So what makes a great entrepreneur? Strong leadership skills? Good education? Previous Experience? Motivation to see things through? It depends. Join us as we dive deep into the demographic and psychographic factors great entrepreneurs share. To learn more on how to claim your place in the startup revolution check out The Startup Equation, available on Amazon: http://www.amazon.com/The-Startup-Equation-Guidebook-Building/dp/007183236X

1. building a great
entrepreneur

2. Building a Great
Entrepreneur
So what makes a great entrepreneur?
Strong leadership skills? Good
education? Previous experience?
Motivation to see things through? It
depends.
In a recent study of 549 founders,2
Duke University sought out what
demographic and psychographic
factors great entrepreneurs share. A
few things stood out:
#StartupEquation
2. Wadhwa, Vivek, The Anatomy of an Entrepreneur,
http://www.kauffman.org/what-we-do/research/2010/05/
the-anatomy-of-an-entrepreneur

3. We’re not talking college or
grad school, but high school.
Most people around the world
get a high school education
and many can’t go to college
because of some factors
(usually money), but it doesn’t
mean they aren’t some of the
smartest people.
They were supersmart
in high school.
#StartupEquation
High School Academic Performance
Top 10%
Bottom 10%
Bottom 30%
Average
Top 30%

4. While there are many young
entrepreneurs with very little
job experience, most have six
to fifteen years of experience.
This means they’ve gotten out
there and know how different
job roles, have tried a few
different companies, and see
the startup opportunity as a
next step.
#StartupEquation
They have some
industry experience
under their belt.
0-5 years
6-10 years
11-15 years
18-20 years
20+ years
Industry experience prior to
starting their own business.
24.6%
23.3%
27.6%
14.3%
10.2%

5. The media impresses upon us
that today’s entrepreneurs are
in their twenties and have the
lifestyle to go all in, but that
isn’t really the case. They
usually have experience and
want to build something that’s
great. They often look to their
family to keep them motivated.
#StartupEquationMany are married and
have at least one child.
First Born
Lower Middle Class
First in family to start a business
Married
Had at least 1 child

6. While the thought of “doing a
startup” can sound sexy, great
entrepreneurs want to build
something great. Of course,
they would like to receive
financial reward for their
efforts, but most of the time
they aren’t in it for the money.
#StartupEquation
They’re motivated to
build a company and
create wealth.

7. Finding the
leader within
As entrepreneurs and investors, there’s
something that’s abundantly clear to us
and most people in the startup world:
Entrepreneurs are natural leaders
even if they don’t realize it. When we
hear the term leadership, it’s easy to
think of presidents and big company
CEOs, but leaders are those who shine
and show the way forward.
#StartupEquation

8. #StartupEquation
Great entrepreneurs have a
singular, unshakable vision.
They clearly communicate
their vision as a driving
passion that inspires the entire
company to share their vision
and to make it their own.
They’re not the ones steering
the ship, nor are they the ones
rigging the sails.
Having a Clear,
Shared Vision

9. #StartupEquation
Great entrepreneurs are
committed to completing the
mission and achieving the
vision. Nothing can distract
them, detain them, or deter
them from reaching their goal.
Their focus is on the goal, and
they’re determined to reach it.
They must be able to say “No”
to otherwise good ideas
because they might divert
them from the task at hand.
Making the Commitment
to see it through

10. #StartupEquation
Great entrepreneurs can’t get
the job done alone. They must
enable others by equipping
and empowering them to get it
done. Instead of becoming a
monarch, the most savvy may
become a servant or ask their
staff to think of them as their
internal clients.
Enabling to get the
task done

11. #StartupEquation
Everyone must be accountable
to someone. The leader is
accountable to customers to
deliver the goods, to
stakeholders to deliver the
profits, and to employees to
deliver direction. Purpose,
empowerment, inspiration, and
reward.
Each member of the crew is
accountable to the others to
be as strong a link in the chain
as the rest. Failure and
success must be consistently
rewarded in appropriate
proportion to ensure that the
ship stays on course.
Putting accountability
in place

12. Becoming an Entrepreneur starts with knowing
yourself and what you really want out of building
a business. No two people are the same. Order The
Startup Equation to find your unique startup path.
Pre-order your
copy today!