ENTREPRENEUR BACKGROUND AND CHARACTERISTICS:

 EDUCATION:
• Education is important in upbringing of an entrepreneur and
helps in starting the venture and problem solving.
• Education helps in opportunity identification and
exploitation.
 PERSONAL VALUES:
• On the basis of personal values it is difficult to differentiate an
entrepreneur from a manager or even from general public.
• The personal values include opportunistic, quality services to
customers, flexibility, adaptability, honesty and ethical behavior.
 AGE:
➢ Chronological Age (Personal Age)
➢ Entrepreneurial Age (Business Age)
➢ (Age from 22-45 years is considered an ideal age to start the
business)
➢ Male start in early 30’s whereas Female start in mid-30’s
 WORK HISTORY:
The past work experience of individual,
• That may include dissatisfaction, lack of challenge, frustration and
boredom.
• When venture starts growing managerial experience becomes
more important.
• The previous start up experience is also helpful in prediction.
ROLE MODELS AND SUPPORT SYSTEMS

 ROLE MODEL:
• Individual influencing an entrepreneur’s career, choice and style.
• They can be parents, brother or sister, other relatives or
entrepreneurs.
• Act as a “mentor” through advice, information and guidance.
 SUPPORT SYSTEM:
Moral Support Network:
• A cheering squad providing psychological support.
• Supporting wives, honest friends, children, parents and other
relatives who encourage.
 Professional Support Networks:
Individual helping the entrepreneur in business activities.
Mentors:
A coach, advocate and expert in the field and provides “HOW TO”
advise. A person with which the entrepreneur can share his problems
and success.
Business Associates:
Self-employed individuals, clients, consultants, suppliers, lawyers,
accountants etc.
 Trade Association:
Regional and national associations who keep the developments and
provide industry data and may include trade association of respective
field
Personal Affiliation:
These include shared hobbies, supporting activities, clubs and school
alumni group.
These above support system helps in resource identification and
locates opportunities.