Target Training International released a study in January showing the main traits successful entrepreneurs possess. It then used those same methodologies to release a similar report, this time showing some key traits and skills most serial entrepreneurs don’t possess.
After analyzing a group of 17,000 entrepreneurs, there were four skills found lacking in most of the subjects.
According to Bill J. Bonnstetter, chairman of Target Training International, the statistical significance is derived by comparing the lowest-ranking skills to the entrepreneurs’ top skills, as evaluated in the first study. In a blog he wrote for the Harvard Business Review, Bonnstetter says, “Entrepreneurial-minded individuals possess a distinct set of skills that lead to great leadership and ideas. Perhaps the skills they have not mastered are equally important. With an understanding of those weaknesses, they can compensate for them by surrounding themselves with people who excel in these areas.”
That January study showed that serial entrepreneurs are persuasive and goal oriented, possess leadership and interpersonal skills, and are goal oriented.
Entrepreneurs build things and solve problems for people, but according to this study they do this in hopes of a return on investment.
So, as an entrepreneur, what types of people do you need to surround yourself with in order to be successful?
According to the subsequent study’s finding, empathy is one of the qualities serial entrepreneurs lack most. They also have trouble with planning and organizing, and they struggle with analytical problem solving. Entrepreneurs have the vision, but need to employ people who can actually create an executable strategy and carry it through.”Entrepreneurs build things and solve problems for people, but according to this study they do this in hopes of a return on investment,” says Bonnstetter.