Practical return on effort impel serial entrepreneurs

By siliconindia   |   Wednesday, 03 November 2010, 09:21 IST   |    5 Comments
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Practical return on effort impel serial entrepreneurs
Bangalore: 62 percent of serial entrepreneurs see it as a top priority to get a practical return on time or money spent - a value that is viewed as primary by only 38 percent of U.S. adults, says a study by TTI Performance Systems named 'Do You Have What It Takes to Be a Serial Entrepreneur?' The fact that it is not just small businesses, but startup businesses in particular have long been the engines of job creation, making entrepreneurs crucial drivers in the race to put people back to work, has made it urgent that the strategy for stimulating global economic growth should include reliable ways to identify those individuals who have the characteristics to succeed at building a viable business. And serial entrepreneurs are those who have created more than one successful business which employs others. According to group of serial entrepreneurs studied by TTI, most of them earned impressive track records, having on average built five different businesses and sold two of them. Most have experienced failure at some point (66 percent) but persevered to achieve solid successes that have them in the 36 percent tax bracket (80 percent). An examination of the attitudes that motivate serial entrepreneurs based on six fundamental value areas common to all people namely Aesthetic, Utilitarian, social, traditional, theoretical and individualistic, majority held on to the Utilitarian attitude, 62 percent of serial entrepreneurs ( a U.S. average of 38 percent), with 21 percent on theoretical and 10 percent on individualistic. Only 10 percent of repeat entrepreneurs rank the desire for personal power number 1, about the same proportion as the rest of the population Remembering that values are the drivers of behaviors, the firm, a developer of assessment tools for job matching and other functions asserts that it is significant that serial entrepreneurs are dramatically more utilitarian than is average in the U.S. population. It also points out that an Individualistic value indicates a higher than normal drive to have power and to exert control over what goes on around them. The study says that serial entrepreneurs who are utilitarian in nature have the advantages like ability to protect organizational or team finances as well as they do their own, are profit-driven and bottom-line oriented and are highly motivated to achieve and win in a variety of areas. They also pay attention to return on investment in business or team activity, are highly productive and show a keen awareness of the revenue clock - their own and the organization's.

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