13. Characteristics of Successful Entrepreneurs
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• Passion for the Business
– This passion typically stems from the entrepreneur’s belief that
the business will positively influence people’s lives.
– 1- Ex. John Wood, Leaving Microsoft to change the world.
Room to Read educational company.
• Room to Read had built over1,440 schools
and distributed over 9.4 million books
in developing parts of the world. Now
in 2019, they provide education for 16.8
million children worldwide.
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14. Characteristics of Successful Entrepreneurs
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• Product/Customer Focus
– An entrepreneur’s strong focus on products and customers
typically come from the fact that most entrepreneurs are, at heart
of people.
– “The computer is the most remarkable tool we’ve ever built . . .
but the most important thing is to get them in the hands of as
many people as possible.” Steve Jobs
– Steve jobs journey to Xerox in 1980s. They decided to create a
more user-friendly computers called “Macintosh”.
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15. Characteristics of Successful Entrepreneurs
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• Tenacity Despite Failure
– Because entrepreneurs are typically trying something new,
the failure rate is naturally high. Entrepreneurship is a
marathon
– A defining characteristic for successful entrepreneurs is
their ability to continue through problems and failures.
– Ex. “Roomba Vacuuming by IRobot "tenacity for success.
• Execution Intelligence
– The ability to shape a solid business idea into a viable
business is a key characteristic of successful entrepreneurs.
– “ Ideas are easy, its execution is that’s hard” Jeff Bezos
amazon founder. 1-15
16. Common Myths About Entrepreneurs
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• Myth 1: Entrepreneurs Are Born, Not Made
– This myth is based on the mistaken belief that some people
are born to be entrepreneurs.
– No one is “born” to be an entrepreneur; but, everyone has
the potential to become one.
– Whether someone does or doesn’t become an entrepreneur
is a function of their environment, life experiences, and
personal choices.
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