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Who is an Entrepreneur? 

One definition is;

‘a person who serially innovates to build something of value’. 

But what exactly makes a true entrepreneur?   – one who has the character, skills and knowledge to ‘build something of value’, and is clearly able to develop the idea into an opportunity, bringing together the necessary resources.

There are many books, models, profiles and theories about what constitutes an entrepreneur, and what personality and character traits they might have. The general misconception is that anyone who owns, establishes, or leads a business venture are entrepreneurs.

Entrepreneurs are often described as ‘leaders’, whilst others use terms such as 'craving control', 'sees opportunities', 'visionary', 'dreamer', 'creative', 'asking the right ‘what-if’ questions’.

The impression is that all business owners are budding entrepreneurs. Business owners are often the 'Technician', the person doing the work (working in the business), the Manager, and/or the leader (working on the business).

Not all people who set up their own business are true entrepreneurs, but with the right guidance and learning they can be developed.

Whilst it is difficult to measure, some believe that fewer than 1% of people who set up their own company are true  entrepreneurs, whilst the potential number may be as high as 10% (figures from the USA have quoted up to 40% could have the potential). This means that only a very small fraction of business owners are currently true entrepreneurs, although there is a larger number who have not yet been 'spotted' for their potential.

How can they be empowered to greater success?

What is ignored by the figures above is that through the right development many many more people have the potential. There is a perception in society that people don't change, can't develop new resourceful strategies, ways of thinking etc. It is this potential that can be developed through change interventions such as NLP, and through learning new skills and techniques – the key is being able to identify entrepreneurs, and those that have the potential.

People can change to become successful in life and business, so through ACT and the approach we take, we unlock the potential within the person, and align their goals in life such that the business supports these goals. Then we can align the business for leverage to achieve these goals - everything flows towards the outcome, the ultimate purpose. All people, systems and processes supporting the business are aligned towards this common, worthy objective, bringing motivation, interest, purpose and fulfillment to careers and lives.

The model as set out in the book 'Entrepreneurs -Talent, Temperament, Technique', by Bill Bolton/John Thompson, Second Ed. 2004, establishes that successful business development by starts with the 'Person', their Talent, Temperament and Techniques. Traditionally, it has been assumed that one can train people to improve techniques, we can to some extent control temperament, but we cannot alter raw talent.

Having spent the last 18 months understanding techniques that change and empower people to enable themselves, and clear out their negative strategies and limitations in order to achieve personal goals and successes, it is refreshing, for ‘temperament’ to be so clearly identified as being a critical factor in the process of being entrepreneurial. 

Many Business Coaching (or entrepreneur enabling) organisations focus upon the ‘processes’ within the business, for example; sales systems or marketing, and other soft skills such as negotiation techniques etc. Other consultants focus upon team building and such like as a means to improving performance. In other words, most coaching and training focuses upon technique. The temperament of the owner/leader, and development of raw talent is largely overlooked, or even given up as being unchangeable.  

The initial stage of developing a business is all about the People and Ideas.  The systems stage is one of getting ready to build and grow, and the last stage (the output) is building something of recognised value. Between the initial and systems stages there should be some sort of trigger event; basically a go/no go decision as to whether the people and idea combination have the potential to develop into a viable profitable business.

What is key therefore is that the person on the front line of the new business opportunity, their Talent and Temperament, is critical to the success of the business venture. Identifying that potential and being able to empower and align is critical. 

Having the right temperament may be critical to maintaining the passion and motivation to create something of value, both by the entrepreneur and his team.

The Idea itself (the product or service) is only going to be as good as the people driving it forwards.