I do not believe there are traditional qualifications which make a business owner a winner. Drive, common sense and intuition count for a lot more. Even inventors and technical experts who start businesses tend not to be organisational types. They are often mavericks who want the freedom of self-employment. And although entrepreneurs have a reputation as wild risk-takers, in reality they judge the downsides carefully – because they have their own capital at stake, and they have learned about the dangers of the marketplace first hand.
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Typical entrepreneurs would have never been hired by these corporations – or indeed understood the complex modelling upon which the financiers based their entire business model. But the bankers placed far too much faith in such artificial worlds of computer programs and clever buzz words – and completely lost the plot.
Rajesh Patel, a client who’s starting on his own after an impressing career, suggested a Financial Times article about entrepreneurs and why top companies failed. It was a very interesting reading. My belief in entrepreneurs and entrepreneurship just got thicker!
Entrepreneurs take decisions on gut instincts. They of course study the background and numbers, but more often than not, their decisions are based on their intuitions. It’s managers who decide by spreadsheets!
What’s your take?