A research project has just been reported which studiedthe minds of successful managers compared with successful entrepreneurs…
The entrepreneurs brains were more active in the region where risky” and “hot” decisions are made. The Cambridge University researcher team go on to say that people can be trained in the type of risk-taking skills essential for creating successful businesses.
When cold decision-making was needed i.e. emotionally neutral decisions with no need to weigh up rewards and punishments, enterprise- minded and stability-minded people performed equally well. When it came to hot or risky decisions there was a marked difference between the two groups.
In a computer gambling game test, in which participants had to bet on the location of a token hidden in boxes of different colours, entrepreneurs consistently wagered higher stakes. The entrepreneurs were also more impulsive and more flexible mentally than the managers.
The entrepreneurs they studued had each founded at least two high-tech companies. The managers were from major private and public organisations.
The managers showed risk-taking in line with their age group but the entrepreneurs thought and acted like people 30 years younger.
Some resources for becooming successful as a Manager or Entrepreneur….