Posted by: Mark Tayar | June 25, 2009

Most Entrepreneurs are Idiots!

I often get a lot out of networking events and always learn something which will help me in business. But after a networking event in Canberra last night, my only takeaway point is that most entrepreneurs are idiots. Most of the entrepreneurs I met at the event did not seem that bright and many couldn’t answer the kinds of questions I ask in our high school training sessions.

I don’t think I’m being arrogant and I don’t think that I’m a better entrepreneur than most, it’s just pretty clear to me that intelligence and business acumen are not prerequisites for starting a business. I don’t even think having a good idea is the key to getting started. Look at Simon Woodroffe in the UK. Simon started Yo! Sushi back in 1997 by following instructions which came free with his Sushi conveyor belt. Even though Simon never finished high school and was once a bus conductor, his business turned from one store, to a large chain and now a venture capital firm with investments in ‘Yotels!’ ‘Radiyo!’ and ‘Yo! Everything’.

I think that the real key to success is not intelligence or good ideas, it’s good planning and quick action. By all means get good training and work hard improving your ideas, but know that it is only after acting on your ideas will they gain momentum. You may be an idiot but that doesn’t mean you can’t be a successful entrepreneur.

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Responses

  1. Well observed Mark. I probably haven’t been to as many business networking events as you, but even in the hundreds of social events I attend where I come across “entrepreneurs” in Sydney, by all means, I’m definitely not always astounded by how intelligent and talented these people are, if the success of their story is actually true.

    Having said that, sometimes I have come across some fantastically intelligent, bright, commercial-savvy entrepreneurs who exude charisma and passion that we all like to see. The question is, however, were these attributes a prerequisite to becoming such successful business leaders, or is that through serendipitous conditions, these people have learnt to attain these traits.

    p.s. re your previous blog entry, I haven’t read that book – I probably should but having worked in Sales & Marketing for the past 7 years across a number of industries, embellishment is key to the consumer. Call it a lie or whatever you want, but it’s a fundamental part of the job!


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