Navigation: | Home | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |
Entrepreneurialism Information Click here for eBay Motors! Get 2 weeks FREE CA Anti-Virus 2007 Accept Credit Cards Get your FREE $250 Cash Card PhotoStamps

What Makes an Entrepreneur?


Rupert Steiner in his book 'My First Break' attempted to define the secret of becoming an entrepreneur and following interviews with over one hundred entrepreneurs, Steiner concluded that there was not one defined path. He has, however, drawn out observations of an entrepreneur's personality traits. They have a tendency to be rebels, outsiders, original thinkers, risk takers and break new ground. Entrepreneurs are always on the lookout for new business opportunities and have the guts it needs to start up a business. They have total commitment to what they are doing, which verges on obsession behaviour.

Although some of the traits that they exhibit are similar to those of 'ordinary' businessmen, entrepreneurs have a tendency to come up with good ideas, which they execute better than anyone else. The have the flair to identify niche opportunities and are able to secure finances and to build an infrastructure and to keep the organisation afloat until it starts to make a profit.

Sue Birley, Imperial College Management School Professor of Entrepreneurship has tried to identify when the spark of an entrepreneur comes from. She concluded that to get a business established you need someone with persuasion, persistence with no inhibitions about identifying resources to transform the vision into reality.

People do not typically switch on being an entrepreneur. Some comes from nature, some from nurture. It is hard for people to be taught to be entrepreneurial: they either have it in their genes or in their upbringing or not at all. People cannot be taught to relish risk taking. Imagination is not taught in the classroom.

However, academics believe that education can help to provide those with a spark with at least some of the skills they will need to turn that spark into something more substantive. Michael Hay, Director for the Foundation for Entrepreneurial Management at the London Business School says it is possible to give aspiring entrepreneurs some insight and help to build their confidence. He says that you cannot teach people to have a good idea but you can develop inter-personal skills, sales and marketing and general management skills. You can make them better prepared and increase the odds for success. He says that it is crude to say that people are born entrepreneurs but thinks they are shaped by early experiences and role models.

Other theories regarding the psychological traits of an entrepreneur suggest that they are driven by specific psychological traits or even flaws. Some have a passion to be able to prove to themselves and to others that they can achieve although deep down they are suffering from low self-esteem. It has been found that some entrepreneurs are profoundly insecure and they strive to prove to themselves that they are better than they perceive themselves to be. However, they do tend to have an insight into other people's strengths and weaknesses and have a great ability to lead and motivate their staff. They generally have a gut feel for what customers want.

Extensive research has been carried out on the psychology of entrepreneurs by Cary Cooper who is Bupa Professor of Organisational Psychology at Manchester University's Institute of Science and Technology and he states that many entrepreneurs are 'bounce-back' people with a powerful desire to achieve. He says that '?.they do not get distracted by either success or failure; they just plough on, never satisfied and constantly in fear of 'being found out'. Often after one success they think 'I fooled them' and need to do it again to prove it was not just a freak event.'

Cooper also says that entrepreneurs see failure as confirming their inner fears but following failure they do not give up; they just get started again to try and prove that they can get it right a second time. Cooper also observes that being an entrepreneur has negative aspects to it. They tend to be unable to have and miss out on close relationships and the family life that others have. Their focus is only on the business to an obsessional degree, which can be likened to a drug. Only a few entrepreneurs actually set out to build big businesses and to attain wealth and, interestingly, money I is not a prime motivator.

Cooper has classified entrepreneurs into two categories; those who are functional and those who are real. He suggests that functional types are not genuine entrepreneurs. They tend to have one success and subsequently live off that success and need to show to people that they have been successful. They like to be seen with their money as they have little drive to establish another success. This varies significantly from the real entrepreneur. They keep coming up with new ideas to prove to themselves and to their peers that they are capable to doing so. Their main driver is a fear of failure and not for tangible wealth benefits. A real entrepreneur never stops.

It has been demonstrated that many entrepreneurs grow tired of their business after a while and sell them or recruit fresh managers to free them up from day to day involvement. Once the buzz has gone from the original risk, many are on the look for their next entrepreneurial 'fix'.

By definition they are risk takers, modern merchant adventurers avoiding the stifling bureaucracy and politics of big companies.

Cooper notes that many entrepreneurs are actually incapable of running a business. They do not like the tedium of building a company. They employ a strong team of managers to do this

Cooper says entrepreneurs are driven by a need to control the world in a way that they were unable to control in their childhood's. In a survey he discovered many were inspired by a caring parent or a mentor. More than 70% of entrepreneurs could identify some significant shaping event in their childhood. A factor common too many entrepreneurs Cooper has researched are the number who suffered bereavement at an early age.

Richard Branson of the Virgin Group says that he would not have been able to start Virgin if he had not done so whilst he was a teenager, with no mortgage, dependants or ties. He states that half of his success is getting the right people around him and encouraging them to be committed to what he is doing. He states the importance of having a passion for what you are doing.

Krueger and Thueson using the Myers-Briggs Type Personality Indicator would describe an entrepreneur as having an ENTP type of personality - extrovert, intuitive, thinker, and perceiver. An ENTP looks for one exciting challenge after another. They are highly inventive types whose enthusiasm leads to a variety of activities. Their inventiveness is attributable to their rich intuition which gives them a world of endless possibilities, which, when combined with their objective decision making facility and directed outwardly converts everything to ideas and schemes.

During an interview with a Consultant Clinical Psychologist, he described entrepreneurs as extroverts. Serebriakoff describes entrepreneurs as an outward looking, socially friendly and uninhibited type of person. Enjoys company, feels at ease in a large circle and tends to form a large number of relatively shallow relationships. They are confident, assertive and friendly, we can represent this extreme type as a boisterous, talkative and friendly commercial traveler who is very much at home in a bar or at the club.

The constant variable in being an entrepreneur is getting a break.

Any country that ignores its entrepreneurs quickly runs into trouble!

Aurel Voiculescu MBA http://www.aurelvoiculescu.com Corporate strategy research - Media Industry - The honey pot for entrepreneurs. http://www.aurelvoiculescu.com/mba/strategy.htm For a full list of references follow the links in the resource box.


MORE RESOURCES:
Business:Entrepreneurialism Articles from EzineArticles.com
07/15/2019 11:08 AM
4 Daily Habits Of the Most Successful Entrepreneurs
Entrepreneurship needs unswerving discipline, and confidence in yourself and your business. For the few who are determined and ready to put in the hard work, entrepreneurship is the most fulfilling job, identity and lifestyle in the world.
07/08/2019 09:50 AM
The CEO Danger Zone: Too Tired to Think
As CEO of a growing company, you may be doing so much that you can't even take the time to think. You're in the growth stage and are between doing everything yourself, and having a staff trained and coached sufficiently to take care of the day-to-day activities. It's easy to get overworked, with so much demanding your time and attention.
06/17/2019 10:09 AM
Are You Wasting Your Time As a CEO?
The impact of your decisions is great, so addressing issues effectively is going to have positive repercussions. How do you best spend your time as a CEO?
06/07/2019 10:47 AM
How To Recover From Business Burnout
Is it possible to recover from business burnout? The answer is yes! Here are some suggestions that can help.
06/07/2019 10:45 AM
To Be a Strong Leader, Know Your Limits
We spend a lot of time in our culture emphasizing possibility and lack of limits. You can do it! Everything is possible!
06/03/2019 10:21 AM
To Increase Revenue, Focus on Your Impact
Companies that focus on impact have more financial success than profit-focused companies. Aligning your company around impact is a significant growth strategy.
05/27/2019 04:02 PM
6 Tips For Staying Motivated When You Just Don't Feel Like It
No matter how interesting running your own business is, and how enthusiastic you are about all the great opportunities it offers, there will be some days when you struggle with motivation. You just don't want to sit at that desk another minute and answer yet another email or tweet another message.
05/24/2019 12:45 PM
How To Write and Publish Your First eBook
Writing an eBook can catapult your business to the next level. But first, you have to get it done. Let go of perfection and at least get the first draft done. Here's how you can do it.
05/24/2019 12:43 PM
Inspiring Women CEOs: Lindsey McCoy and Alison Webster
Called the "Netflix of shampoos", Plaine Products is a rapidly growing company with the goal of significant environmental impact. As co-founder with her sister Alison Webster, Lindsey McCoy (formerly Delaplaine) is finding ways to address one of the major environmental issues of our time. Drive down any road, walk on any beach, and you'll see the consequences of our disposable lifestyle.
05/16/2019 11:55 AM
The Key To Setting Realistic and Attainable Audience Growth Goals
Growing your audience requires doing something to get more email subscribers, more social media followers, and more people looking at and consuming the content on your website on a regular basis. If you have the right information, you can set realistic and attainable goals that make sense for you.
05/13/2019 01:38 PM
What Do Your Customers Really Think Of You?
When you put your users' experiences about your business first and foremost, it will show up in not only better traffic to your website but also better stickiness from those who do visit or buy from you. If you want people to become loyal to you, put them first and they will.
05/10/2019 10:23 AM
How To Stop Negativity And Start Thinking Creatively
The more you can experience positivity, the better. Read positive books. Watch positive movies. Be around positive people and practice turning all negative thoughts into positives. When you do, you're going to be more creative and more people will want to be around you - which will also increase your creativity by opening more resources for you to use.
05/10/2019 10:22 AM
Learn To Let Go So Your Company Can Grow
In 2016, my client Mariah found herself at a tipping point that many entrepreneurs can relate to. Her business was growing in revenue, scaling quickly after several years of building. Mariah had steered her company for 6 years but was spread so thin that the stress was beginning to show.
05/07/2019 02:12 PM
Quick Guide on How to Get and Stay Motivated
Motivation encourages us to deal with our opportunity and become valuable and useful for the society. When motivated, we don't squander our time. We interact based on facts and values. We only concentrate on the objectives that we need to accomplish prior to the end of the day.
05/07/2019 01:11 PM
Quick Guide on Being Mentally Tough
Everybody has mental toughness to some degree. But the tougher you are, the more likely you are to accomplish greater and better objectives. When you are mentally tough, you'll have the capacity to re frame your negative self-talk so you can keep progressing in the direction of your objective with expanded certainty.
05/06/2019 09:56 AM
7 Ways You Can Make Your Company a Great Place to Work
Losing a great employee is costly. Here are 7 ways you can keep your best staff members.
04/29/2019 10:18 AM
Power Amplifies: Are You Using It To Have Impact?
As a leader, you have power. How you show up every day influences your organization and your impact.
04/24/2019 12:05 PM
Is Ray Higdon's Success REALLY Duplicatable?
If your in Network Marketing, then you HAD to have heard of Legendary Blogger Ray Higdon. He isn't shy. He proudly possess producing benefit from his blog site totaling over $50,000 A MONTH! How? When just a couple of short years ago he was in financial foreclosure.
04/24/2019 11:43 AM
Selecting Your Temporary Medical Staffing Niche
Why is it so important to pick a niche in the medical staffing industry? It is the difference between finding contracts and loosing the opportunity to establish yourself as an expert and resource in this industry. Far too many starting in this industry want to be everything to everybody.
04/23/2019 02:27 PM
Autopilot Money Making Software
What is autopilot money making software? How can someone use it to build an online business from scratch and reach a global audience with digital products?
04/23/2019 10:05 AM
Startup? Build a Business With Staying Power!
Are you thinking about starting a business in 2019, but don't know how or even where to begin? This article outlines the biggest obstacles to overcome, what you need to start your business, and what to do after year one!
04/23/2019 09:49 AM
How Limiting Beliefs Can Hold Your Business Back
It's important to ask yourself whether you have beliefs which are limiting you at the moment. Once you have identified these, you should know how they can hold you and your business back.
04/12/2019 11:26 AM
Fear and Getting Through the Storm
We all have fears. Fears about how the company will do financially this year, about that crucial new hire who looks promising but is unproven, or about how your new offering will fare in a busy market. Fears can abound, especially if nurtured and given attention.
04/08/2019 09:25 AM
What Is a Biblical Entrepreneur?
So, what is a Biblical Entrepreneur?Also in some circles the term Christian Entrepreneur is used. To fully understanding the meaning (and heart) of a Biblical Entrepreneur, you must understand how God views business and entrepreneurship.
03/12/2019 08:35 AM
Your Strategy Is Destined to Fail If You Don't Do This
Effective strategy can make the difference between success and failure of your business. At the very least, a poor strategy will undermine your company's earning and impact potential. The Purpose of Strategy Strategy: Sets priorities and establishes direction so you can respond to a changing environment Focuses the energy of your staff and other stakeholders (e.
03/08/2019 10:53 AM
What Is Standing Between You and The Life Of Your Dreams and Desires?
If you guessed--a problem, Notice I said "create" your dreams and desires versus focusing on a problem. When we focus on a problem or the problem... we find more problems. If we focus on a course of action... we are focusing on solutions. What is the best way to invent the light bulb? Edison didn't look at all his 'failures' he looked at what to do next to invent the light bulb.
03/06/2019 09:16 AM
Your Will or His Purpose
God blesses in several different ways, but His blessing solely depends on His purposes. Sometimes God's answer will match exactly what the person has requested, sometimes His reply is less than desired, and often God's answer dramatically exceeds our expectations.
03/04/2019 10:24 AM
The Scariest Thing I Ever Did Changed My Life Forever
Every day we are faced with big and small risks. The biggest risk I ever took shaped my entire future.
03/04/2019 09:26 AM
High Value Thinking Time Increases Your Income and Impact
As a busy CEO, you likely don't have a lot of time to sit and do nothing but think. But you should - here's why and how you can add more thinking time to your schedule.
02/25/2019 09:12 AM
Reimagine the Purpose of Your Business
Much has been written about your business' why, your purpose, your mission. All of those can be a very narrow viewpoint. You can have a much greater vision.
02/18/2019 09:05 AM
Ready for a High Impact Mindset Reset?
Your mindset, your thoughts, can buoy you and your business up or drag you down. The good news? As you practice these mindset boosters, the easier they become.
02/08/2019 12:20 PM
Highly Engaged Employees Increase Your Company's Impact
Engaged employees are willing to go the extra mile. Find out how you can encourage engagement within your impact-focused company.
01/25/2019 12:04 PM
Three Mistakes Entrepreneurs Make At The Outset
Many entrepreneurs make three crucial mistakes at the outset. They do not pay sufficient attention to customers' preferences; they ignore their competition because their product enamor them, and third, they neglect to follow their business strategy. Indeed, some have no strategy.
01/24/2019 09:52 AM
Try These Tips If You Want To Succeed In Affiliate Marketing
Affiliate marketing can be a great way to establish a good income with little or no overhead at all. Just a whole lot of honest hard work, dedication and of course, good information. This article is designed to provide you with some excellent advice on the business of affiliate marketing and help you find your way in and around it to a nice, consistent profit!
01/21/2019 11:07 AM
How Customers Are Using Their Money to Vote for Impact
Customers increasingly want their purchases to do more good in the world. Your commitment to impact can expand the number of customers you reach.
01/18/2019 04:48 PM
Helping You Better Understand Leadership With These Simple To Follow Tips
Having good leadership skills is important if you are in charge of one person or 500 people. Good communication, people skills and many other things are required of great leaders. If you do not have these skills already, it is time to learn. Use the tips below to become a more effective leader to your team.
01/18/2019 04:47 PM
Discover The Tips That Can Lead You To A Prosperous Affiliate Marketing Strategy
If it's affiliate marketing that you want to learn about then you have come to the right place. When it comes to affiliate marketing it's sometimes the little tips that you know that contributes to your success. Experts and newcomers alike can appreciate any and all tips that come there way, so dive in and digest these useful tips.
01/17/2019 02:33 PM
Reputation Management - How It Can Help Your Business Thrive
When you are trying to maintain a positive business image, you're going to encounter a ton of obstacles. You might know quite a bit about business reputation management, but you can never be too prepared. So continue reading in order to find out some great techniques you can use to help make sure your business continues to thrive.
01/17/2019 02:33 PM
Take Charge Of Your Life With These Top Leadership Tips
The unique assemblage of traits and qualities that comprise a truly great leader can sometimes prove quite mysterious and elusive. To really grasp what effective leadership entails, it is important to acquire a thorough education on its principles and truths. The material below should provide a strong basis for any study of the topic of leadership.
01/07/2019 12:55 PM
A Simple and Powerful Tool for High-Impact Achievement in 2019
Year-end planning helps define your 'what'. To be inspired in your aspirations, here's a tool to help define your 'how'.
12/26/2018 01:27 PM
Here's Why Your Strategy's Not Working As Well As It Could
Conventional strategic planning techniques only go so far. They're missing an important ingredient that materially affects your business' success.
12/18/2018 12:57 PM
Don't Snuggle Up to Your Self-Doubt
You might believe that those high profile people you admire always know what to do. Nothing could be further from the truth.
12/10/2018 10:55 AM
Stop Managing Your Time and Do This Instead
Busy as you are, you may still not feel that you're using your time well. Time management systems don't address this fundamental issue. This article does.
11/19/2018 02:50 PM
You Could Be Sabotaging The Long-Term Success of Your Own Business
You could be close to that next-level growth in your business, but seem to be hitting a brick wall. Don't make the mistake of overlooking the obvious in search of the spectacular. The key to unlocking the future of your business may be just one degree away. This article helps you identify a common behavior that can hinder you from long-term growth.
11/12/2018 12:16 PM
Armor Up: What's Holding You Back As a Leader
I always thought that it was fear that holds us back from being the leaders we want to be: bold, courageous, inspiring. Research has found otherwise.
11/09/2018 02:05 PM
Top 10 Questions You MUST Ask an Event Planner Before Your Next Speaking Gig
Last week we started talking about getting started as a professional speaker, and some tips to give your business a boost. One of the key points is to be polished, professional and at ease, in any situation - the best way to do this is to be prepared - for everything.
11/09/2018 09:54 AM
How to Make Sure Your Goals Are High Impact
Make your goal setting a high ROI activity by using the IMPACTOR Goals model. It will ensure that your goals will get you where you want to go, with high impact.
10/22/2018 09:41 AM
Stop Arguing for Your (and Your Company's) Limitations
Your choices are very powerful. When you make choices that are world-class, you'll get world-class results. Mediocre choices?
10/10/2018 05:51 PM
11 Ways Investing in Impact Helps Your Business
Impact is where you and your business meet the world and make it a better place. Here are 11 reasons why investing in impact helps your business.
09/24/2018 10:08 AM
How to Lead Change in Your Business Like a Boss
Change in your business is essential. Navigating it is challenging and can be bewildering. Here are 10 ways to work change like a boss.


home | site map |