrealityasagivenandtriestoperformthebestonecan.Thedisadvantageofthistypeisthatonecanhaveaperfectionistic andsometimesalsoauthoritarianattitude. Whenitcomestoone’sprofession,onedoesnotavoiddiscussion.Deliveringqualityisatoppriorityforthespecialist.Communicatingand interactingwithpeopleismore difficultforoneandconsequently, sellingisnotreallyone’scupoftea.Onebelievesagoodproductwill sellitself.
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How do you develop the thinking style of a Specialist?Itispossibletotrainyourbrain.Youcandevelopyourpreferenceforacertainthinkingstyle(further)aswellasthethinkingstylesthatarelessnaturaltoyou. IfthethinkingstyleofSpecialistappliestoyouless,youcantrainitwiththefollowingexercises:
• Examineanannualreportofacompany,preferablytheannualaccountofyourownbusiness,withoutdirectlyworryingaboutwhatexactlyitsays.
• Calculatethetimeittakesyoutomakeaproductordeliveraservice.• Learntoworkwithasoftwareprogramandthenexplainsomeoneelsehow
itworks.• Setsometargetsforthisyear.• Performastatisticalanalysisof,forexample,howmanyclientsyouhaveto
selltoperdayorweekinordertorealizeacertainturnover.• Foradecisionyouhavetomake,putallthefactstogetherandweighthepros
andconsofthedecisioninasystematicway,forexamplebygivingitpointsofimportance.
• Evaluateanemotionaldecisionthatyouhavemadeinarationalway.• Writedownyourcriticismonthingsthatyouthinkarenotgoingwellin
(thestartof)yourcompany.• Inmakingadecisionthatadverselyaffectsanother,playthepartof‘devil’s
advocate,’orcriticallyviewthedecisionfromtheviewpointoftheotherperson.
• Loseyourselfintheoperationofadeviceandaskyourselfhowitworks.
ConclusionPersonalcharacteristicsasthesecondelementoftheentrepreneurialcompetenceareshapedbycharacteristicsandthinkingstyles,andarenecessaryforthecontinuityofthecompany.ThemaincharacteristicsareNeedforachievement,Needforautonomy,Dominance,SocialOrientation,Selfbelief,EnduranceandRisktaking.Thinkingstyleslargelydeterminefromwhichangleasituationorissueisapproachedandtheythuslargelydeterminethebehaviorshown.Fourthinkingstylesforentrepreneurshavebeenidentified:Pioneer,Salesperson,ManagerandSpecialist.Everyentrepreneurhasallthinkingstyles,buthasanaturalpreferenceforoneormorethinkingstyles.
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Be different Show what
you got
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4.3. Qualities: what can you do well?
Figure5:Thirdelementofcompetence:qualities.
Qualitiessaysomethingaboutwhatyoucandowell.Qualitiesarethusnotthesame ascharacteristics.Thecruxofthedifferenceliesintheabilitytolearnit.Characteristicsareafairlyfixedgivenandarethereforenoteasytochangeorlearn(inashorttime).Qualitiescanbelearnedmoreeasilyandquickly.Trainingsfor,forexample,creativityandleadershiphaveproventhat.Youcanprobablyimaginethatyouneedotherqualitiesforthestartofacompanythaninthephaseofstronggrowth.Aninventorcanmakesomethingoutofnothing.Oneisatruestarter.Nevertheless,howwillitgowiththepioneerwhentheideaisviable,whenstaffshouldbehiredandaworkableorganizationshouldbesetup?Thepioneer,whowasfiddlinginone’sshedsobrilliantly,nowhastomanageallofasudden.Nottheuniqueproductiscentral,buttheeffectivenessofthebusinessorganizationis.Marketingcomesintoplayandtheartofcooperationistobepracticed.Ifoneisnotaverygoodmanager,onehasanimportantdecisiontomakeasoneneedstoputsomeonewhoisabettermanagerattheheadofone’scompany.Inotherwords,thispersonissomeonewhoismoresuitedtothenewsituationinwhichone’sfirmfindsitself.Thisway,everyphaseofacompanyrequiresdifferentqualities.
Inshort,organizationsgroworshrink.Asanentrepreneur,youshouldfollowtheascendingordescendingmovement.Thismeansthatyourrolecanchangesignificantlyovertimeandthatotherqualitiesareconsequentlyrequiredofyou.Intotal,acompanycangothroughfourphases:theEarlyphase,theExpansionphase,theAdultphaseandtheContractionphase.ThefourphasestogetherarecalledtheBusinessLifecycle.Thesephasesareimportanttothequalitiesneeded,whichalsodifferperphase. Beforediscussingthequalities,thecontentsofthedifferentphasesofacompanyareexplainedbelow.
characteristic
s
know
ledge motivation wantingknowing
being
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doing
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QUALITIES:W
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Thebusinesslifecyclegenerallyhasfourphasesofdevelopment:nogrowth,modestgrowth,stronggrowthanddecreasinggrowth.Acompanycangothrougheachphasemorethanonce.Afteraphaseofdeclininggrowth,aphaseofmodestgrowthmaycome,followedbyaphaseofstronggrowth.Thus,onespeaksofacycle.ItlookslikeanS-curveasshowninthefigurebelow.Bothascendinganddescendingmovementsarepossible.
Thefirstphaseiscalledtheearlyphase.Youusuallystartsmall.Mostattentionispaidtobuildingandorganizingthecompany.Onestillhastotakecareofmanypracticalissues.Usually,thereisnogrowthyetandonestillhastostartfindingcustomers.
Theinitialgrowthisemergingoncethedemandforproductsorservicesincreases.Thisgrowthdoesnothavetobealogicalconsequenceofyourefforts.Growthoftenoccursbychanceandsometimes,youareevenoverwhelmedbyalargeorder.Thismaymeanthat thefirstemployee(s)mustbehired.Thecompanyheavilyreliesonyouasanentrepreneur.
Stronggrowthemergeswhenthecompanyconnectswiththemarket.Businessmanage-mentbecomescomplexandyoulosetheoverview.Aneedforclearrulesandaclearstructureincreasinglyarisesfromtheorganization.Tasksandresponsibilitiesshouldbedelegated.Thecompanybecomeslessdependentonyouasanentrepreneur.
Sometimes when you innovate, you make mistakes. It is best to
admit them quickly, and get on with improving your other innovations.
Steve Jobs
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Duetothesmoothorganization,thecompanylosestouchwiththemarketandgrowthdeclines.Thephaseofdecreasinggrowthorcontractionphasecanoccuranytime. Forexample,ifgrowthdeclinesafterthefirstphaseofgrowthandnothingisdone, thiscanresultintheterminationofthecompany.
Thetransitionfromonephasetoanotheroccursbecausetheexistingstructurecannothandlefurthergrowth.Thetransitionsaredifficulttoidentify.Youcanfeelthemasanentrepreneur,buttheyarenotalwaysvisible.Sometimes,aconflictisnecessaryforthecompanytobeabletotakethenextstep.
Figure6:businesslifecycle.
I No growthII Small growthIII Strong growthIV Decreasing growth
Time
Common companylife cycle
Possible companylife cycle
Com
pany
siz
e in
rev
enue
s
I II III IV
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Thecycleoffourphasesdoesnotonlyrelatetothedevelopmentofthecompanyonceithasstarted,butitcanalsobeappliedintheperiodthatprecedesthestartofacompany.Duringthestartupofacompany,thereareroughlyfourphasesaswell:
Before the start: From idea to start.
The concept phaseTheprocessleadingtoa(successful)businessstartswithanideaor,ifyoulike,aconcept.Theideaispresentinyourimaginationalotandinthisphase,itisthegreatchallengetogiveshapetothestillvagueideaconcretely.Thismaybethedrawingortheproductionofaprototypeoradetaileddescriptionofaservice.Thisbusinessphaseischaracterizedbyfantasizing,thinkingandimagining.Youareobsessedwithyourideaandthepossibilitiesitoffers(theEurekafeelingispresent24hoursaday:isthisthegatewaytosuccess,fameandfortune?).
Thereareentrepreneurswhonevergetbeyondthisphase.Theyarepioneersatheart,theycallthemselvesinventorandtheydeviseingenioussolutionsoneafteranother.Oncetheirideahasreachedthephaseofprototype,theyletitgoassoonaspossible,preferablybysellingtheideatoa(production)companyformuchmoneyofcourse.Unfortunately,most‘genius’ideasdieinbeautyastheyturnouttobeunworkableinpractice,tooexpensiveornotasgeniusastheinventorhadthoughtinitially.Thetruepioneerwillnotbeputoffbythis:onestartstoworkonanewidea,butnowonethatisgenius!
The product phaseTheinitialreactionstothe(prototype)productorserviceareofgreatimportanceforsharpeningit.Friendsorpotentialclientsactasguineapig.Beingabletoempathizewellwiththeexperienceofthecustomerandbeingabletolistenarequalitiesneededinthisphase.
The planning phaseThefeelingthathasaclearroleinpreviousphaseshastogivewaytoamorerationalviewontheproductandthemarketonwhichyouaregoingtofocus.Choiceshavetobemadeandabusinessplanshouldbedrawnupshowingthefeasibility(boththe combinationproduct-marketandthefinances).Beingabletoworksystematically andbeingabletoworkoutthingsindetailareimportant.Understandingthemarket (marketing)andsomenumeracyskills(administration)arepreferred.
The start or stop phase Thetimehascomethatthecompanyisactuallystarted.Itisalsopossiblethatthestartiscanceledbecause,inretrospect,theoriginalideaprovesnottobeviable.Thequestionwhethertostartrequiresanobjectiveopiniononthefeasibilityoftheplan.Thisrequiresanindependent,criticalandanalyticalview.Themindreignssupremeinthisphase.Throughtargetedquestions,itbecomesclearwhatgapsexistintheplanandwhatneedssomesharpening.
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Figure7:Thefourphasesofstartingacompany.
After the start: From startup to fall down
Oncethecompanyisafact,thesamecycleasinpreparationawaitsyouasanentrepreneur.Preparationmighthavetakenhalfayearuptooneandahalfyears,buttheideaisthattheexistenceofthecompanywilltakealittlelonger.Fortunately,thephasesgoabitslowerandsmoother.Therefore,youhaveplentyoftimetorespondtothedifferentphases.
Unfortunately,practiceshowsthattimeisnotenough.Youshouldalsorecognizethatyouareenteringanewphaserequiringdifferentqualities.
Early phaseTheinitialphasehasnogrowthandischaracterizedbychaosmainly.Theyoungcompanyisanewstrangerintheareaandyouespeciallyhavetopioneertogetyourbusinessstarted.Dynamics,uncertaintyandchaoscharacterizethestart-upcompany.
Expansion phaseThecompanyisinharmonywiththeenvironmentoncethefirstsaleshavebeenmadeandtheproductorserviceseemstocatchon.Thenitbecomescrucialtointensifythesaleseffortsandtoactdecisively.
Mature phaseThestrongertheorganizationgrows,thestrongerthedesireistokeepthatgrowthundercontrol:keepeverythingrolling.Preciselybymanaging,theorderwithintheorganizationcanbepreserved.Thankstostrongmanagementandthusanorderlyorganization,itispossibletotakefulladvantageofthefavorablemarketandtomaximizeprofits.
Contraction phaseHowever,asleekorganizationadaptslesseasilywhenthemarketchanges.Growthisdeclining,bythearrivalofacompetitor,forexample,orbychangesincustomerneeds.Soonaconflictemergesforwhichyouneedtofindananswer.Anobjectivepictureofthedeterioratingsituationshouldbeformed.
plan phase product p
hase
go
/ no
-go phase concept phase
Role: SpecialistCharacter: Judge
Role: PioneerCharacter: Think
Role: ManagerCharacter: Do
Role: SalespersonCharacter: Feel
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AgainThecontractionphasemayendintheendofthecompany,forexample,becauseithasgonebankruptorbecauseithasbeentakenoverbyacompetitor.However,ifyourcompanyis(still)vital,thecycleabovecanstartoveragain.Thismayhappeninmanyways,forexample,bytakingoveracompetitoryourself,creatinganewcompany. Chaosisthestartingpointagainandmuchpioneeringshouldbedone(again). Inaddition,anewproductorserviceisanoption,aspartoftheexistingcompany,orasanewsubsidiaryorsistercompany.Tappingintoanew(foreign)marketisalsoaperfectsteptoturnthecontractionphaseintoanewpioneeringphase.
Figure8:Thefourphasesafterthestartofacompany.
Thefourphasescarrywiththemcertaincharacteristics.Forinstance,theearlyphaseischaracterizedbychaos,whilethematurephaseischaracterizedbyorder.
Inthosecharacteristicphases,anotherroleorthinkingstyleisalsorequiredofyou.Forinstance,thechaoticearlyphaserequiresthethinkingstyleofthepioneer,thesales-orientedexpansionphaserequiresthesalesperson,thecontrolledmaturephaserequiresthemanagerandfinally,thecriticalcontractionphaserequiresthespecialist.Nevertheless,thethinkingstylesarealsowellreflectedinthephasespriortothestart.Theideaphaserequiresthethinkingstyleofthepioneer,theproductphaserequires thethinkingstyleofthesalesperson,theplanningphaserequiresthethinkingstyleofthemanagerandfinally,thephaseinwhichitisdecidedwhetherthecompanyisgoingtobestartedornotrequiresthequalitiesofthespecialist.
Inthenextparagraph,themostimportantqualitiesoftheearlyphaseandthematurephaseofacompanyaredescribed.
Early phaseCharacter: ChaosRole: Pioneer+ Creative+ Independence- Planning & organizing- Financial accounting
Mature phaseCharacter: Order
Role: Manager+ Planning & organizing
+ Dominance- Creativity
Expansion phaseCharacter: HarmonyRole: Sales person+ Sociale orientation- Perseverance- Independence
Contraction phase
Character: ConflictRole: Specialist
+ Financial accounting- Leadership- Dominance
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I saw the angel in the marble and carved until I set him free.
Michelangelo
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Do you really want to grow? Yes? Then here is how to grow. Based on the metaphor of the big smile of entrepreneurship.
Eyes closedREFLECTINGReflectregularly. WhereamI?HowfaramI?HowwellamIdoing?
Big smileSATISFYINGKeepyourcustomers andco-workerssmiling.AgainandAgain.
Euro signMONITORINGRegularlymonitoryourfinanceandcashflow.
Eyes openVISIONINGCreateavisionandalwayskeeptheendinmind.
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4.3.2 The early phase: when you have just started
Intheearlyphase,themaintaskisputtingtheproductorserviceonthemarketandgainsaleswithit.Youworkwithminimalinvestmentsandyouhavetobeverymarket-oriented. Theproductshouldmeetthecustomer’sneeds.Byrespondingtothedemandsof customersand,ifnecessary,adaptingtheproduct,enoughsalescanbeachievedtocreatefinancialconditionsforsuccessfulgrowth.Asastartingentrepreneur,youshouldbeabletolistentoyourcustomerswell,thankstowhomyougainknowledgeandexperience.Thesuccessful,startingentrepreneurisabletoadaptone’sproducttowhatthecustomerwants.Thisalsorequirescreativityandflexibility.
Importantqualitiesfortheearlyphase• marketawareness• creativity• flexibility
Market awarenessWhatmakessomeonemarket-oriented?Whatcharacteristicsdoesamarket-oriented entrepreneurhave?Thatisthecentralquestionofthisquality.Thetaskofthepioneeristoensurethattheproductcloselymeetsthewishesofthecustomer.Youaremarket-orientedwhenyou:• Havecontactwith(potential)customers.• Visitexhibitionsregularly.• Gooverindustrydata.• Enquireauthorities.• Havemarketresearchconducted.• Followthecompetition.• Stayinformedofthecompetitor(s):productrangecomposition,marketshare,
newproducts,salesandoverallfinancialsituation.• Aresensitivetoandmakeuseofthemarket,thebusinessenvironmentand
trendstherein.
General description Market awareness Amarket-orientedentrepreneurcanempathizewiththeneedsof(potential)customersandcreatealinktoone’sownbusinessmanagement.Successfulentrepreneursrespondtothespecificneedsofaclearlydefinedtargetaudience.Theycanalsoaccuratelyindicatewhattheircompetitorsdo.Theyfollow(trade)magazinesandtalkwithclientsinordertoanticipatechangesinthemarket.Unsuccessfulentrepreneurshavelittleeyefortheneedsoftheircustomers.Theyareoftenmoreproduct-orientedanddonothaveacleartargetinmind.
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How do you develop market and customer awareness?Youbecomemoremarket-orientedbykeepinganeyeonyourmarket.Thismeansthatyoumustbefedwithasmuchinformationaspossible.Youobtaininformationbyreadingnewspapers,watchingTVandtalkingwithcustomers,competitors,peopleonthestreetorinthequeueforacashregisteratthesupermarket. Everywhereyouare,lookaroundyou.Thenaskyourselfwhatthiscouldmeanforyourbusiness.Bydoingthisconsistently,youdevelopakindofthirdeyethatscansdevelopmentsinandaroundyourbusiness.Customer-orientedpeoplehaveaneyefortherelationshipbetweenthecustomerandtheorganization.Thatrelationshipisoftencomplicated.Thisincludesnotonlymanydifferentareas(sales,provisionofinformation,communication,service),butalsovarioushumanaspects (expectations,wishes,ideas).Manyorganizationshavedifferentdepartments,whicheachlookatthecustomerintheirownway.Thecreditcontroldepartmentseesadifferentpersoninthecustomerthanthesalesdepartmentdoes.Thefollowingtipscanhelpyoubecomemorecustomer-oriented:
• Putthecustomerfirstinyourbehavior.• Haverespectforthecustomer;afterall,thispersonpaysyourincome.
Youareservice-oriented:youlovedoingthingsforanother.• Alwaysseekasolution.• Putyourselfinthecustomer’spositionandtrytounderstandhowthecustomer
experiencestheproblem.Itisnotthesameastheproblemoritscause.• Firstlistentothecustomerandaskquestionsbeforetellingaboutyour
product.Trytolearnasmuchaspossible.
CreativityWithcreativity,manypeoplefirstthinkofbeingabletopaintorsculptwell.Thismeansthattheyarefocusedondoing,butIamaimingmoreatthinkinghere.Howwellandhowoftendoyoucomeupwithnewandoriginalideasandsolutions?Creativityincreaseswhenyouopenyourselfupmoretowhatyouexperience.Theabilityto‘play’withthoughtsisanindispensableprerequisiteforcreativity.Youarecreativewhenyou:
• Generateandimplementnew,usefulideastostartanewbusiness.• Areopentonewconcepts,ideas,opinions,beliefsandthoughtsofothers.• Areabletohandleconflictinginformationwithoutlosingsightofthebigpicture
andyoucomeupwithmultiplesolutions.• Displayacertainamountofplayfulnessandhaveanintuitivewayofthinking.
Creativitycanbelearned.Itisawayofthinkingthatenableseveryonetocomeupwithnewandinnovativeideas.
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General description Creativity Creativityistheabilityto‘play’withideasandtoseeandtrynewpossibilities.Successfulentrepreneursareopentowhatishappeningintheirsurroundings.Indoingso,theyarenothamperedbylimitationsofthesituation,butchallengedbythepossibilities.Theyhavetheabilitytothinkfromdifferentanglesandtoexittroddenpaths.Theycanturnproblemsintoopportunitiesandarenotafraidtotakerisks.Non-successfulentrepreneursarelimitedintheirthinkingandtheyareupfortheexperimentlessquickly.
How do you develop Creativity?Psychologicalresearchhasyieldedfourwaysinwhichyoucanbeuptotentimesmorecreative:
• Rememberideasthatcometomindbywritingthemdown.So,alwayskeepanotebookclose.Newideasmainlycomeupundercertaincircumstances.Formanypeople,thatisinbed,intheshowerorontheroad.Othersneedrest,orinspirationofabeautifulenvironment.Whateveryourideamomentsare,makesureyoucanrecordnewthoughtsthatcometomindimmediately.
• Challengeyourselfbythinkingofalternativesforthingsyounormallydowithoutthinking.Thinkofdifferentsolutionsforthesameproblem.Acceleratetheflowofnewideasbychallengingyourself.Thatis,putyourselfinadifficultsituationinwhichthatwhichyoutryisnotlikelytosucceedatall.Underthechallenge’spressure,yourbrainsearchesforsolutionsthathaveworkedinothersituations.
• Broadenyourknowledgeandskills.Readaboutyourfieldasmuchaspossible.Creativityarisesbyapplyingknowledgeandskillstonewsituations.However,youneedtohavethatknowledgeandthoseskillsinthefirstplace.Themoreyouknowandarecapableof,themorecreativeyouwillbe.
• Surroundyourselfwithvariousstimuli.Gosomewhereyouhaveneverbeenbefore,orgosomewhereyouwouldnormallynotgotointhefirstplace.Takeadifferentroutetoworkorhome.Trywalkingaroundyourhouseinthedarkandputafunnytoyonyourdeskwhenyouareatwork.Listentodifferentmusic.Youmaycallitdistraction,butitisagreatsourceofcreativity.
FlexibilityFlexibilitymeansknowingfourbasicactivities,whichtogetherformaprocess.TheseactivitiesincludeObserving,Interpreting,AnticipatingandResponding.Theydescribetheprocessofactionandreaction.Thefirsttwoactivities,ObservingandInterpreting,correspondtothewayamarket-orientedandcreativepersonperceives. Thelasttwoactivities,AnticipatingandResponding,describehowonewillrespondtothatperception.Whetherandhowquicklyonereactsdeterminesthedegreeofflexibility.Flexibilityisacombinationofchangecapacityandresistivity.Inchangecapacity,itisabouttheabilityandwillingnesstochange.Here,thefollowingcharacteristicisgiven:
• Thatyouarestable,haveanabilitytochange,haveanabilitytoresist,thatyouareopentoexperienceandthatyouaredynamic,stressresistantandrelativizing.
QUALITIES:W
HATCANYOUDOW
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Whenitcomestoresistivity,itisaboutbeingamatchforchange,sothatyoudonotgoalongwitheverychange.Here,thefollowingcharacteristicisgiven:
• Thatyouhaveimprovisationandadaptabilitycapacityinchangesinthesurroundings.
General description Flexibility Flexibilityissynonymouswithadaptabilityhere.Successfulentrepreneursrespondtochangestheyobserveinthesurroundings,suchasnewcustomerdemandsornewcompetitorsinthemarket.Theyassessopportunitiesorthreatsfortheireffectsandadjusttheir(corporate)planaccordingly.Unsuccessfulentrepreneursarehardlywillingtoadapt.Theyresist,andtheycanbestubbornandrigid.
Ifyouwanttobecomemoreflexible,youcandothefollowing.Trytolookatachangedsituationasobjectivelyaspossible.Determinewhatyourfamiliarthinkingpatternandworkingmethodare.Takeamomenttoconsiderwhatpositivethingsinthenewsituationcanhelpyouimproveyourworkingmethod.Achangedsituationalsooffersopportunitiesandthusimprovementofthewayyouusedtodothings.Itismainlyamatteroflookingatthingsdifferently.Striveforinnovation.Youwillnoticethatyouacceptchangesmoreeasily.Ifyouareexperiencingresistancefromyoursurroundings,pleasemoveawayfromyourownopinion.Youdonothavetoabandonyouropinion,butdonotsaythisopinionimmediatelyanddonotfinishwithiteither.Summarizewhatthedifferentopinionsare,andindicatethatyouwanttocometoasolution.Theotherwillbemoreinclinedtothinkofasolutiontogether,and–rememberthis–youtoo.Youcannowmakeadealmoreeasily.Ifyoualreadyareflexiblebutyoudonotwanttogooverboardwithit,thiscanhelpyou.Beingabletoadjustwellandtogoalongwithchangeswelldoesnotmeanthatyoualwayshavetosayyes.Guardyourownvaluesandwhatyoufindtrulyimportant.Sayingthisdirectlyistheeasiestthingtodo;themomentyouthinkofitoratthebeginningofaconversation.Thelongeryouwait,theharderitisforyoutosay‘no.’
4.3.3 The mature phase: When your company has grown
Inthematurephase,themaintaskismakingprofit.Profitisnownecessarytoinvestingoods,workingcapitalandpersonnelwithwhichtheorganizationalbasisforfurthergrowthiscreated.Thelow-costoperationshouldbedevelopedintoamaturecompany.Itisnecessarytogetthatsecondlayerthatcancontradictthedirector/ownerifnecessary.Manageabilitybecomesanimportantpointofattentioninfurthergrowth.Inthisphase,asoundfinancialpolicyshouldbeimplemented.Asanentrepreneur,youshouldbeabletolead,organizeandplan.Becauseprofitbecomesimportantinthisphase,theentrepreneurmusthaveorgetaninterestinmoneyandnumbers.Financialmanagementshouldthereforebelongtoyourqualitiestoo.
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Importantqualitiesinthematurephase• leadership• organizingandplanning• financialmanagement
Thequalitiesinthematurephase,whicharediscussedbelow,canbedeveloped.Youcanfollownumerouscourses.Becausethecontentofthesecoursesistooextensivetoexplaininshort,youwillnotfindinformationaboutitinthisbook.IreferyoutothelargeamountofinformationavailableontheInternet.Howyoucandevelopyour entrepreneurshiponaregularbasis.
LeadershipLeadershipisprimarilybridgingthegapbetweentheentrepreneurialplansandcarryingthemout(orhavingthemcarriedout).Thismeansthatyouneedtocreateacommondirectionwithyouremployees.Consequently,youasanentrepreneurmainlyneedtofocusontheemployeesandtheircommitmenttothecompany.Leadershipisthereforeimpossibleifyoudonotlovepeople(alittle)and/orcannothandlethem.
Therearetwotypesofleadership:task-orientedandpeople-oriented.Task-orientedleadershipinvolvesassigningresponsibilitiesandmonitoringtheperformanceoftasks,whilepeople-orientedleadershipinvolvesmotivatingemployeesandkeepingthemcommitted.Leadersarevisionarieswithconfidenceanddonotgiveupquickly. Leadershipcanbestbedescribedbythefollowingcharacteristics:
• Speakingwithsubordinatesasequals,developinginitiatives,showingrespectforbothsuperiorsandsubordinates,beingfirmandpurposeful,showingnopreferences,showinginterestineveryemployee,andinformingemployeesinadvanceaboutchangeswithwhichonewillbefaced.
• Delegating,involvingemployeesindecisions,exercisingrelativelylittlediscipline,encouragingmutualcommunication,havinglessformalmeetings,motivatingemployees,achievingplansandgoalstimely,leadingintimesofcrisesandfulfillingpromisesandobligations.
• Leadingemployeesthroughdifficultiesandchanges,andhelpingthem;tighteningtheorganizationalstructurebyapplyingapersonalinfluence.
General description LeadershipLeadershiphastodowithmanagingpeopleinahuman,task-orientedway.Successfulentrepreneursknowhowtoassessandmanagepeople.Successfulentrepreneurs understandthattheirroleisaleadingoneandtheseentrepreneursarehappytohelpothersbygivingthemthespaceandconfidencetheyneed,butnotwithoutapropersystemofcontrol.Lesssuccessfulentrepreneursaretoohappytodoitthemselvesandgenerallyhavelessconfidenceintheirownpeople.Afterall,theycandoitbetter.
Organizing and planningOrganizingandplanningmainlyrelatetotheemployees.Theirtasksandactivitieshavetobeorganizedandplanned.Nowadays,itisexpectedofmanyemployeesthattheycanplantheirowntasks,butinfact,theorganizationshouldtakecareofthat.
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Theorganizationistoensurethatemployeescanperformtheirtasksandresponsibilitiesthebestpossibleway.Youcanorganizeandplanwellifyou:
• Systematicallydesignandcontroltheworkofothers.• Employsourcesinsideandoutsidethecompany.• Developanefficientsystemofprocedureswithouthavingtoenterunnecessary
hierarchicallayers.• Planworkandsettargetsforemployeesaswellasfortheorganization.
General description Organizing and planning Organizingandplanningincludethedesignandimplementationofanefficientandeffectivesystemfortheworkofemployees.Successfulentrepreneurscanorganizewell,andcanassesstheirownworkandthatoftheiremployeesintermsoftimeandquantity.Lesssuccessfulentrepreneurstendtobetemptedbythechaosofeverydaylifeandtheylosetheirfocussooner.
Financial managementInfinancialmanagement,itisvitaltohaveinsightintonumbersandmoney.Thismeansthatanentrepreneurshouldbeabletodrawupthefinancialconductofbusiness,oratleastunderstandandapplyit.Thatoneshouldbeabletoworkwithfinancialdataisevident.However,financialmanagementobviouslyhasaclearlinkwiththecompetenceelementofknowledgetoo.Itisclearthatthisisaboutthebasicsofeconomics:balancesheet,solvency,liquidity,workingcapital,profitandlossaccountetc.Youarecapableoffinancialmanagementifyou:
• Usefinancialdatainbusinessmanagement.• Dealwithcontrolling:usingmonthlyfiguresandfactsinmonitoringthecompany
andtakingprecautions.• Lookaheadinadvancebytranslatingyourvisionintoalong-termbudgetwith
projectionsforthemonthlyresults,cashflowsandcurrentaccountpositions.
General description Financial management Financialmanagementmeansbeingabletokeepagoodbalancebetweencostsandexpenses.Successfulentrepreneursactivelyusetheirabilitytoanticipatethefutureinadvanceandtranslatethisintofinancialforecastswithorwithoutthehelpofabusinessconsultant.Successfulentrepreneursdonotseethebankasathreat;theyratherseethebankasanopportunitytorealizetheir(personal)goal.Lesssuccessfulentrepreneursshowalackofinterestintheir(future)financialposition.
ConclusionQualities,asthethirdelementoftheentrepreneurialcompetence,differbyphaseof thebusinesslifecycle.Theearlyphaseandexpansionphasehavethetasktomakeasmanysalesaspossible.ItrequiresqualitiessuchasMarketawareness,CreativityandFlexibility.Thematurephasehasadifferenttask,namelytoachievemaximumprofit.ThisrequiresqualitieslikeLeadership,Organizingandplanning,andFinancial management.
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Be different You know more than you think
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4.4 Knowledge: Do you know what others know?
Figure9:Fourthelementofcompetence:knowledgeandexperience.
Knowledgeisthefourthandlastelementandhasofcoursealltowithknowing. Knowledgereferstothemorefactualorbusinessaspectsthathavetodowith entrepreneurship.Theseaspectsincludeknowingtherulesassociatedwiththeconductofanorderlyadministration,namingtheprinciplesofmarketing,knowingthedifferencebetweendebitandcreditorknowingthelegislation.Experiencealsoformsapartofknowledge.Indeed,itisknowledgegained,whichislearnedinpractice(ofentrepreneurship)forexample.However,knowledgealonesayslittleabouthowitisapplied.Whatsomeonehaslearnedcanbeevaluatedinasubsequentsituation,whenoneactuallyusesthatwhichislearned.
Inordertobeanentrepreneur,youneedtoknowanumberofthings,orasweprefertosayit:itisnotsomuchwhatyouknow,butwhoyouknowthatknowsit.Afterall,youdonothavetohavetheknowledgeyourself.Thisknowledgecanalsobehired,aswitnessedbythemanyconsultantsavailable.However,rememberthateveryonehasanopinion,butitdoesnotmeanoneisalsoanexpert.So,knowwhatothersknow!Here,Iwouldliketoelaborateontheknowledgeareasthatareimportanttotheconductofbusiness.Theseknowledgeareasareimportantineveryindustry;themostimportantonesarecoveredinthebusinessplan.Imentionhere:knowledgeofthemarket,environment,people,productionandfinance.
SMEsdonotapplythebusinessplanthatmuch.Forexample,onlyafinancialplanningorbudgetisdrawnup.Whatisthereasonthatfew(starting)entrepreneursdrawupabusinessplan?TheexcusesIoftenheararenotime,lackofinformation,lackofknow-ledgeormoneyand“Whatisthepoint;youcannotpredictthefuture.”However,itisintendedprimarilytostructureyourthoughtsaboutthefutureandtocalculatematters.Itforcesyoutomakechoices.Therefore,itleadstomoreknowledgeofyourbusinessandtheenvironmentinwhichyourbusinessoperates.
qualities characteristic
s
motivation wanting
beingdoing
know
ledge
knowing
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KNOWLEDGE:DOYOUKNOWW
HATOTH
ERSKNOW? • Market:marketpositionandcompetition,marketingknowledge,communications
andsalespromotion,marketresearch,innovationanddevelopments.• Finance:financialanalysisandformsoffinancing,businesseconomicand
financialknowledge,businessinformationanddevelopments.• Production:quality,procurementandsupplychainmanagement,production
andinnovation,technology(ICT)anddevelopments(incaseoftheprovision ofservice,itinvolvestheprovisionofserviceprocess).
• People:organization,personnelmanagement,monitoringandreplacement, anddevelopments.
• Environment:externalcontacts,environment,legislationanddevelopments.
Itisnecessarytoconsiderallaspects.Thecompany,youasanentrepreneurandyoursurroundingsshouldbeunderstoodasanintegratedwhole.However,thebusinessplanismorethanjustasingledocumentthattendstodisappearinthebottomdrawer. Bycontinuouslyupdatingtheplanwiththeresults,youkeeptheplanup-to-date.Thisishowyoukeepfocusedonthefuture.Everyentrepreneurknowsthatthisisnoteasy.Youasanentrepreneurshouldhaveknowledgeofmanydifferentknowledgeareas,andcontinuouslyupdatingthebusinessplanisnotaneasyjob.Luckily,youcanhirethatbusinessknowledge.Youdonotneedtoknowitallyourselfaslongasyouknowhowtoknowit.
Thewayinwhichoneacquiresandusesknowledgeplaysaroletoo,ofcourse.Afterall,knowledgeistheoutcomeofathinkingandlearningprocess:howdoyougainknowledge?Somemostlylearnbydoingandexperiencing(thedoers),whileotherslearnbyreadingandstudyingthetheorybeforeputtingitintopractice(thethinkers).Onelearningstyleisnotbetterthantheotherlearningstyle.Iwillnotelaborateon thisinthisbook,butitisimportantthatyoufigureoutwhatyourwayoflearningis.Howdoyoulearnsoyoucantakeitallinwell?
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The entrepreneur doesn’t have to know anything, as long as he knows how to arrange it.
Martijn Driessen
The entrepreneur doesn’t have to know anything, as long as he knows how to arrange it.
Martijn Driessen
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!???
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The end!
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The end!(almost)
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ENTR
EPREN
EURSCAN Entrepreneur Scan
WhatmakestheEntrepreneurScansoimportantthatyouhavetotakeyours? Self-knowledgeisofgreatimportanceinthejourneytowardssuccessfulentrepreneurship.However,howdoyougainself-knowledgeaboutyoursuitabilityforentrepreneurship,especiallywhenyouhavenotstartedacompanyyet?Thatlackofself-knowledgeshowsitselfinthestatistics:afterthefifthyear,almost50%ofallstartingentrepreneurshavequit,orworse,havegonebankrupt.Apparently,entrepreneurshipisnotwhattheythoughtitwouldbe.
ThankstotheDutchscientistswhohavedevelopedtheEntrepreneurScan,youcanquicklygetamoreobjectiveunderstandingofyourentrepreneurialprofileinadetailedreport.Thereportclearlyshowsyourstrengthsandweaknesses,whatweaknessesneedtoberefined,andhowtheweaknessesneedtobedeveloped.Youwillreceivepracticaltipsonhowtodevelopbothyourstrengthsandweaknesses,ortoweaken“toostrong”strengths.Yourtestresultsarecomparedwithsuccessfulpeers.Youasanentrepreneurwillgetinsightintoareasfordevelopment,butrememberthatyoucannotseparatethetestresultsfromyourpersonalmattersorsituation.Itisasnapshot;youtakethetestforyourself.
Afterall,itisaboutincreasingyourself-knowledgeasanentrepreneur.Youcanstartimmediatelywiththishandyandvaluabletool.
How can E-Scan help you? Visit www.entrepreneurscan.com
More than 500,000 people
took their E-Scan
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About the author
Fromayoungage,IknewthatIwantedtobeanentrepreneur.First,Iwantedtoownabarbershop;later,Itradedthisideafortheideaofowningmyownhotel.Accordingtoanecessaryschooltest,Ishouldhavegonetothelowestlevelofsecondaryschool,butIhadthechancetostartatmid-level.Thingsweregoingwell,andsoonafter,Iwenttopre-universityschool. Ifinisheditsuccessfully.Then,IwantedtogototheHospitalityManagementSchool.TherearestrictentryrequirementsforadmittanceintheNetherlands.About2,500peoplesignedup,ofwhichonly240wouldbeadmitted.Toincreasemychances,Ivisitedmultipleluxuriousfivestarhotelsattheageoffourteen.IwantedtostartahotelonceIcompletedtheHotelManagementSchool,butitfeltasif Iwasnotdonelearningyet.Therefore,IwenttotheSchoolforBusinessAdministration,completingthethreeyearsofrequiredstudyintwoyears.Ididnotwanttodomy graduationinternshipprojectatalargecompanyandwhileafriendinPragueintroducedmetoacompany,Ihadtothinkofanassignmentonmyown.InPrague,IcameupwiththeideaoftheE-Scan(theentrepreneurscan).Igraduatedwiththisidea.In1997,Iwas27yearsoldandIstartedthecompanyEntrepreneur Consultancy.Iwonthepublicprize“StarteroftheYear”inacompetitionheldbytheDutchemployers’organization.Inadditiontostartingmyowncompany,IcompletedmyPhDinEntrepreneurshipattheUniversityofGroningen.Ihavestartedmultiplebusinesses,someofwhichIhavesoldandsomeofwhichIwasforcedtostop.Nowadays,theE-Scanisavailableinthreelanguages,anditisusedsuccessfullyinmultiplecountriesworldwide.Youcouldsaythatthiswasathesisthatgotcompletelyoutofhand.
ThemissionofEntrepreneurConsultancyisdevelopingentrepreneurshipworldwide.Itisourpassiontomakepeoplemoreentrepreneurial.Wedothisthroughpracticalproductsandsmartservicesbasedonscientificresearch.Whetheryouareastudent,anentrepreneurorasuccessfulbusinessowner,wecanhelpyoubecomeandstayentrepreneurial.
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FEED
BACK Feedback
WiththisbookIwanttomakeclearwhatIbelieve,supportedwithscientificresearch,whatanindependentbusinessownerisandwhatanentrepreneurialentrepreneuris,butmoreimportantly,whichcharacteristicsandcapabilitiesarerequiredandhowtodevelopthem.
ThisbookisbasedonmyPhDthesis:EntrepreneurScan,measuringanddevelopingentrepreneurialcompetencies.Besidemyextensiveliteraturesearch,Ihavedonemuchresearchamongestablishedandstartingentrepreneurs,especiallybecausetheE-Scanisapracticalproductthatismeantforentrepreneurialpractice.Scienceisattheserviceofpractice.Onlyif(starting)entrepreneursandintermediariesbenefitfromitsusewillitbeavaluabletoolproducedbyresearch.
Thereisabigdifferencebetweentheoryandpractice.Asignificantgapbetweengatheringandsupplyingknowledge.Knowledgeinitselfisnotthemostimportantthing.Whatyoudowiththatgained(self)knowledgeisimportant.That’swhatI’mtryingtoaccomplishwiththisbookandtheE-Scan.IcanimaginethatthisbookandtheE-Scanhavegivenyounewinsights.Ifso,I’minterestedinhearingyourstory.Youcanmailthemtoinfo@entrepreneurscan.com.Youwillhelpme,aswellasothersintheprocess.
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The Golden eGG
A scientific approach on how to become a
successful entrepreneur
A scientific approach on how to become a
successful entrepreneur
Dr. Martijn Driessen
ISBn/eAn 978-90-811019-6-7