Jerry Kaplan on Entrepreneurship
Jerry Kaplan, serial entrepreneur, executive, technical innovator, and author, elaborates on the five biggest mistakes that entrepreneurs make:
1) Having unclear goals and an unclear mission.
2) Trying to prove that they are smart.
3) Greed – doing it for money.
4) Hiring people that they like rather than people that they need.
5) Not knowing when to let go.
According to Kaplan the best qualities of successful entrepreneurs are:
1) They believe that they can make a difference.
2)They have a passion for making things happen. They don’t just sit around talking, they go out there are make it happen.
3) They have unjustifiable optimism. They believe they can succeed in the face of evidence proving the contrary.
4) Tolerance for uncertainty.
5) Genuine concern for other people
Kaplan talks about the five critical skills that entrepreneurs need:
1) Leadership: ability to build consensus in the face of uncertainty
2) Communication: ability to keep a clear and consistent message
3) Decision-making: knowing when to make a decision
4) Being a good team player: knowing when to trust and when to delegate
5) Ability to telescope: to focus in on the details and then move back to the bigger picture.
Source: Stanford Universities Entrepreneurship Corner