Entrepreneurship Is Like High School

I’m amazed at how entrepreneurs behave sometimes.  Even more surprising is the way the local and national media tend to spotlight some of these seemingly deserving entrepreneurs with the various awards that get tossed around each year.  What’s most interesting is the lack of research that goes into giving these awards as most seem to be given to the entrepreneur that has the most time on their hands (and who cares enough) to be “popular”.

What makes a good entrepreneur?  Here’s what I think:

• Work Ethic – stays up late, wakes up early; first to the office, last to leave.  Systems, processes, and anything else one might need to know in order to do virtually any job (so long as it’s not overly technical) can usually be taught.  Work ethic typically cannot be taught.  It’s a way of life.
• Transparency – good entrepreneurs keep their partners and employees abreast of what’s going on in their organizations.  Especially early-stage ventures.  Secrecy hurts more than transparency and often results in diminished trust from employees.
• Leadership – the best leaders lead by example.  It’s hard to take orders from a superior that updates their Facebook status at 10am with a picture of themselves golfing while you’re slaving away in a cubicle!  Especially when you get an instant message later that day asking for updates on your work.  Doesn’t work.  Lead by example and never take credit for someone else’s work!
• Execution – vision is great.  Execution is better.  I speak to countless entrepreneurs each week.  Most would be better labeled as “dreamers”–not entrepreneurs.  Why?  They can never put their dreams or “vision” into motion without the help of real entrepreneurs.  Real entrepreneurs are talented enough to dream it and execute it.

Sadly, “being an entrepreneur” for some is much like high school.  Status and popularity take precedence over good grades (or business success).  Attention-starved entrepreneurs enter themselves into competitions to become one of the coveted winners of the many awards that are given out each year.  Why?  Most will tell you “it’s all about PR”.  I don’t buy it.  For most, it’s all about status, validation of one’s arrival onto the business scene, and joining the brotherhood of other attention-starved folks that don’t have anything better to do than shmooze with their business brethren on the golf course.

I would love to see those offering awards talk with and survey the employees of each entrepreneur’s business.  See what they’re really like in terms of their work ethic, transparency, leadership/example, and personal execution.

Awards mean nothing.  They make for cute decorations in an office…but aside from that, they are a means of giving one a big head, false confidence, and serve as a distraction from what being an entrepreneur is all about (working your tail off and earning your keep).

In summary, if you’re an entrepreneur, don’t waste your time trying to get noticed by the wrong people.  Running a successful business zero media coverage is infinitely more exciting than having a nice write-up in a local magazine while your company is on the verge of bankruptcy.  Aspire for success, not attention.