November 6, 2007
Entrepreneurs are a vital part of the economy. Small businesses generated 64% of net new jobs over the past 15 years, and account for more than half of the U.S. Gross Domestic Product.
Although important, a career in entrepreneurism is not for everyone; more than 60% of small businesses fail within two years of opening. To understand what separates successful entrepreneurs from the rest of us, Hogan invited 55 entrepreneurs, chosen on the basis of their success at growing a profitable business, to complete our assessment battery. We then compared this sample of entrepreneurs with a sample of 8,490 U.S. managers from a representative sample of organizations and business sectors.
The Ambiguities of Effectiveness by Dr. Robert Hogan, outlines the results of this study and their implications.