What Skills do Entrepreneurs Needs?
What Skills do Entrepreneurs Needs?
All over the world, people from all walks of life have an entrepreneurial spirit. They have a desire to create something unique and then share it with the world. It can be something to fix a problem that exists, an improvement on a current technology or a completely new idea that no one has eve imagined before. Entrepreneurs have all kinds of ideas and they create all kinds of inventions, products and companies. The truth is probably no two entrepreneurs are exactly alike, although many may possess the same types if skills and training. Many people truly want to become entrepreneurs and they might have some great ideas and assets, but they are still lacking the necessary skills to get it done and become an entrepreneur. So what kinds of skills do entrepreneurs really need in order to become successful?
I spend time with many of the world’s most successful entrepreneurs, and many of these individuals are counted among our clients here at GROCO. One of the world’s most successful venture capitalists and entrepreneurs is Tim Draper, the co-founder of Draper Fisher Jurvetson Venture Fund. Tim has also created the Draper University of Heroes, which is a school designed specifically and especially for budding entrepreneurs. The idea behind Tim’s university is to help those who want to change the world learn how to do it. His school is unlike any other university in the country. Students who attend Draper University learn some of the most important skills that any entrepreneur will need in order to become successful.
What Do You Have to Offer?
Recently Tim spoke about some of those skills. While most people might think that you have to be very technologically savvy to be a successful entrepreneur that is not necessarily the case. However, Tim explained that if you don’t possess those technology skills then you do need to have someone on your team that does. In other words, he said, you have to have a team member that is a builder. There has to be someone that can focus on your product, service or technology and make it happen from a technology standpoint. If you are technologically savvy that skill can help you build a great company. However, it might not be enough to make you a great entrepreneur.
Combining the Best of Both Skill Sets
Tim also says that just because you are a technologist that doesn’t make you a great business person. In other words, most likely you probably can’t do the whole thing by yourself. So Tim encourages entrepreneurs that do have the technology skills to surround themselves with really good business people that can help them with their technology. So in other words, in Tim’s opinion you need to have people who possess both technology skills and business skills in order to succeed. He said very few people have both of these skills, which is why it’s so important for a technologist to find someone that knows business models as well as he or she knows the technology, and vise versa.
We hope you found this article about “What Skills do Entrepreneurs Needs?” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
Insights Into Venture Capital Investing From Seminar 1 of 6 (To register for seminar 2 of 6 FREE, click here.) “In an era where financial landscapes are constantly being reshaped, it’s crucial for investors to stay ahead of the curve. The Venture Vision Webinar, a joint initiative by GROCO and Impact Venture Capital, recently hosted…
Introduction: In this interview, Alan Olsen, CPA and featured guest Micah Fink discuss how Horses and Heroes use horses to aid veteran care and much more. Transcript: Alan Olsen Welcome to American Dreams. My guest today is Micah Fink, CEO and founder of Heroes and Horses. Micah, welcome to today’s show. Micah Fink Alan, thank…
Introduction: Two dad’s discussing life balance in the hectic world of IPOs with featured guest, Travis Combs, Managing Director at the Effectus Group. In this interview, Alan Olsen, CPA, MBA and Travis address family, faith, career, client’s best interest, and trying to strike a balance. Transcript: Alan Olsen Welcome to American Dreams. My guest today is…
Introduction: A candid discussion about investment banking and philanthropy with Mike Bennett, Managing Partner of Crewe Capital. In this interview, Alan Olsen, CPA, MBA and Mr. Bennett open a window into his Crewe Capital‘s early beginnings the connection between investment banking and philanthropy. Transcript: Alan Olsen 0:01 Welcome to American Dreams. My guest today is…