What Kind of Entrepreneur Are You?

Recently, two widely divergent articles appeared in the Harvard Business Review, both attempting to outline those characteristics necessary in entrepreneurs.   Both articles were perceptive, intuitive, and grounded in the logic and experience of their authors.  However, in tone and content, they were diametrically opposite.

The first article, written by Daniel Isenberg, a Professor of Management Practice at Babson College, was generally optimistic in tone, while the second, written by Seth Kravitz, the CEO of InsuranceAgents.com, was decidedly more pessimistic.

Taken together, these 39 characteristics provide a thorough, if disparate description, of what it’s like to be an entrepreneur.

I have weighed in on each characteristic, hopefully to supply amplification and clarity rather than confusion.

What kind of entrepreneur are you?

Daniel Isenberg (with comments by Michael R.H. Stewart)

1. Isenberg:  I don’t like being told what to do by people who are less capable than I am.
   Stewart:  The relative capabilities of entrepreneurs can change in a moment based upon changing conditions.  It is wise to remain flexible and to avoid being doctrinaire.
2. Isenberg:  I like challenging myself.
   Stewart: Pushing yourself beyond your capabilities is healthy, but in the entrepreneurial world there will be plenty of external challenges without creating your own.
3. Isenberg:  I like to win.
   Stewart:  Everyone likes to win, but doing something that matters is often more gratifying.
4. Isenberg:  I like being my own boss.
   Stewart:  It can be very lonely at the top.  Collaboration is often a better model.
5. Isenberg:  I always look for new and better ways to do things.
   Stewart:  Creativity and innovation are the hallmarks of effective  leaders.
6. Isenberg:  I like to question conventional wisdom.
   Stewart:  Conventional wisdom is often just that … conventional.  True wisdom often breaks the mold.
7. Isenberg:  I like to get people together in order to get things done.
   Stewart:  Working through others is often more effective and efficient.
8. Isenberg:  People get excited by my ideas.
   Stewart:  There is nothing quite so powerful as a new idea, but keep in mind that the best idea without skilled execution is worthless.
9. Isenberg:  I am rarely satisfied or complacent.
   Stewart:  Satisfaction, if warranted, is always appropriate.  Complacency never is.
10. Isenberg:  I can’t sit still.
    Stewart:  Movement for its own sake can be obsessive and counter-productive.  Positive momentum is more important.
11. Isenberg:  I can usually work my way out of a difficult situation.
    Stewart:  Thinking your way out, followed by action, is more constructive.
12. Isenberg:  I would rather fail at my own thing than succeed at someone else’s.
    Stewart:  Failure is never an option.
13. Isenberg:  Whenever there is a problem, I am ready to jump right in.
    Stewart:  Taking personal initiative is vital.  Better still is to encourage your staff to bring you solutions instead of problems.
14. Isenberg:  I think old dogs can learn — even invent — new tricks.
    Stewart:  Wisdom comes from experience, not age.
15. Isenberg:  Members of my family run their own businesses.
    Stewart:  Every entrepreneurial business is unique.  Accept advice from family, but remember there are no cookie-cutter solutions.
16. Isenberg:  I have friends who run their own businesses.
    Stewart:  Accept advice from friends, if appropriate, but remember you are solely responsible for your success or failure.
17. Isenberg:  I worked after school and during vacations when I was growing up.
    Stewart:  It’s crucial to live an integrated life.  There are more important things than work.
18. Isenberg:  I get an adrenaline rush from selling things.
    Stewart:  In business, nothing happens until someone sells something.  It is an essential function in successful companies.
19. Isenberg:  I am exhilarated by achieving results.
    Stewart:  Without results, you are a hobbyist not a businessman.

Seth Kravitz (with comments by Michael R.H. Stewart)

1. Kravitz:  I am willing to lose everything.
   Stewart:  Losing everything is always a possibility, but a willingness to do so can be a self-fulfilling prophecy.
2. Kravitz:  I embrace failure.
   Stewart:  Accepting failure is a sign of maturity, embracing it is foolish.
3. Kravitz:  I am always willing to do tedious work.
   Stewart:  Never ask employees, to do anything you are not willing to do yourself.  But remember, you are being paid to think outside the box, not to manufacture it with your own hands.
4. Kravitz:  I can handle watching my dreams fall apart.
   Stewart:  If you can handle watching your dreams fall apart, you have no business being an entrepreneur.  Simple as that.
5. Kravitz:  Even if I am puking my guts out with the flu and my mother passed away last week, there is nothing that will keep me from being ready to work.
   Stewart:  Selfless and mindless determination to work, is a trait for addicts, not professionals.
6. Kravitz:  My relationship/marriage is so strong, nothing work-related could ever damage it.
   Stewart:  Don’t bank on it.
7. Kravitz:  My family doesn’t need an income.
   Stewart:  Someone’s family does.  Consider your coworkers, partners, employees, suppliers, customers and members of your community at large.  There will always be a productive way to use the resources your business generates.
8. Kravitz:  This is a connected world and I don’t need alone time. I want to be reachable 24/7 by my employees, customers, and business partners.
   Stewart:  Every competent entrepreneur needs alone time.  Without it, and without time for faith, family and friends, true accomplishment is impossible.
9. Kravitz:  I like instability and I live for uncertainty.
   Stewart:  Nonsense.  An entrepreneur needs instability and uncertainty like a fish needs a bicycle.
10. Kravitz:  I don’t need a vacation for years at a time.
    Stewart:  Perhaps not, but as an entrepreneur you deserve one. Take it.  Self-denial is for monks.
11. Kravitz:  I accept that not everyone likes my ideas and that it’s quite likely that many of my ideas are garbage.
    Stewart:  Humility and introspection are valuable assets, but if many of your ideas are garbage perhaps you are in the wrong business.
12. Kravitz:  If I go into business with friends or family, I am okay with losing that relationship forever if things end badly.
    Stewart:  Preparation and sustained effort will make disappointing friends or family unnecessary.  Losing those you love should be abhorrent.
13. Kravitz:  I don’t have existing anxiety issues and I handle stress with ease.
    Stewart:  Equanimity under pressure and patient resolve are necessary to success and sustainability.
14. Kravitz:  I am willing to fire or lay off anyone no matter what — how good of a friend they are, if they are my own sibling, if they just had a baby, if they have worked with me for 20 years, if their spouse also just lost their job, if I know they might end up homeless, if they have cancer but no outside medical insurance, or any other horrible scenario millions of bosses and HR people have faced countless times.
    Stewart:  Again, nonsense.  Entrepreneurs do not have a license to be heartless.
15. Kravitz:  I am okay with being socially cut–off and walking away from my friends when work beckons.
    Stewart:  There is no nobility in being a workaholic.  Being connected willingly, with those you care about, is a sign of being civilized.
16. Kravitz:  I love naysayers and I won’t explode or give up when a family member, friend, customer, business associate, partner, or anyone for that matter tells me my idea, product, or service is a terrible idea, a waste of time, will never work, or that I must be a moron.
    Stewart:  Well-intentioned criticism is a scarce commodity.  You can and should welcome it.
17. Kravitz:  I accept the fact that I can do everything right, can work 70 hours a week for years, can hire all the right people, can arrange amazing business deals, and still lose everything in a flash because of something out of my control.
    Stewart:  Understanding S.W.O.T. analysis, (the Strengths, Weaknesses, Opportunities, and Threats involved in a business venture), is simply good strategy.
18. Kravitz:  I accept that I may hire people that are much better at my job than I am and I will get out of their way.
    Stewart:  The unselfish relinquishment of position or title, when your business welfare requires it, is the sign of a true professional.
19. Kravitz:  I realize and accept that I am wrong ten times more than I am right.
    Stewart:  You should strive mightily to be right at least 51% of the time.
20. Kravitz:  I am willing to walk away if it doesn’t work out.
    Stewart:  Never, never give up.  Walking away is never an acceptable solution.