Sunday, January 12, 2014

We Need Entrepreneurs Who Can Drive Global Change

teslaBy most definitions of the term, an entrepreneur is someone who starts a new business, incorporating innovative changes to existing products, services, business models, and creating new markets. Yet very few achieve that great aspiration of really driving economic, social, and environmental changes on a global scale.

What does it take to get to that level? One way of identifying the right characteristics and approaches is to take a hard look at entrepreneurs who have done it. Peter Andrews and Fiona Wood, in their new book “Überpreneurs” have profiled 36 leading candidates for this category, to extract a set of common characteristics. Here are some recognizable entrepreneurial examples I like, just from the technology space:

  1. Driven by an epic ambition. Each of them has seen and seized opportunities for change, sensed the way forward, garnered the necessary resources, and pursued their dreams, regardless of the odds. All of them, in the late Steve Jobs’ words, “push the human race forward.” He agreed with Mark Twain on keeping away from people who like to belittle your ambitions.

  2. Opportunistic and visionary. They must be constantly on the lookout for new ideas and intuitively grasping their potential implications, seeing and seizing opportunities for change. Bill Gates telephoned Ed Roberts, the man behind the first microprocessor, to offer a BASIC software package that he and Paul Allen had not yet written because he knew that one day there would be “a computer on every desk and in every home.”

  3. Innovative yet pragmatic. Überpreneurs are willing and able to jump organizational, cultural, and geographic boundaries as they sense their way toward novel but practical solutions. Mark Zuckerberg envisioned Facebook as a virtual social network built on a lifetime of friendships, while offering advertisers a powerful and targeted marketing tool.

  4. Persuasive and empowering. Offering irresistible investment propositions and attracting talented and loyal followers is key, as they garner the resources to pursue their goals. Larry Page of Google piqued the interest of venture capitalist John Doerr with an outrageous revenue estimate of “$10 billion,” a target that was met in less than ten years.

  5. Focused and confident. All are indomitable spirits who assume total control and drive full steam ahead toward the realization of their dreams. Richard Branson once said “My interest in life comes from setting myself huge, apparently unachievable challenges and trying to rise above them.” “I have always lived my life by making lists … Each day I work through these lists, and that sequence of calls propels me forward.”

  6. Resilient and courageous. Taking bold but calculated risks is the norm, learning from their mistakes, and thriving on change and uncertainty as they upend your world, regardless of the odds. Jeff Bezos of Amazon once said that if you are going to do large-scale invention, you have to be willing to fail, think long-term, and be misunderstood for long periods of time.

  7. Consistently produce results. All of them have created massive new capital, be it financial or technological, social or spiritual. All of them have transformed the condition of mankind – for the better. Elon Musk is a South African born Canadian-American engineer, business magnate, investor, and inventor who founded and built PayPal, SpaceX, and Tesla Motors, and is still going strong.

The real question is how do we produce more of these? I don’t see anything genetic here, as these have come from some very diverse backgrounds, with the normal mix of middle-class, upper, and lower economic environments.

My best suggestion, like the authors of Überpreneurs, is that we just teach aspiring entrepreneurs the facts, help them build their networks, supply them with some resources, and simply get out of their way. If you have a better suggestion, I’ll be happy to learn from it.

Marty Zwilling


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4 comments:

  1. Easier said than done but risk-taking, leadership are qualities necessary to start a business and grow the same.Failure is part of the whole process and thus improving upon the same is a challenge lot of start-ups face. There are various tools which aid in improving the existing methodology.

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  2. Good list. How do we produce more of these? Here are a few things I am doing

    1. Reduce friction by creating eco-systems that foster and celebrate these characteristics.
    These people (and I like to count myself among them) are clearly not 'normal' which results in huge amounts of friction in a 'normal' business world. An eco-system such as Silicon Valley reduces friction by being an abnormal eco-system; we need more such eco-systems.

    2. Reduce the risk of failure.
    Reduce especially the devastating consequences of failure. See my Bulletproof Income Plan (http://trianglesofpower.com), the first strategy I know of to insure entrepreneurs and investors against failure. Entrepreneurs don't start businesses to make a living, they have a bigger mission ... to make an impact or dominate a niche at a local or global level, so insuring them against failure empowers them to focus more freely on building their business.

    3. Enhance the probability of success.
    Too often entrepreneurs do not tap into the knowledge resources they need to build robust business plans. TOP creates an eco-system that dynamically leverages knowledge and money resources in ways that make them accessible and affordable to startup entrepreneurs.

    Shaun Lindbergh (connect with me on LinkedIn http://za.linkedin.com/in/shaunlindbergh/)

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  3. To be a forward-looking entrepreneur it is not enough to study excellent and to get along with people. You need to develop your intuition, to seek special ways to get necessary information, to be able to act in stress and risk. Furthermore you need to be aware of cash flows process. cashadvanceloanstore site will help with your business.

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  4. Hello,
    I'm looking for an investment partner for the construction of a plant oil and soybean pellets in Argentina.
    The investment is 1.7 million euros, corresponding to 40% of the company and is amortized over approximately four years. The plant will process 100 tons / day of soybean, of which 15 tons are oil and 85 tons of pellets.
    If interested or want to offer people who are interested, email me at: ronald@gmx.es who gladly informed and sent a copy of the project.
    Regards
    Ronald

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