Most entrepreneurs are disappointed with their results.
Some of the most careful research in the field indicates that:
- Over 30% of all entrepreneurs in America give up before even launching their business
- Once their business has launched, the average entrepreneur makes less than they would have if they had a comparable job – even after the business has been established as viable
- Most businesses that are launched fail within 5 years
Entrepreneurs start companies that make money or enterprises that deliver social good. Successful entrepreneurs deliver products or services that real customers find valuable enough that they are willing to pay money for them.
That is not enough. Growing an enterprise is a very different endeavor. You cannot grow an enterprise without first having developed a valuable product or service, but the challenges of growth are very different than the challenges of product and business model verification.
An Entrepreneurial Leader (EL) is more than an entrepreneur and a leader combined. An EL must be both selfish and selfless at the same time. And that requires plenty of skill.
Let me define ‘skill’; it is the ability to perform a prescribed task. Skills can be learned although each person may demonstrate a greater or lesser ability to perform the task under different types of conditions (i.e., levels of competence).