Do You Have What it Takes to Start a Business?
March 3, 2007
If you want to know how to get somewhere, ask someone who has already arrived. In a USA Today article, Jim Hopkins asked “entrepreneurs, private investors and academics which experiences, traits and skills” could help a person succeed with their own business. Their answers are listed below:
- Childhood experience
- Entrepreneurial genes
- Family support
- Money doesn’t motivate
- Passion
- Pragmatism
- Risk-taking
- Strong ethics
- Tech ease
- Tenacity
- Resources
My favorite piece of advice was that money doesn’t motivate. Scott Laughlin, director of the University of Maryland’s tech entrepreneurship program summed it up with the following quote
“Entrepreneurs are much more interested in ‘wealth’ rather than ‘riches,’ Riches are piles of money, wealth is broader, encompassing less-tangible rewards such as respect and independence.”
It makes sense that if we can focus on what we want to create and who we want to become as a business owner, we’ll be motivated to succeed and the money will follow.
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