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WealthDNA & The Master Entrepreneur
 

WealthDNA & The Master Entrepreneur

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Lecture given in 2009 at Shenandoah University School of Business, describing the characteristics of the Master Entrepreneur and the four distinctive entrepreneur types.

Lecture given in 2009 at Shenandoah University School of Business, describing the characteristics of the Master Entrepreneur and the four distinctive entrepreneur types.

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    WealthDNA & The Master Entrepreneur WealthDNA & The Master Entrepreneur Presentation Transcript

    • “Wealth DNA: The Master Entrepreneur" Chris Grant Copyright 2009 © WealthGate, LLC. Sponsored by:
    • “ To be an Entrepreneur means to be a ‘Creator,’ and having the willingness to be at the service of others.” C.Grant
      • Presentation Takeaways:
      • The DNA of the Master Entrepreneur
      • The Four Entrepreneur Types
      • The DNA of the Superior Enterprise
      Wealth DNA: The Master Entrepreneur
    • “ The relentless pursuit of opportunity without regard to resources currently controlled” Basic Requirements Wealth DNA: The Master Entrepreneur Entrepreneurship
      • “ The relentless pursuit of opportunity without regard to resources currently controlled”
      • Basic Requirements
      • You Need a Feeling for RISK
      Wealth DNA: The Master Entrepreneur Entrepreneurship
      • “ The relentless pursuit of opportunity without regard to resources currently controlled”
      • Basic Requirements
      • You Need a Feeling for Risk
      • You Need TOTAL COMMITMENT
      Wealth DNA: The Master Entrepreneur Entrepreneurship
      • “ The relentless pursuit of opportunity without regard to resources currently controlled”
      • Basic Requirements
      • You Need a Feeling for Risk
      • You Need Total Commitment
      • You Need STAMINA
      Wealth DNA: The Master Entrepreneur Entrepreneurship
      • “ The relentless pursuit of opportunity without regard to resources currently controlled”
      • Basic Requirements
      • You Need a Feeling for Risk
      • You Need Total Commitment
      • You Need Stamina
      • You Need to Know How to SELL
      Wealth DNA: The Master Entrepreneur Entrepreneurship
      • “ The relentless pursuit of opportunity without regard to resources currently controlled”
      • Basic Requirements
      • You Need a Feeling for Risk
      • You Need Total Commitment
      • You Need Stamina
      • You Need to Know How to Sell
      • You Need an INVESTMENT OPPORTUNITY
      Wealth DNA: The Master Entrepreneur Entrepreneurship
    • “ The relentless pursuit of opportunity without regard to resources currently controlled” The Key Critical Success Factor Knowing Yourself !!! Wealth DNA: The Master Entrepreneur Entrepreneurship
    • “ The relentless pursuit of opportunity without regard to resources currently controlled” The Key Critical Success Factor Knowing Yourself !!! Wealth DNA: The Master Entrepreneur Entrepreneurship
    • The DNA of the Master Entrepreneur Wealth DNA: The Master Entrepreneur At the heart and soul of every elite or master entrepreneur are the following characteristics:
    • The DNA of the Master Entrepreneur Wealth DNA: The Master Entrepreneur At the heart and soul of every elite or master entrepreneur are the following characteristics:
      • Remains “persistent,” no matter what
    • The DNA of the Master Entrepreneur Wealth DNA: The Master Entrepreneur At the heart and soul of every elite or master entrepreneur are the following characteristics:
      • Remains “persistent,” no matter what
      • Excels at intra and interpersonal communications
    • The DNA of the Master Entrepreneur Wealth DNA: The Master Entrepreneur At the heart and soul of every elite or master entrepreneur are the following characteristics:
      • Remains “persistent,” no matter what
      • Excels at intra and interpersonal communications
      • Obsessed with creating value
    • The DNA of the Master Entrepreneur Wealth DNA: The Master Entrepreneur At the heart and soul of every elite or master entrepreneur are the following characteristics:
      • Remains “persistent,” no matter what
      • Excels at intra and interpersonal communications
      • Obsessed with creating value
      • Thinks in “win-win” terms
    • The DNA of the Master Entrepreneur Wealth DNA: The Master Entrepreneur At the heart and soul of every elite or master entrepreneur are the following characteristics:
      • Remains “persistent,” no matter what
      • Excels at intra and interpersonal communications
      • Obsessed with creating value
      • Thinks in “win-win” terms
      • Has a “Winners” personality (“Charisma”)
    • The DNA of the Master Entrepreneur Wealth DNA: The Master Entrepreneur At the heart and soul of every elite or master entrepreneur are the following characteristics:
      • Remains “persistent,” no matter what
      • Excels at intra and interpersonal communications
      • Obsessed with creating value
      • Thinks in “win-win” terms
      • Has a “Winners” personality (“Charisma”)
      • Takes intelligent risks
    • The Enterprise Lifecycle (Adizes) Wealth DNA: The Master Entrepreneur Source: “Business Development” by Ichak Adizes http://www.datakey.org/mhedajournal/3q07/growagedie.php3
    • The Four Entrepreneur Types Wealth DNA: The Master Entrepreneur
    • The Four Entrepreneur Types Wealth DNA: The Master Entrepreneur
      • THE BASICS:
      • Represent unique characteristics, distinctions and … behaviors of individual entrepreneurs
      • Represent one’s “major tendencies”
      • Individuals can possess traits inherent in one or more types
    • Type I – “The Architect” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • A “Rare” breed (< 10% of world’s population)
    • Type I – “The Architect” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • A “Rare” breed (< 10% of world’s population)
      • Excel at creating plans and strategies (for nearly … everything)
    • Type I – “The Architect” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • A “Rare” breed (< 10% of world’s population)
      • Excel at creating plans and strategies (for nearly … everything)
      • Natural researchers; fascinated with systems and … the design of things
    • Type I – “The Architect” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • A “Rare” breed (< 10% of world’s population)
      • Excel at creating plans and strategies (for nearly … everything)
      • Natural researchers; fascinated with systems and … the design of things
      • Unlimited interest and curiosity; perpetual … learners
    • Type I – “The Architect” Wealth DNA: The Master Entrepreneur “ The key to being a great Architect is to balance the beauty of tomorrow with the needs of today”
      • B E N E F I T S
      • Type Is excel in early-stage businesses
      • Can see and plan for multiple futures
    • Type I – “The Architect” Wealth DNA: The Master Entrepreneur “ Ready? Aim, aim, aim…”
      • R I S K S
      • Tendency to over-plan and under-execute
      • Too much complexity designed in business too soon
      • Can be more interested in the future than present … reality
    • Type I – “The Architect” Wealth DNA: The Master Entrepreneur “ Ready? Aim, aim, aim…”
      • EXAMPLES
      • Charlie Munger (Warren Buffet’s key partner)
      • Muhammad Yunus, Founder, Grammeen Bank
      • Bill Gates, Microsoft
      • Marc Andressen (founder, Netscape)
    • Type II – “The Builder” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The most common type (90%+ of world’s … population)
    • Type II – “The Builder” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The most common type (90%+ of world’s … population)
      • Trailblazer energy…Think “Superman/Wonder … woman”
    • Type II – “The Builder” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The most common type (90%+ of world’s … population)
      • Trailblazer energy…Think “Superman/Wonder … woman”
      • Driven… “momentum junkies”
    • Type II – “The Builder” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The most common type (90%+ of world’s … population)
      • Trailblazer energy…Think “Superman/Wonder … woman”
      • Driven… “momentum junkies”
      • Architects “frame and blueprint,” Builders CREATE … (Match made in Heaven or HELL)
    • Type II – “The Builder” Wealth DNA: The Master Entrepreneur “ The key to being a great Builder is to temper one’s addiction to the pursuit of things with the joy that comes from actual accomplishment.”
      • B E N E F I T S
      • Type IIs excel in responding to and exploiting fast … developing opportunities
      • Type II seen as very “charismatic” – it’s a door- … opener
      • Strong ability to take enormous action and risks
    • Type II – “The Builder” Wealth DNA: The Master Entrepreneur “ Ready? No? Fire! Fire! Fire!…”
      • R I S K S
      • Tendency to under-plan and over-execute
      • Easily addicted to the “action” vs real “results”
      • High tendency for burn-out
      • Enterprise = ME 2
    • Type II – “The Builder” Wealth DNA: The Master Entrepreneur
      • EXAMPLES – There are many…
      • Larry Ellison, Oracle
      • Henry Ford, Ford Motor Co.
      • Hans Wilsdorf, Rolex S.A. Watch
      • Enzo Ferrari, Ferrari Motors S.A.
      The best Type IIs temper their need for action and momentum with the wisdom and patience of taking the time to build systems
    • Type III – “The Manager” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • Really Intrapreneurs (owner-mindset, stability-oriented)
    • Type III – “The Manager” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • Really Intrapreneurs (owner-mindset, stability-oriented)
      • The Enterprise Specialist
    • Type III – “The Manager” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • Really Intrapreneurs (owner-mindset, stability-oriented)
      • The Enterprise Specialist
      • Calming force
    • Type III – “The Manager” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • Really Intrapreneurs (owner-mindset, stability-oriented)
      • The Enterprise Specialist
      • Calming force
      • Singular focus – “Revenue Recognition” … READ: R O F I T
    • Type III – “The Manager” Wealth DNA: The Master Entrepreneur “ Type IIIs are the go-to men and women who drive the business into it’s greatest potential - period.”
      • B E N E F I T S
      • Type IIIs perfect the enterprise and drive to … maximum value, making exits possible
      • Are often admired and respected by the professional … ranks; tolerated by the rank-and-file
      • Strong ability to operate in the “Status Quo” state
    • Type III – “The Manager” Wealth DNA: The Master Entrepreneur “ Ready? No? Fire! Fire! Fire!…”
      • R I S K S
      • Can be slow to respond to sudden crisis
      • Tend to be resistant to innovation-related projects
      • Are not always quick to abandon outdated processes
      • Tend to be slow to see or respond to new business … opportunities
    • Type III – “The Manager” Wealth DNA: The Master Entrepreneur
      • EXAMPLES
      • Warren Buffet, Chairman, Berkshire Hathaway
      • Steve Ballmer, CEO, Microsoft
      • Jeff Jacobs, President, Harpo, Inc. (Oprah Winfrey)
      • Nancy Peretsman, CEO, Allen & Co.
      The best Type IIIs are knee-deep in maturing businesses (cash flow generation, integration, steady growth) and are behind-the-scenes (usually)
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The mature states of Type Is, IIs and IIIs
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The mature states of Type Is, IIs and IIIs
      • Empire builders (aka: “Serial Entrepreneurs”)
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The mature states of Type Is, IIs and IIIs
      • Empire builders (aka: “Serial Entrepreneurs”)
      • Integration, replication & systems – A necessity
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The mature states of Type Is, IIs and IIIs
      • Empire builders (aka: “Serial Entrepreneurs”)
      • Integration, replication & systems – A necessity
      • Singular focus – D I V E R S I T Y
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur
      • IN A NUTSHELL:
      • The mature states of Type Is, IIs and IIIs
      • Empire builders (aka: “Serial Entrepreneurs”)
      • Integration, replication & systems – A necessity
      • Singular focus – D I V E R S I T Y
      • Some entrepreneurs aspire to be Type IVs – … a rare few get there (in one generation)
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur “ Type IVs are the men and women that history tends to record, regardless of original intent.”
      • B E N E F I T S
      • All large corporations are born from Type IV … contributions
      • Few grow to Type IV status; many inherit their way
      • Philanthropy, systemic contributions are possible
      • 1:1,000,000+
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur “ If Power is absolute and power corrupts absolutely, what is a mere human being to do who possesses real power?”
      • R I S K S
      • Errors, miscalculations can have devastating … consequences
      • Many drivers can fuel Type IV (EGO, GREED
      • Perfection isn’t possible
    • Type IV – “The Integrator” Wealth DNA: The Master Entrepreneur
      • EXAMPLES
      • Warren Buffet, Chairman, Berkshire Hathaway
      • Bill Gates, Chairman, Bill & Melinda Gates Foundation
      • Oprah Winfrey, Chairman, Harpo, Inc.
      • Dynastic: DeBeers, Ford, Rockefeller, Rothchilds, Carnegie
      The best Type IVs fight to stay grounded in their ultimate responsibility – being good stewards of the World’s amassed wealth
    • Closing Remarks Wealth DNA: The Master Entrepreneur
    • Closing Remarks
      • The Book – Can be found on Amazon: search keyword: “WealthDNA”
      Wealth DNA: The Master Entrepreneur
    • Closing Remarks
      • The Book – Can be found on . Amazon: search keyword: “WealthDNA”
      • Supplemental site for book:
      • www. visualcv .com/ wealthdna
      Wealth DNA: The Master Entrepreneur
    • Closing Remarks
      • The Book – Can be found on . Amazon: search keyword: “WealthDNA”
      • Supplemental site for book:
      • www. visualcv .com/ wealthdna
      • Where I can be reached:
      • [email_address]
      Wealth DNA: The Master Entrepreneur