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Vadim Kotelnikov

By: Vadim Kotelnikov

Inventor and Founder

Ten3 Business e-Coach






Entrepreneurial Success Entrepreneur: the Key Features Creating Customer Value Knowing Your Customer Step-by-Step Guide to Venture Financing Corporate Capabilities Entrepreneurial Success Venture Investing Entrepreneurial Success: Entrepreneurial Capabilities + Customer Needs + Investor Needs



According to John Thompson, entrepreneur is a person who habitually creates and innovates to build something of recognized value around perceived opportunities.

In this definition, all words are key words:

  • 'Entrepreneur' – can be an individual entrepreneur, but also an entrepreneurial team or even entrepreneurial organization

  • 'A person' – emphasizes a personality rather than a system

  • 'Habitually' – just cannot stop being an entrepreneur

  • 'Creates' – starts from scratch and brings into being something that was not there before

  • 'Innovates' – able to overcome obstacles that would stop most people; turns problems and risks into opportunities; delivers - sees ideas through to final application

  • 'Builds something' – describes the output of the creation and innovation process

  • 'Of recognized value' – encompasses economic, commercial, social, or aesthetic value

  • 'Perceived opportunities' – spotting the opportunity to exploit an idea that may or may not be original to the entrepreneur; seeing something other miss or only see in retrospect1


Venturepreneur is an entrepreneur building a high-risk-high-return venture around a new-to-the-world product or service... More

 Case in Point  Steve Jobs

Steve Jobs is one of the most successful entrepreneurs of our generation. His success story is legendary. Put up for adoption at an early age, dropped out of college after 6 months, slept on friends’ floors, returned coke bottles for 5 cent deposits to buy food, then went on to start Apple Computers and Pixar Animation Studios.

Steve Jobs' advice to all entrepreneurs is:

  1. Find your true passion and do what you love to do.

  2. Make a difference.

 Case in Point  Jim Clark

Jim Clark is a serial entrepreneur who became a billionaire in the 'Internet age'. He was involved in starting Netscape, Silicon Graphics and many other start-up ventures.

When asked "What Traits Should Every Good Entrepreneur Possess?", Jim answered, "Discontent and anxiety. Most entrepreneurs are not content with the way things are. But if they're smart, they're extremely anxious too. Most ideas are going to happen whether you do them or someone else does. It's the person who feels most anxious about it and builds the prototype who is likely to win. The best entrepreneurs tend to move quickly and efficiently. They don't waste a lot of time making decisions."


 Case in Point  Ross Perot

Ross Perot has become a billionaire by discovering a customer need and filling it. When Ross Perot was working for IBM, he saw that his customers who were buying IBM computers, needed help in processing their data. He went to IBM with the idea of creating such service but they said they weren't interested.  Ross Perot started his own business and eventually sold it out for $2.8 billion dollars.

 Case in Point  Sam Walton

Source: Sam's Club

Sam Walton, the founder of Wal-Mart, grew up poor in a farm community in rural Missouri during the Great Depression. The poverty he experienced while growing up taught him the value of money and to persevere.

After attending the University of Missouri, he immediately worked for J.C. Penny where he got his first taste of retailing. He served in World War II, after which he became a successful franchiser of Ben Franklin five-and-dime stores. In 1962, he had the idea of opening bigger stores, sticking to rural areas, keeping costs low and discounting heavily. The management disagreed with his vision. Undaunted, Walton pursued his vision, founded Wal-Mart and started a retailing success story. When Walton died in 1992, the family's net worth approached $25 billion. Today, Wal-Mart is the world's #1 retailer, with more than 4,150 stores, including discount stores, combination discount and grocery stores, and membership-only warehouse stores. 

 Case in Point  Jeff Bezos

Amazon.com is a company that is closely tied with the e-commerce phenomenon. Jeff Bezos, the founder of the company, broke the rules of the book business by using the Internet rather than conventional distribution channels. Based in Seattle, USA, the company has grown from a book seller to a virtual Wall Mart of the Web selling products as diverse as music CDs, software, office products, electronics, toys, games, cookware, hardware, food, and health products. The company has also grown at a tremendous rate with revenue rising from about US$150 million in 1997 to US$5.2 billion in 2003.

Entreprneurial Success: VENTUREPRENEUR (Ten3 Mini-course)

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