Wednesday, January 18, 2012

Entrepreneurs ... Born, or Made? (Follow-up Part 2)

HERE is another segment related to the question: Are Entrepreneurs Born, or are they Made?

BTW - if you have not yet participated in our Linkedin Poll related to this question, please do so before the poll closes at the end of January 2012.  Take a moment to review the responses and feedback that people have provided!  Cast your vote, and learn from the many who have have already posted. For those unable to access Linkedin, we'll post some of the best comments that we've seen to this BLOG, so be sure to watch for updates!

Here are a few additional findings from "Nurture or Nature: Decoding the Entrepreneur," the report that was released a few months ago by Ernst and Young.  (A survey of 685 entrepreneurs from E&Y's worldwide and in-depth interviews with winners of the Entrepreneur Of the Year award.)

Entrepreneurship is rarely a one-off decision
For the majority of entrepreneurs launching only one business venture is clearly not enough.  Sixty per cent had started three or more companies, 20% six or more and 10% said they had founded more than ten companies in their career to date.  That doesn’t mean that having created these companies they automatically cut all ties with their previous interests.  Among the survey respondents, 45% say that they have retained some ownership in each of their previous ventures, and 28% say that they have retained a stake in some of them.

Funding, people and know-how are the biggest barriers to entrepreneurial success
Among the 6 out of 10 respondents who experienced obstacles in their ventures, the most common barrier to future growth cited (33%) is the lack of funding or finance.  This reflects the current environment, where many entrepreneurs said they continued to experience problems with accessing finance, despite a gradual easing of credit conditions in many countries.  The two other most-cited obstacles are recruiting the right people with appropriate expertise.

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