What Makes You An Entrepreneur?
Atoms make up matter. Matter makes up things. Things make up life.
But what makes up an entrepreneur? Is it that moxie that those 1 in 1000 have? Is it that drive that’s just within the grasp of our fingers? Or is it just an amalgamation of a bunch of different things? In this article we’ll explore the various quirks and characteristics that make a good entrepreneur, and hopefully when all is said (typed) and done, you’ll emerge, ready to face the harsh world that is entrepreneurship.
Who are the entrepreneurs?
No, really, who are they? Are they a they? They’re your best friend who set up a lemonade stand. They’re the former college roommate who started their own PR firm. They’re your neighbor who invented a way to make dog poop just disappear from the ground. Most of all, they aren’t really a they. They’re you; they’re me; they’re everyone.
Below you’ll find an infographic, courtesy of williamgriggs.com, which shows that the average age of business founders when they start their business is a whopping forty years old! So right about the time of your mid-life crisis is the best time to start your own business? NO! This statistic doesn’t apply to everyone. It’s just the average age, not the appropriate age. That all depends on you.
This infographic also shows that an overwhelming 70% of entrepreneurs were married when they started their businesses, AND that 75% of them worked as employees at other companies for more than six years before launching their own business! Take note — you don’t need to quit your job to start your own business. Unless you’ve got yourself a nice little trust fund to fall back on, make sure that you’re financially secure before jumping onto the rocky road that is entrepreneurship.
What are their credentials?
A recent research project published by Duke University, entitled “Global Engineering and Entrepreneurship,” surveyed 549 company founders from the United States. Their research showed that the breakdown of country of origin of the entrepreneurs was as follows: USA — 82.5%; India — 3.8%; UK — 1.7%; Canada — 1.3%; Germany — 1.0%; Others — 9.9%. This data supports the notion that most entrepreneurial ventures are started by those people who could be your neighbors!
In terms of education, their high school academic performance was surveyed as well, showing that most of the entrepreneurs fell into the Top 10% category of their graduating class (stay in school, kids!).
Experience is also a trait that didn’t go unnoticed by the survey. The survey showed that nearly 30% of the surveyed company founders had 6–10 years of industry experience prior to starting their own business (stay at your job, kids!).
Other factors surveyed included family status and motivations that drove them to start their own companies.
All of this data has been compiled into (another!) infographic, shown below.
How do they come up with their ideas? More importantly, where?
Well, that’s easy! Just kidding. It’s not. But nothing in this life comes free — so let’s explore!
According to the infographic below, provided graciously by digitalsynopsis.com, nearly 72% of entrepreneurs surveyed had their eureka moment at work! This further affirms our strong encouragement to STAY AT WORK! Friends can also be a source of inspiration, as 57% responded was theirs.
You know how you lay in bed at night before you go to sleep, and your mind races — every detail of every step you took that day; exactly how many hours of sleep you’ll get if you go to sleep right this second; what you’re having for lunch tomorrow — let this also be a time for ideas to flow about your next great move — as 49% of those surveyed answered.
No matter where your inspiration comes from, just remember one thing — be inspired. By something. By anything. Just draw inspiration from the world around you, because it has a lot to offer.
“The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand.”
Brandon Rubinshtein, the author of this article, is an entrepreneur based in New York City with vast experience in startups. His latest venture is Verre, a “polished black car alternative that operates a cut above the industry standards”. Check it out!