In October 2010, Adeo Ressi, founder of TheFunded.com created a stir in a presentation in Singapore where he claimed that entrepreneurship is something that cannot be taught. Furthermore, less than 2% of the population has the right skills and genetic make-up to succeed as an entrepreneur.
One of their main findings is that successful start-ups generally follow a six-stage process. Less successful companies skipped steps, or got stuck in a stage, burning through investor money.
The first four steps are based loosely on Steve Blank’s Four Steps to Epiphany: Discovery, in which funding comes mainly from friends and family, Validation, where the value proposition is tested in a market, Efficiency, where the business model is tweaked, and Scale, which sees rapid growth
The last two stages, Profit Maximization and Renewal, were not covered in this report, but the team is working on a fuller description of these “Marmer Stages” to distinguish them fully from Blank’s.
These stages are better called entrepreneurial process rather than genome. Also, entrepreneurship is both teachable and not: part of it, like the skills, tools and steps are teachable but others like determination, insights are less teachable, or more accurately, the differences in those aspects will always be there even after teaching.