Building Blocks of a Successful Entrepreneur

BUILDING BLOCKS OF A SUCCESSFUL ENTREPRENEUR An Entrepreneur - The Statistics The average and median age of company founders when they started their current companies was 40. 10.5 % of Australian Nearly adults are actively engaged in entrepreneurship. 95.1 % of respondents themselves 69.9 % of respondents indicated they were married when they launched their first business. An additional 5.2 percent were divorced, had earned bachelor's degrees, and 47 percent had more advanced degrees. separated, or widowed. 74.8 % 59.7 percent of respondents indicated they had at least one child when they launched their first business, and 43.5 percent had two or more children. have desire to build wealth as an important motivation in becoming an entrepreneur. 75.4 % had worked as employees at 51.9 % other companies for more than 6 are the first in their families to launch a business. years before launching their own companies. Predictors of Entrepreneurial Success 1.Professional Experience Research shows that 34 year-olds with domain experience and management expertise do the best. 2.Creative (and Positive) Thinking Creativity, positive thinking and curiosity is the magic formula for success. Being at least 28 with some real world experience and project completion skills is a key predictor of success. 3.Fluid Intelligence 4.Agreeableness People who are Straightforward, considerate and cooperative do better overall. More friends in different spheres help you a lot when you Logical thinking, abstract thinking and an ability to recognize patterns are important skills for call in for favors for a startup. entrepreneurs. Top Pieces of Bad Founder DNA Narcissism Excuse- making Emotional instability Predatory aggressiveness Deceitfulness PRESENTED BY mavericksolutions.com.au PREPARED BY Media Mos aic Differentiate yourself. www.media-mosaic.com Sources: http://eprints.qut.edu.au/53060/3/Global_Entpreneurship_Moniitor_Australian_2011_National_Report_for_e-prints.pdf http://smallbusiness.foxbusiness.com/entrepreneurs/2013/08/29/5-must-have-entrepreneur-qualities/ http://smartbusinesstrends.com/10-qualities-of-highly-successful-entrepreneurs/ http://www.forbes.com/sites/patrickhull/2012/12/06/qualities-of-successful-entrepreneurs/ http://www.entrepreneur.com/article/230350 http://onstartups.com/tabid/3339/bid/10561/12-Facts-About-Entrepreneurs-That-Will-Likely-Surprise-You.aspx http://www.forbes.com/sites/kateharrison/2013/02/28/predictors-of-entrepreneurial-success-are-not-what-you-expect/