Pathways to Entrepreneurial Career

 What is an entrepreneurial career?

- means finding the pathways toward creating ventures that are right for you.
- It involves stresses and tribulations, the agony and the ecstasy, the perseverance and
journey that you will take as you bring your new ventures into being.
- Venture creation is a lived experience that, as it unfolds, forms you.
Three things in creating a sustainable enterprise
A. opportunity
B. emerging of venture out of your creativity and diligence
C. you as an emerging entrepreneur
All three make up your personal lived experience
Three stages of business
Stage 1: nascent- preparing for business start-up
Stage 2: survival- hanging on
Stage 3: growth- powering ahead
   Nascent Stage-Defining and Building the opportunity
 Risk Propensity-aka “individual's risk-taking tendency”, is defined as an individual's
current tendency to take or avoid risks and considered as an. individual trait which can
change over time as a result of experience (Sitkin and Pablo, 1992; Sitkin and Weingart,
1995).
 Opportunity Propensity
 Entrepreneurial intentions- defined as a position to owning a business or becoming self-
employed
 Higher education
 Industry/market experience
 Social capital- positive product of human interaction. The positive outcome may be
tangible or intangible and may include useful information, innovative ideas, and future
opportunities.
 Balanced skills
 Ability to analyze complex dynamics- to understand the factors that contribute growth
Survival Stage (Establishing the business and market presence)
 Self-efficacy and coping skills
o Self-efficacy- , a strong belief in your ability to succeed
 Promotional capabilities
 Entrepreneurial passion and intensions
  Higher education
 Related start-up experience
 Social capital
Growth Stage (growing a profitable business and expanding market penetration)
 Business planning
 Growth intentions
 Higher education
 Related management experience
How can you build your personal qualities and start your business?
 Finding or creating an opportunity
 Being involved in a family business
 Working with an employer to commence a new venture activity
 Seeking a franchise
 Buying an existing business