Uncovering and understanding your deeper motives is the first step toward becoming a successful entrepreneur or discovering that you are not cut out for its punishing demands -- the personal sacrifices, inevitable setbacks, relentless work, crushing time pressure, financial uncertainty and sleepless nights faced by 99 percent of entrepreneurs. Derek Lidow, a veteran entrepreneur, author of Startup Leadership, and a professor in Entrepreneurship at Princeton University, provides a roadmap for determining your entrepreneur type.

1. What Type of
Entrepreneur
Are You?
By Derek Lidow
• Author, Startup Leadership
• Innovation and entrepreneurship
professor, Princeton University

2. What Type of Entrepreneur Are
You?
A wide spectrum to choose from

3. Over 32 million businesses in the US in 2007
Source: Statistical Abstract of the United StatesCopyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow

4. Source: Inc. Magazine
Copyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow

5. Why Do I Care What Type of
Entrepreneur I Am?
Uncovering and understanding those deeper
motives is the first step toward becoming a successful
entrepreneur or discovering that you are not cut out
for its punishing demands -- the personal sacrifices,
inevitable setbacks, relentless work, crushing time
pressure, financial uncertainty and sleepless nights
faced by 99 percent of entrepreneurs.
You need to know whether your motivations are
strong enough to carry you through an experience that
can certainly be exhilarating, but also exhausting,
calling on your deepest reserves of personal strength.
Copyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow

6. Dimensions of an Entrepreneur
Motivations – why would you risk starting a company?
• It is fun
• I want to learn to do something new
• I want to run my own show
• This product or service has to exist!
• I want to be rich
• Adversity (I NEED to do it to survive)
Methods – how would you discover what will create value?
• Causal
• Effectual
Models – what type of strategy will you use?
• Make
• Take
• Buy
Copyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow

7. Real Life Examples:
Dimensions of an Entrepreneur
Motivations – why would you risk starting a company?
• It is fun
Blogger, Twitter, eBay, Yahoo
• I want to learn to do something new
Nike
• I want to run my own show
Activision, Oracle
• This product or service has to exist!
Cisco, Apple, Teach for America
• I want to be rich
Dell
• Adversity
1-800-autopsy
Which reason is most common?
Copyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow

8. Dimensions of an Entrepreneur
Methods – how would you discover what will create value?
Causal
Search and Select
Forecasts the future
Business Plan centered
Effectual
Transform possibilities into opportunities
Create and transform environments as needed
Given the means, what ends to you see?
Feel your way
Buying a low priced option to ‘turn over another card’
Which method is most common?
Lotus
Compaq
FedEx
Microsoft
Dell
Apple
Cisco
WalMart
U-Haul
Copyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow

9. Dimensions of an Entrepreneur
Models– what type of strategy will you use?
Make
Make something new
Create a new market
Apple, Facebook, FedEx, U-Haul, Tesla, Cisco
Take
Take something away from an incumbent
Do something with a lower cost structure or better
performance
Do a better job of selling, servicing, or distributing
WalMart, Oracle, Chipolte, Southwest, Netflix, Nike
Buy
Buy market share, intellectual property, assets and manage them more
effectively
Innovate how cash flow can be financed within a market
Negotiate favorable terms for existing cash flows (common Private Equity model)
Cisco, McDonald’s, most Private Equity, Trading Firms, Real Estate, IP Houses
How many start-ups actually produce something new?
With any IP protection?
Copyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow

10. Learn More With These Free Resources!
Visit http://dereklidow.com/resources to download
Copyright © 2016 Derek Lidow. All rights reserved. www.DerekLidow.com @DerekLidow
Read the book!