This post comes to you from Palo Alto, California, where I am attending a forum on the future of small business.
I got to my room and started to look at today’s USA Today, which had a special section on small business. I was pleased to see that the main stream media is starting to get entrepreneurship right. The special section seemed to have a good overview of what it takes to be an entrepreneur. This was nice to read, as the media still doesn’t seem to always “get” entrepreneurship.
They highlight that entrepreneurs are after more than just money. This is a big leap, as the media seems to still be fixated on those who make the biggest fortune. They also seem to get risk-taking: “would-be entrepreneurs are calculated risk takers.” Also good to read, as they too often glamorize the extreme, and often careless risk-takers.
But, then I see that while they admit that “a college degree doesn’t hurt,” they go on to say that Bill Gate didn’t finish college. Blah, Blah, Blah. The data shows that he is the exception. Success rates go up dramatically for those who get educated in the entrepreneurial process. At this point I am beginning to worry that they are going back to their old ways.
Then they make a slip as bad as Mel Gibson’s. They run one of those hokey quizzes that has “ten questions” to see if you are “an entrepreneur.” YIKES! Just when I thought they were beginning to get it right…..
I guess that is why I keep blogging…..
Dr Jeff Cornwall
Co-founder of The Entrepreneurial Mind, serial entrepreneur and professor of entrepreneurship.
Jeff,
You’re right, in that they (USA Today and other mainstream media) partially get it. It is very difficult for those writing the stories to ever “get it” though unless they’ve riden in the same saddle as you and I as small business owners. If so, they would know that those which haven’t studied, read, or furthered their education more formally are those that are the biggest risk takers (typically on the way to the death of their businesses and financial future). They don’t know to be “calculated risk takers” or how to plan for the risks. Bill Gates as you said is an exception. Of course there are others that have succeeded but they are the exception rather than the rule.
Thanks for sharing your thoughts once again.
Charles Hagood
So..did you take the quiz???…and are you “fit” to be an entrprenuer???…just wondering.
Many people have misconceptions of what it means to me an entrepreneur. If someone was to ask me to define an entrepreneur, I’d be way off before taking this class. Successful entrepreneurs are far from reckless risk takers. They plan every step of the way and calculate every risk. Maybe one day they media will get it completely right. I know that even though I’ve took this class, I still have lots to learn!
Do keep blogging Jeff! We’re counting on you as a voice of reason. Thanks for all you do.
For me entrepreneurship is a process of taking many small risks which lead me towards a succession of achievments and failures. Each achievment then opens up a whole new set of decisions and risks and each failure is a benchmark for my future decisions.