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 • Vision
• Perseverance • Motivation
• Ambition • Self-confidence
• Leader • Self Satisfaction
• Survivor status • Extrovert
• Competitive • Results orientated
• Interpersonal skills • Committed
• Innovative skills • Risk taker
• Ability to bounce back • 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.patentsoffice.ie

• www.kerrysoft.ie • www.entemp.ie

• www.kerryceb.ie • www.cro.ie

• www.shannondev.ie/ • www.sfa.ie

• www.enterprise-ireland.com/ • www.entrepreneurs.about.com

• www.isme.ie
 Websites of Interest to
Entrepreneurship in Kerry and
Ireland
• www.aib.ie

• •www.basis.ie
. • www.bankofireland.ie

• www.smallbusinessportal.co.uk • www.ulsterbank.ie

• www.entrepreneur.com • www.deloitte.ie

• www.niftybusinessideas.com • www.firsttuesday.ie

• www.enterprisenetwork.co.uk/
• www.planware.org

• http://www.business2000.ie/index.asp
• www.sba.com

• www.bplans.com