By Scott Sherman Oct.
Social Creatures, Not Solo Heroes More than a dozen founders of successful companies received awards at the "Northern California Entrepreneurs of the Year" banquet. The first was given to Margot Fraser, president and founder of Birkenstock Footprint Sandals, which is now in its third decade as the exclusive U.
The last and most prestigious award for "Master Entrepreneur" was given to Dado Banatao, co-founder of several successful start-ups including Chips and Technologies and S3, and current chairman of five high technology companies.
Like the other winners, Mr. Banatao was recognized for his personal qualities, including a competitive spirit, love of taking calculated risks, and technical knowledge. As in nearly all the other acceptance speeches, Mr. Banatao claimed that he was given too much individual credit, and that he was just one of many people who enabled these start-ups to succeed.
We assert that this ritual reflects widely held, but inaccurate, beliefs about what it takes to be a successful entrepreneur and about the broader nature of the entrepreneurial process.
Numerous studies by psychologists suggest that when a Entrepreneur venture capital and social skills does something, those who are watching "observers" will say it is caused by a characteristic of the person like persistence or optimismwhile the person being watched the "actor" will say he or she is doing it because of something about the situation e.
This pattern is called the "fundamental attribution error," because observers usually place too much credit or blame on personality characteristics, and not enough on factors outside the person that drove him or her to action Fiske and Taylor, Such perceptions are fueled by our culture, which glorifies heroes and rugged individualists, but scapegoats the weak and incompetent.
Popular and academic writings on entrepreneurship have been especially prone to romanticizing individual founders and CEOs when new firms are successful, and vilifying them when such firms fail.
Academic researchers, along with authors who write for broader audiences, like journalists, venture capitalists, and entrepreneurs, have expended much time and text in a quest to predict who will succeed as an entrepreneur and who will fail.
These diverse writings emphasize that personality, along with other individual characteristics like demographic and cultural background, will predict who will become an entrepreneur, and which entrepreneurs will succeed.
And some evidence implies that leader personality has a stronger impact on structure in small and young organizations than in old and big organizations Miller and Dorge, McClelland found that entrepreneurs had a higher need for achievement than non-entrepreneurs and were, contrary to popular opinion, only moderate risk takers.
A great deal of research on the personality characteristics and socio-cultural backgrounds of successful entrepreneurs was conducted in the s and s.
A related stream of research examines how individual demographic and cultural backgrounds affect the chances that a person will become an entrepreneur and be successful at the task. At the same time, the business press has devoted much attention to the backgrounds, personalities, and quirks of successful entrepreneurs, turning founders like Bill Gates and Steve Jobs into names that are probably more familiar to most Americans than those of their representative in the U.
This media coverage has fueled the belief that successful entrepreneurs are a breed apart. These press reports, and much academic literature, has reinforced the myth that the success of a new venture depends largely on the words and deeds of a brilliant and inspiring superstar, or perhaps two superstars.
Although other people are involved, people in our culture seem to believe that they play far less important roles and are easily replaced. Although this myth is propagated and accepted in many corners of America and other western nations, it is supported by weak evidence.
After three decades of scholarly research, many studies have found little if any effect of founder or leader personality, or the demographic and social background of the founder, on start-up success.
Although the personality and socio-cultural variables proposed to distinguish successful from unsuccessful entrepreneurs seem logical and often are gleaned from legends about successful start-ups, at best, these variables explain only a small part of who will be a successful entrepreneur and which ventures will succeed.
Entrepreneurship as a Social Activity We propose that a more accurate picture of entrepreneurship emerges when it is viewed as a social rather than an individual activity.Industrial venture capital pools usually focus on funding firms that have a high likelihood of success, like high-tech firms or companies using state-of-the-art technology in a unique manner.
5 Most Important Business Skills Every Entrepreneur Must Have If you want to be a successful entrepreneur, these are the skills you need to have. By Murray Newlands Contributor, regardbouddhiste.com Entrepreneurial Skills The Skills You Need to Build a Great Business the ability to keep going in the face of hardship, and the social skills needed to build great teams.
If you want to start a business, it's essential to learn the specific skills that underpin these qualities. Interpersonal Skills. As .
Entrepreneurial Skills The Skills You Need to Build a Great Business the ability to keep going in the face of hardship, and the social skills needed to build great teams. If you want to start a business, it's essential to learn the specific skills that underpin these qualities.
Interpersonal Skills. As . They determined that the best measures to identify a young entrepreneur are family and social status, parental role modeling, entrepreneurial competencies at age 10, academic attainment at age 10, generalized self-efficacy, social skills, entrepreneurial intention and experience of unemployment.