Over the last ten years, Gallup Corporation has studied thousands of successful business owners to determine why they are successful. And through that effort, they developed the Builder Profile — the BP10 — to identify essential talents that must be present and accounted for to grow and scale a fruitful business.
Entrepreneurs have the innate talent to take an idea, turn it into an innovative product or service, build a team around them to take it to market and create new customers. They accomplish all of this from absolutely nothing. So what do these enterprising entrepreneurs have that gives them an advantage? According to Gallup, they are dominant in — or account for — ten entrepreneur talents.
Most entrepreneurs focus on learning business skills which are, of course, important. Gallup, instead, focuses on talent. Their studies show that talent drives behavior, which in turn meets the demands of the business. Without this talent, a business will struggle — and according to historical statistics, likely fail.
Through the BP10 — along with coaching and mentorship — an entrepreneur without dominance in all 10 talents can leverage other means to make sure these talents are included on their team. Everyone has potential entrepreneurial talent. However, Gallup estimates that less than 2.5% of people — only five out of a thousand — have all ten of these talents naturally. This means that most entrepreneurs need help.
If you’re an entrepreneur, the Builder Profile – BP10 – allows you to leverage your natural talent and outsource.
So What are the 10 Talents?
Through extensive research, the following ten talents must be accessible for a business to launch and grow into an entity that can create jobs.
- Confidence: You accurately know yourself and understand others.
- Delegator: You recognize that you cannot do everything and are willing to contemplate a shift in style and control.
- Determination: You persevere through difficult, even seemingly insurmountable, obstacles.
- Disruptor: You exhibit creativity in taking an existing idea or product and turning it into something better.
- Independence: You are prepared to do whatever needs to be done to build a successful venture.
- Knowledge: You constantly search for information that is relevant to growing your business.
- Profitability: You make decisions based on observed or anticipated effect on profit.
- Relationship: You have high social awareness and an ability to build relationships that are beneficial for the firm’s survival and growth.
- Risk: You instinctively know how to manage high-risk situations.
- Selling: You are the best spokesperson for the business.
Developing your entrepreneurial talent using the BP10 can help you grow your business.
Developing Talent
Gallup recommends that most entrepreneurs focus on developing their Top 4 talents, as provided in the BP10 Report. This report can help coaches and mentors guide entrepreneurs into understanding their results, develop their top talents and compensate for talents that are not in their wheelhouse.
Finally, there’s help for the entrepreneur or small business owner who is struggling. They can now know why, develop their strongest talents and get the help they need in crucial areas of their business.
To learn more about the BP10 assessment, visit the Gallup Strengths Center.
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