The 10 Ds of entrepreneurship

Successful businessmen have common personality traits. Studying these attributes

will help you decide if you could be one of them.

Do I have what it takes to be an entrepreneur? Will I succeed if a start a business of

my own? Am I strong, or determined enough to risk my hard earned savings?

Most entrepreneurs probably asked themselves questions like these, before they founded
their first company. Of course, no amount of self-examination can tell you whether you
will succeed on a career path, or not, estimating your chances properly could help to
avoid failures.
The problem is, finding the right questions to ask yourself could be as hard as answering
them objectively.
Most people dream of becoming their own boss, but the majority of them will never fulfil
this dream. And the ones who finally set up their own a company does it for significantly
different reasons. A decision like this could be inspired by a great idea as well as a
termination letter.
The personality traits that make somebody successful in entrepreneurship may also differ
from industry to industry. After all, it’s hard to imagine that a person who runs a
successful accounting firm is also a perfect manager for an art gallery.
With that said, successful entrepreneurs have common characteristics, and if you
happen to possess similar personality traits to them, there is a higher chance of success,
when you decide to choose the riskier path.

What are the 10 Ds of entrepreneurship?

There are plenty of articles about the attributes of successful businessmen. One of the
most influential studies on this field is written by William D. Bygrave.
In his book The Portable MBA in Entrepreneurship Bygrave describes the events that
made him and other economy professors define the most important personal attributes
with simple terms.
In the 80s, many magazines published articles based on behavioral studies, with self-
evaluation exercises to help readers decide, whether they should enterprise.
Later, more researchers looked into the problem and found that these tests were useless
since there is no set of behavioural attributes that could separate entrepreneurs from
nonentrepreneurs. They also came up with two personality traits you need to have if you
want to start a successful business.
One of them is the desire to achieve great things, which is not very surprising, given that
a bit of ambition could help you in almost any professions. The other one is more
characteristic of the entrepreneurs. It is a will to control your own fate.

Bygrave described these and other important personality traits from the findings using ten
words beginning with D. These definitions provide a great starting point if you’d like to
create your own “competency test”.
Of course not every successful entrepreneur possess all the Ds, and the rate how
characteristic these words are will defer from person to person. But if the following
descriptions are familiar to you, or you could imagine yourself operating the portrayed
way, there’s a good chance, that entrepreneurship will be suitable for you.
The definitions of Bygrave may also inspire you to find focus and develop new, and more
productive habits if you are already running a business. For further inspiration we have
collected a few blog posts and videos in connection with the expressions. You can find
these, and Bygrave’s 10 Ds of entrepreneurship bellow:

Dream

Entrepreneurs have a vision of what the future could be like for them and their
businesses. And, more important, they have the ability to implement their dreams.
Recomended posts, and videos:
– When a Disney executive turned to Steve Jobs for advice on revitalizing the company’s
stores he answered with two words: “Dream bigger“. In this article on Forbes.com the
author shares his thoughts on how to do that exactly.
– Easy-to-believe myths may ensure that your dream projects will never come to fruition.
You can learn more about those, from the TED talk of a Brazilian entrepreneur Bel
Pesce.
Decisiveness

They don’t procrastinate. They make decisions swiftly. Their swiftness is a key factor in
their success.
Recomended post:
We published a longer post earlier on how to avoid procrastination, become decisive,
and manage your time better with productivity hacks. You can read if here.

Doers

Once they decide on a course of action, they implement it as quickly as possible.

Recomended post:
Being a dreamer and a doer at the same time is not an easy thing to achieve. These tips on
Entreprenour.com could help you balance your attributes.

Determination

They implement their ventures with total commitment. They seldom give up, even when
confronted by obstacles that seem insurmountable.
Recomended post:
Gallup has published a series of article on the talents of successful entrepreneurs. The one
we recommend is also about determination.

Dedication
They are totally dedicated to their businesses, sometimes at considerable cost to their
relationships with friends and families. They work tirelessly. Twelve-hour days, and
seven-day work weeks are not uncommon when an entrepreneur is striving to get a
business off the ground.
Elizabeth Gilbert the author of ‘Eat, Pray, Love,’ was working as a waitress for six years,
while trying to find a publisher. Her TED Talk teaches important lessons about
dedication.

Devotion
Entrepreneurs love what they do. It is that love that sustains them when the going gets
tough. And it is love of their product or service that makes them so effective at selling it.

Details

It is said that the devil resides in the details. That is never more true than in starting and
growing a business. The entrepreneur must be on top of the critical details.

Destiny

They want to be in charge of their own destiny rather than dependent on an employer.

Dollars

Getting rich is not the prime motivator of entrepreneurs. Money is more a measure of
success. They assume that if they are successful they will be rewarded.
Distribute

Entrepreneurs distribute the ownership of their businesses with key employees who are
critical to the success of the business.