Jeffrey Bussgang's “Mastering the VC Game” offers a plethora of advice when it comes to interacting with entrepreneurs and venture capitalists. But first, in order to master the game, one must examine the psyche of an entrepreneur, as it is profoundly different from that of the average businessperson. We develop and execute PR strategy for serial entrepreneurs, so delving into the psyche of an entrepreneur was a journey I was ready and willing to take. Most importantly, Bussgang points out the “entrepreneurial itch” to change and improve the world. More specifically, Bussgang calls out the following classic characteristics of entrepreneurs:
1. Visionary optimism Entrepreneurs tend to believe that their visions can and will make the world a better place. If entrepreneurs do not exhibit this type of optimism and do not believe in their visions or ideas, who will? This optimism leads to the next characteristic: confidence.
2. Confidence in oneself that inspires confidence from others Entrepreneurs must not only be self-confident; they also need to evoke confidence in others. In many cases, entrepreneurs need to make others feel confident in an idea or product that may have little to no basis, because it does not yet exist and there is no proof that when it does exist it will succeed. This contagious confidence leads to the next characteristic: passion.
3. Strong passion Due to the fact that entrepreneurs are often selling visions or products that are not yet tested or created, they must remain passionate about what they are doing. No matter the odds or the obstacles, entrepreneurs exhibit steadfast passion. That passion leads us to the next characteristic: a desire to better the world. 4. Desire so strong to change the game, that it changes the world Many entrepreneurs are in the game to disrupt their industries and shake up the status quo. And often, in doing so, entrepreneurs want to better the way things operate in the world and fundamentally change it.
Armed with this insight, we can better serve our entrepreneurial clients. We capitalize on their passion and confidence and exude that same conviction when we share their stories with the media.
What common characteristics do you think make up an entrepreneur?
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