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Let me tell you about entrepreneurs. They are different from you and me, to paraphrase F. Scott Fitzgerald. They are the ones in our midst who create something new—a simple yet apt definition coined by the late, great management theorist, Peter Drucker. What I want to know is what makes them different?
Let's look at the 2005 Ernst & Young Atlantic Entrepreneur of the Year (EOY) Awards. Each December we profile the regional program's winners. Our writers describe their ventures in pithy and
entertaining capsules, but, more interestingly, they really tried to find out what makes them tick. You can read about them all starting on page 53.
We noticed some common personality traits, to be sure. First of all, they're whipsmart. Courageous. Ambitious. Energetic to an alarming degree. Committed to their communities. Supportive of their employees. Unfailingly grateful to their families. And utterly in love with what they do.
But here's the kicker, in my opinion: Entrepreneurs can smell an opportunity a mile away and generally will not rest until they've wrestled it to the ground. Perhaps that doggedness is what distinguishes them from the rest of us. A recent Inc. 500 survey backs me up. It found that the most successful entrepreneurs consistently demonstrate a “willingness to sacrifice anything necessary to achieve a goal.” I noted with interest that their psychology in this regard has “more in common with military commandos or athletes than with other business executives.”
Oh, and one more thing. Our gallery of champion business builders agree that mistakes are for learning from, and spectacular failure is not uncommon. The best just dust off and start over.
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Atlantic EOY director and Ernst & Young partner John Carter told me once that he only expected the program to last a couple of years. Twelve years later, it's going strong, but as John and program manager Liz Ness will tell you, getting nominations is a year-round effort. This is because successful entrepreneurs in this region prefer to operate under the radar screen. Why is that?
We also found this year's winners to be almost annoyingly modest, contrary to the myth that a large ego must accompany success. Most prefer not to talk about themselves, instead sharing the credit with their staff or their spouse. At Progress we encounter this phenomenon often. For any of you unsung heroes who are reading this, I encourage you to consider the benefits of peer recognition. Your experiences are a tonic for others.
Speaking of tonic, I have visited Saint John twice recently, in August and again in October, and the place just fires me up. To get a feel for its vibrant personality turn to page 15 and meet Patrick Sohy, a well-networked developer who represents one of New Brunswick's true advantages: a relaxed bilingualism that enables unlimited career opportunities. And starting on page 58, writer Katie Wallace tells the story of CenterBeam Place, an entire uptown city block that has been thoughtfully redeveloped by Irving-owned Commercial Properties Ltd. The landmark complex's namesake is a fast-growing Silicon Valley-based network solution provider. At street-level, the development has also breathed new life into a charming collection of boutiques and restaurants. The city of Saint John and its sister communities see clearly the opportunities that their built heritage, their citizens, and their geography offer. That's progress.
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