This video posted at the Kauffman Foundation Growthology web site gives an insightful description of the difference between so-called “missionary” entrepreneurs and mercenaries. The short lesson is given by John Doerr of Kleiner Perkins, who dishes out several good nuggets of information during this brief clip:
- “An entrepreneur does more than anyone thinks possible with less than anyone thinks possible in whatever field they’re working in.”
- Doerr says a missionary entrepreneur looks at developing a business more as a marathon, while mercenaries view it as a sprint. He gives a great example of a second-year Stanford business school student who told Fortune Magazine he would view his start-up as a failure if it didn’t make $5 million within three years.
- Another difference between the two types of entrepreneurs, he says, is that mercenaries have an attitude of entitlement while missionary entrepreneurs have an attitude of contribution.