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– 47 –
Personal:
Vision; hard work; concentration; flexibility; persistence; ability
to reñognise opportunities.
The owner-managers were asked about their personal life and
family background.
Many came from families where the father had some form of
small firm or self-employment background and the mother was a full
time housewife. It was interesting to note that not one was an only
child and more than half came from families with more than two
children.
The previous survey, in 1988, revealed that the group showed
low educational attainments, 45 per cent having left school at the age
of 16 and very few having any post-school qualifications.
The 1989 list reveals somewhat greater academic attainments
but apart from the obvious value of management skills which result
from taking MBA, few of these owner-managers saw any relationship
between educational achievements and their current success.
There is a misconception that successful entrepreneurs fail a number
of times before making the breakthrough. Not true with this sample,
where only 20 per cent had started more than one business. The
average age of the entrepreneurs when they started their first business
was 32, while the youngest was 24. Presumably they had gained valuable
skills and product knowledge between school and start-up. On the
other hand, the majority had started businesses which bore no
commercial relationship to their previous employment.
All rather confusing. Perhaps we should dwell on the wisdom of
Sir James Goldsmith: ‘First you must have the appetite to succeed —
ambition. When you have no ambition you are dead. You have to be
willing to work. You have to be ready to let go of a smart, safe, socially
acceptable job in pursuit of your objective. Fear, greed, dedication and
luck — all play their part. The rest follows».
Brian Jenks is the partner responsible
for private companies at Touche Ross
Personal:
Vision; hard work; concentration; flexibility; persistence; ability
to reñognise opportunities.
The owner-managers were asked about their personal life and
family background.
Many came from families where the father had some form of
small firm or self-employment background and the mother was a full
time housewife. It was interesting to note that not one was an only
child and more than half came from families with more than two
children.
The previous survey, in 1988, revealed that the group showed
low educational attainments, 45 per cent having left school at the age
of 16 and very few having any post-school qualifications.
The 1989 list reveals somewhat greater academic attainments
but apart from the obvious value of management skills which result
from taking MBA, few of these owner-managers saw any relationshi p
between educational achievements and their current success.
There is a misconception that successful entrepreneurs fail a number
of times before making the breakthrough. Not true with this sample,
where only 20 per cent had started more than one business. The
average age of the entrepreneurs when they started their first business
was 32, while the youngest was 24. Presumably they had gained valuable
skills and product knowledge between school and start-up. On the
other hand, the majority had started businesses which bore no
commercial relationshi p to their previous employment.
All rather confusing. Perhaps we should dwell on the wisdom of
Sir James Goldsmith: ‘First you must have the appetite to succeed —
ambition. When you have no ambition you are dead. You have to be
willing to work. You have to be ready to let go of a smart, safe, socially
acceptable job in pursuit of your objective. Fear, greed, dedication and
luck — all play their part. The rest follows».
Brian Jenks is the partner responsible
for private companies at Touche Ross
– 47 –
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