(MoneyWatch) I'm incredulous
when I read or hear people talking about some kind of prototypical
entrepreneurial profile. Many well-meaning experts, and even empirical
research, would have you believe that most successful entrepreneurs fit an
identifiable personal mold. But based on my own experience, and my associations
with many entrepreneurs -- both successful and not so much -- over two decades,
this is simply not true.
Some common myths and misconceptions
about the personality of entrepreneurs:
The risk-taker myth: This is the classic notion that entrepreneurs are big
risk-takers. Certainly some are -- starting a business is inherently, and
statistically, risky in and of itself. But the majority I've known are, in
fact, quite risk-averse. Or more accurately, they're willing to take necessary
risks that they can stomach. Many have no choice but to personally guarantee
loans, putting their savings and even their homes on the line. Aside from the
risk of outright failure, such extreme personal leverage is often the biggest
gamble a small business founder will want or need to take. For sure, there are
"skydivers" and all-in gamblers out there who will wager not only
their own money, but that of others as well, sometimes on long-shot ideas. But in
the great landscape of small business, they are the exception and not the rule.
The eternal-optimist myth: I've known plenty of very successful, very wealthy founders
and business owners who were not of the "everything will work out
fine" mentality. I'm not promoting curmudgeonry, or suggesting that a
strong sense of optimism can't help someone get through the stressful
challenges of entrepreneurship. But too much of it can lead down the primrose
path.
More than a few startups have flamed
out, or running businesses sustained ongoing damage, while their founders
refused to let go of some version of an "everything's gonna work out"
mantra. A little cynicism, even (gasp!) pessimism doesn't make you a
self-defeating business person. It's a healthy, mature hedge against the inevitable
things that no amount of optimism can overcome.
