Since our mission in writing this book is to provide practical how‐to guidance for both investors and entrepreneurs seeking venture capital, it seems important early on to give both reader groups a better sense of what entrepreneurs are all about. Entrepreneurs need to understand some of the variables related to the probability of their success. Investors need to understand better what they should be looking for in entrepreneurs in whom they will entrust their support.
DNA of the Entrepreneur
The entrepreneurs we're talking about here are the ones doing the big new things that are the essence of the venture capital world. Our society, which more readily accepts a degree of conformity, has often made these “creators”—like prophets, persons of vision, and cutting‐edge artists—march to their own distant drum. Their unique talent may be seen as a threat to those who are more conformist, less creative, and who do not always live by their wits. They are a real threat to the established (and the establishment), whether in art, business, science, or government. Their discoveries, inventions, and creations may well end the reign of the old if they prove to have greater utility and value.
Entrepreneurs are neither entirely alike nor entirely different. Nevertheless, we'll try to paint a general profile that captures a reasonable composite of the nature of those entrepreneurs who succeed in a big way.
Almost all are driven ...