The Entrepreneur

Definition of Entrepreneur

• “The entrepreneur, by definition, shifts resources from areas of low productivity and yield to areas of higher productivity and yield. Of course, there is a risk the entrepreneur may not succeed”.
(Drucker, ‟85)

Entrepreneurship Vs Management

• Entrepreneurship – Creating something new – New product, new method of production, new markets, new source of raw material – Challenges the „norm‟ • Management – Protects – Stewardship of existing resources

Why become an Entrepreneur?

• • • • • • •

Personal situation Resources Entrepreneurial skills Success stories Desire for independence Opportunity to exploit a gap Frustration

Characteristics of an Entrepreneur

• • • • • • • • •

Drive Perseverance Ambition Leader Survivor status Competitive Interpersonal skills Innovative skills Ability to bounce back

• • • • • • • • •

Vision Motivation Self-confidence Self Satisfaction Extrovert Results orientated Committed Risk taker Sociable

Psychological Characteristics of Entrepreneurs
• • Need for achievement Locus of Control – Internal – External Risk-taking Prosperity Tolerance for ambiguity Type A Behaviour – Impatient, time urgency, driving ambition, competitiveness Need for Independence

• • •

What is the Role of the Entrepreneur?

• Opportunity recognition • Market uncertainties – Dealing with the future • Risk taking – Businesses, financial and personal • Resource gathering • Profits/Reward

Profile of Irish Entrepreneur

• • • • • •

Self belief Passion and vision Risk taking Persistence Hard work Commitment to people

Skills & Competencies
(Birdthistle)

• • • • • • • • • • • • • •

I can.…Communicate I can.... Present I can…. Represent my opinion I can…. Co-ordinate tasks I can…. Develop alternative plans I can…. Hand tasks over to a 3rd party I can…. Co-operate with others I can…. Negotiate I can …. Sell I can…. Organise and plan I can…. Handle numbers I can…. Handle technical devices My literacy is …. My interaction with people is ….

Motives for Irish Start-ups

(Birdthistle)

• • • • • • •

Desire for independence Opportunity to exploit a gap in the market Frustration Solution Orientation Money Safety Orientation Change in their life – Move, redundant, etc.

Reasons for Entrepreneurial Success

• • • • • • •

Hard work and long hours Dedication, drive, enthusiasm and belief in the idea Unsatisfied market demand Managerial competence Luck Strong control systems Sufficient capital

Hurdles in starting up a a business

• • • • • • • •

Lack of the right business idea Complicated regulatory efforts Own financial risk Lack of courage Lack of right founding partner Lack of equity Lack of debt capital Know-how-deficit

Hurdles in starting up a a business

• • • • • • •

Lack of contact clients/customers Economic cycle Business environment Fear of failure Support by family and friends Lack of time Lack of entrepreneurial skills

Some Successful Kerry Entrepreneurs

• • • • • • • • • •

Jerry Kennelly Alan Scroope Edmund Harty Brian McCarthy John O‟Shea Mike Fitzgerald Maurice O‟Donoghue Sean Kelly John Rice Alan Berrington

Some Successful Irish Entrepreneurs

• • • • • • • •

Gillian Bowler Larry Goodman Denis O‟Brien Padraig O‟Ceidigh Michael O‟Leary Moya Doherty Colum O‟Sullivan and Cullen Allen Freda Hayes

• Have you the „fire in your belly‟? – Not indigestion but – a vision; a concept; a belief; in your future? • Have you the guts to take the rough with the smooth? – Sure rough times – but accept it and move on. • If you are entrepreneur – work is fun!! • Have some fun……………….

Websites of Interest to Entrepreneurship in Kerry and Ireland
• www.startingabusinessinireland.com • . • www.spotcheckonline.com/


• • •

www.startup.ie
www.kerrysoft.ie www.kerryceb.ie www.shannondev.ie/


• • •

www.patentsoffice.ie
www.entemp.ie www.cro.ie www.sfa.ie
www.entrepreneurs.about.com
www.isme.ie

www.enterprise-ireland.com/

Websites of Interest to Entrepreneurship in Kerry and Ireland
• www.aib.ie www.bankofireland.ie www.ulsterbank.ie www.deloitte.ie www.firsttuesday.ie www.enterprisenetwork.co.uk/ http://www.business2000.ie/index.asp

www.basis.ie • .

• • • • • •


• • •

www.smallbusinessportal.co.uk
www.entrepreneur.com www.niftybusinessideas.com www.planware.org


www.sba.com
www.bplans.com

Sign up to vote on this title
UsefulNot useful