Matthew Kenney

Small Business | Workplace Law

  • Blog
  • About
  • Contact
  • Small Business Law
  • Community Service
  • Non-Profit Law

Understanding Entrepreneurs

Posted on: 07.23.19 | by Matthew Kenney

While a Doctor of Business Administration student, I became frustrated during a class. My classmates were defining “entrepreneurs” broadly. I recall one classmate saying “I’ve been working with entrepreneurs for 25 years, they are all paranoid control freaks”. As an entrepreneur, I was a bit offended. But I was also curious. Was my classmate correct?

As any good doctoral student would, I researched the topic of entrepreneur personality deeply. I wrote a paper entitled “Psychographic Segmentation of the Self-Employed”. With the help of Dr. Art Weinstein (my professor and leading scholar in the field of market segmentation), we published the article in the New England Journal of Entrepreneurship.

Our research found entrepreneurs can be classified into groups. Some are altruists, others have parental relationships with their firms, some are exemplars with a talent for commerce, and some are motivated primarily by a need for control. At the very least, companies should not market to small business owners as one market. Rather, as a large market with multiple market segments.

Recently, Dr. Weinstein and I learned our article is among the most downloaded articles in the journal’s history. It’s been downloaded by thousands of people at leading companies and universities globally, and cited by numerous scholars.

My motive in writing the article was to prove education is the best cure for prejudice. Having influenced others to respect the differences between entrepreneurs, whether that influence occurs in a classroom of boardroom, is rewarding for a business educator.

However, as a lawyer there is a different benefit: Better understand entrepreneurs. An attorney who understands a client’s motives is better positioned to help the client succeed. Not every entrepreneur wants a huge business, or to build a global empire. Some just want to make a difference in their communities. Some want a lifestyle business that serves their desires, not a business that consumes their lives. That’s why I start discussions with new entrepreneurs with a simple question “What do you want from this business?” Once that question is answered, it is easier to choose the best legal structure moving forward.

Categories: Uncategorized

Subscribe to the Blog

Recent Posts

  • Create Energy & Exit a Rut
  • The CARES ACT & Your Small Business
  • Coronavirus and Contracts: Must You Perform?
  • Employees, Texting & Driving: What’s Your Policy?
  • Is an English-Speaking Only Workplace Legal?

Categories

  • Communication
  • Innovation
  • Management and Leadership
  • Marketing
  • Uncategorized

Archives

  • April 2020
  • March 2020
  • December 2019
  • November 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • April 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016

Social Media

Linkedin

© Copyright 2019 Matthew G. Kenney
All Rights Reserved

Policies and Legal Statements

Like to See a 38% Increase in Employee Productivity? Let Us Show You How.
Our Gift to You: Five Entrepreneurship Insights. Sign-Up Today to Receive Your Valuable Gift.
______________________
YOUR NAME:
YOUR EMAIL: