Lots of folks claim to be entrepreneurs––half the time, though, that’s just code for “unemployed.” What separates the real ones from the fake ones? The Sydney Morning Herald offers eight suggestions. Here are two:
- All or nothing. I always hesitate when an entrepreneur is working in a few ventures, or is trying to start a venture and working in a full-time job. I tried that myself – a near full-time job while starting a venture – and it did not work. Start-up entrepreneurship requires nothing less than 100 per cent commitment. Surely if the idea is that good, the entrepreneur will put their whole focus on it.
- Sacrifices. When looking at smaller listed companies, I like founders who are willing to forgo a decent salary early on, in return for “sweat” equity in the company or bigger rewards later – and who leave all the money-wasting perks for executive fat-cats. Those who want a decent salary upfront are usually managers rather than real entrepreneurs.
Full story at Sydney Morning Herald.
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