Self-confident, driven, visionary, a risk-taker, all traits that quickly come to mind. Even so, the SBA Office of Advocacy has looked to give the question a more definitive answer by taking it one step further. This month the SBA released the results of an ongoing study, which attempts to determine if and what college experiences lead one to wear the hat of an entrepreneur.
The study looks at a group of college graduates from the class of 1993 and periodically tracks their job progress for 10 years. By delving into “college experiences” they were able to identify specific characteristics of individuals who are self-employed versus those who opt to work for a for-profit business, a not-for-profit entity, or the government. It’s an interesting study that establishes some thought provoking conclusions.
According to the study, if you did one or more of the following in college, you are more likely to be an entrepreneur than work for somebody else:
- Majored in something outside of the hard sciences (engineering, math, chemistry, biology, etc.);
- Tended to be a “jack-of-all-trades”—taking many different courses, but not mastering any;
- Have not go on to graduate school;
- Had a lower GPA than your peers who ended up working in the nonprofit and government sectors.
The study concludes that entrepreneurs seem to be more “average” than exceptional in respect to the general population. Keeping in mind that this was only a sample from one year, my experience shows the assumption to be fairly accurate. I’d be more interested to hear if the self-employed out there agree…
When we think of great business leaders, many things may come to mind; the ability to inspire, to motivate, to be a visionary, or perhaps to radically challenge the status quo. Each attribute demonstrates a cornerstone of strong leadership, but this being known, the question facing many in leadership positions today is - Do we need to include the “being tech savvy” to the list?
Is it counter-intuitive to start a new venture in a down economy? Few will argue that the current environment provides the perfect breeding ground for success, however, amidst the negativity, opportunities do exist for new ventures to succeed. Many well-known businesses have been started during down economic cycles. Major brands, such as Hewlett Packard, Coors, Disney, Super 8 Motels, and even Microsoft were all started during periods when economic forecast was far from sunny. The question should be, “Who will be next?
Like many organizations, my company is going through its fair share of leadership changes. Be it promotions, transfers, reorganizations or resignations, there are countless reasons as to why leaders will move on to other opportunities. With the uncertainly that a temporary void in leadership creates, it also opens a narrow window of opportunity for aspiring leaders at all levels. The key is not only noticing when these opportunities arise, but being fully prepared to take advantage when they do. Doing so effectively can help you position yourself as a key player when new management begins to step in.
