THE CULTURE OF AN ENTREPRENEUR
Culture is defined as the behaviors and beliefs of a particular group of people. Developing the right culture is imperative to business success, so in this module we will explore the typical behaviors and beliefs common among successful entrepreneurs. Participants can complete a personal SWOT analysis to determine the type of business they are best suited for, the skill sets they should possess or acquire, and the skill sets necessary in their founding team members.
After this module, you should be able to:
1. Compare and contrast the entrepreneur vs. employee mindset.
2. Identify the common behaviors evident in successful entrepreneurs.
3. Complete a personal SWOT analysis to identify areas that need improvement in order to successfully pursue a start-up.
4. Identify the talent, skills, and behaviors to look for in founding team members to round out your skill set.
STEP 1: READING ASSIGNMENT
Read the following articles and then complete the activities in step 2.
STEP 2: PERSONAL SWOT
A SWOT analysis stands for Strengths, Weaknesses, Opportunities and Threats. People often use this when evaluating their business, but you can also use it to evaluate yourself. Anyone considering entrepreneurship should go through this process for a number of reasons. It will help you figure out the areas you need to improve before you launch, find out whether or not you have the skills and abilities necessary to launch the particular business you have in mind, and finally to identify what type of founding team members you need to get the business off the ground. Click on the links below to complete the SWOT, EQ and Grit tests.
1. Personal SWOT Analysis
2. Determine your EQ by Guy Kawasaki
3. Grit: The Top Predictor of Success by Josh Linkner (Read the article and then click on the link within the article to take the Grit Test)
STEP 3: ANALYSIS
1. Review your scores and answers from the EQ, Grit test, and SWOT analysis side by side. What patterns do you see? Take a hard look at what the information is telling you. Do you have the right skills and behaviors to launch this business? Are your strengths and past experiences in line with the industry or market you are going into? Are you a subject matter expert in the main focus of your business and can you build or sell your product/service?
2. Identify the skills you do NOT bring to the table–including work experience. This is going to help you identify the type of co-founders you should start looking for.
3. Take your EQ and Grit scores along with your SWOT to a trusted mentor or adviser to review. Explain your business idea to them and ask for their honest opinion about whether or not you are suited for this business.