unc kenan-flagler presentation -- the psychology of entrepreneurship
DESCRIPTION
Slides from a presentation on October 7 to students participating in UNC's GLOBE program -- an international business education program bringing together students from the U.S., Denmark, and Hong KongTRANSCRIPT
The Psychology of Entrepreneurship
John Bradberry
GLOBE ProgramUNC – Kenan Flagler Business School
October 7, 2013
Flow
• Psychology of Entrepreneurship• 11 Core Characteristics• Assessment Feedback and Discussion• Integrate Insights
Most People Want to Do It
In a 2007 survey by Intuit:
72 percent of working adults said they wanted to start their own business
Reality
Most ventures close within 5 years of formation.
7 of 10 close within 10 years.
Reality
The typical business owner will earn 35% less over a 10-year period than if
he or she worked for someone else during the same period.
Reality
6 of 10 people who become self-employed go back to work
for someone else within 10 years.
Business owners report longer work hours and more stress,
fatigue, insomnia, depression, and conflict with spouses.
Reality
WHY?
An Exploration
• 55 hours of interviews• 51 books• 83 research papers• 500+ online sites, blogs, magazines, etc.• Filtered through personal experience and
observation
A Core Issue
+
Entrepreneurial Passion
Ideas
Innovation
Entrepreneurship
+ Staying Power
Purpose / GoalsSkills / Expertise
PersonalityRelationships
Resources
Founder Readiness
Founder Readiness
Purpose / GoalsSkills / Expertise
PersonalityRelationships
Resources
Personality
Ash Khan, omni-potence
Entrepreneur Core Characteristics Profile (ECCP)
• 11 dimensions of personality
• An awareness raising tool
• Revisions underway -- Your feedback appreciated
Keep in Mind …
• Not predictive of success as an entrepreneur
• No single “best” entrepreneur profile
• Not measuring skill, but rather tendency/preference.
• Scores are relative, not absolute
Eleven Core Characteristics
• Commercial Orientation• Conceptual Orientation• Independence• Need for Achievement• Risk Tolerance• Confidence• Persuasive Ability• Resilience• Reliability• People Orientation• Integrity
Commercial Orientation
Conceptual Orientation
Independence
Need for Achievement
Confidence
Entrepreneur.com
Persuasive Ability
Reliability
People Orientation
flashmobBarcelona.jpg
Integrity
Icarus Qualities• Commercial Orientation• Conceptual Orientation• Independence• Need for Achievement• Risk Tolerance• Confidence• Persuasive Ability• Resilience• Reliability• People Orientation• Integrity
FOUNDER A
FOUNDER B
FOUNDER C
FOUNDER D
FOUNDER E
Individually (10 min.)
Review and absorb your report:
• What rings true?
• What is most surprising?
• What questions does it raise?
In Pairs (15 min.)
Discuss your feedback:
• What 1-2 insights might apply to my founder or team role?
• Key questions going forward?