THE 5 My THS ABOUT ENTREPRENERS

UNiV. OF BRISToL, UK]

TER STRACHAN, take eild,
entrepremaurs
A RASTAKING MyTHMost Succesful
risks
Calcolated Starting Compania
in
thesr
entupronaws Start
MyTH"Most bvcou
i r a br2akthuge
m ventfm,
4) TAE-HaN-TEC Covmpanieu
technolegtt.s
n
natuaa.

uAualy thave STRenvNG

PRENEURS ExPERIENCE IN
soreRSFULENTREYEARS oF
:"mosT RatORDS AD
EKPERT MyTH TRACK Hve 4
3THE THeR INuSTRIR ENTREPRE
NBLRS
AnDAAve
SuccesFUL

-MosT
PLAN
BuSINESS
TAkING
ViON MyTH ACDRE
DvaP
STRATEGIC
lwOLL 1DES
THER
THE KOACHED
STT
ACON ENTREPRE
NEVRS UTH
M I L O N S

SuecESFUL DEA
*
m o ComPhes to(T DEVELO P
THeR

CAATAL MyTH TeR To

CPT
EmployGEa
VENVAR
Ard HeE
VavVRE
THE
3 Buy
Supplies
 WH AM I STUDyING ENTREPRENEURSHIP
on PruVious ezperience, we ues that You
BaSecl
h

Stavtng fh exploratím of ente|Ship

a v e Probably

-alvealy Coraidu my Aely h be am ewbebrenaua, buk kunk,u

oui' a Ventuu lanu. bn feel lhe Mad

buune
dekmitdy Want iet up y
oun
-2. Aome poknirt das tr
nd A
an Aome nelevaw Ahill

taku ho be aun enbpreneua and

wnduing y 9 mae wha il
-3 awn
Cnnonmm.
Wam tound ott wa 'SHe
how i elalu o elenamit
Suh as talkay ad elonw . n e l rnawual

oXYjen and lonmpekkve colendrgr

)
ON e w a bonl lhul apeet of
ent
meytd in
,-5T am Maidy tamily dreskinud
pnder, eintthy,
2 e Ada Aea it dav Vavt dannpe
whel. amd
-b

Jaum AAil, ethal e, èminanmenw. Jor Stw

toAoi and the yatnal es
1To be honet, y Adaon euhra len Co
La) omeone hetomendet
6) ith my bne- tabk or(b) iheve's hoekem
TASK a ew minulLsthinkirm
ouY Atasms tY Adypr enh
Spend atomman palttn au ou Shndy
dus wiux othus , s e d
Ke m i l l meti Vahm mugh Chorg
Tkmh u r l
Vo
ke ubject tuter? Aacle i t onu u'
disumion,and teto
-Keep aa Aetod
Keep o tts
Aetovd ot
CombllLa lk Loue
 r : a s belod

al
AN ENTRE PRENEUR 2
To BE
WHAT DDES IT TAKE beemn d a r a
acivities that have
lhe wtde Varict o
erepYereurial b be lRe
what ou Consider
thaee lists Statina
to :
Repore Meedad m OYds Aome
minimvm YenuiYement
enthupYenau?
be a Prosective
B a l t
* act entrapvenauiall?

Succol enbpreun?
p
betonme a

kere dmd A e lhee àu

youn ik, Comjane
Apten Complehig
Dmg dertewney
Ho di ideny equumints ? when nave
your a t amd Yevieuw it agoin,
fetain
met v Yo Coune 04 ndy.
Richand gel
Combletotl
INNOVATION P.74 BLoNDEL & LockET
UMMARY ABoUT CREATIVITY AND Explovin " E h e | - PaacHus

Gmd Per3pecti ves.

CYeativity, InnovatHion and 6pportunity ane hz heart o enbe

oPporbunihes UnnoVakim
and s oaunus
LImclersEamd he matuye of Cveativity
knowlldas amd a a l oportuni Hes
Ar dlume Cuntvei
imvolves The enaktm F
entre pe neuríal Procs, C Yea ivity
Lm The novakm
whi tn Ikrnuah ke proces ot
he buAinen ldeas neunin a c H i h i s
o oppurummhes
ped wls enbapre
O dlevelo
Tha Can be exploi te um em piei. maakelks.
nno vahun Can be
n PrvomA, PYoceB Seailes cy
n evmdo Pck
Soeial Lnnovaiun_involve ehanqs9
dezugmad ho saks ummat neeeli
Sounus o mnovcchm, bos 5in
EepYenes dnas m Vaniows
Ínnovakm, ndmAr
Ome br
ond Ihe Some anovcr
Yeilt d w t perhrak Erenenes.
ovAkiA. emu as a
-EntreþTEnunial Cveabivity Cam be develeped hrougt
Combirabion ndi vi dal
a

tachor Yelakd ho psquhulogy

4DCnKm, and Soial techors, Such as ke
a-

DuY VenhuYe teo.

mambetis
SWene aloww hwman Ahawitur Or
C o A wce
omd do
Thank ) ful

A am mdi udnaA tRoghb, Knaulud

r e e k s wndenh dy

) Cognikve frehn
an mlWachl nrtem nslbirg m cLwRndm

r
am rdeutandin perceun ,

neh l d e s .

mnturaiin
nkn,
Aeannj,memery,
menl av
hah T
means

daspwn maki.
Conpehend m, awnm ot
uuman
ndividd
maari
nd S u l j e s i , Smdrti
Cinonnint

o m b i n a h oi c t P"T

eR. hevene Page

 CoMMON ENTRPRENEORIAL TRAITS
David McCleland Points out n his book
Socie tha Auscel enpreneu
6Achiertng
au chetacens' gel

( an usual CYeabivenes
a propensity t uktakerg an
Strong maed for achiesemunt (N/Ac) *
NAch Mcclleland, a nelatively Stade
Yootd tm ie
Personality brait tat s
exherien c e ot midd le ChRdkmood ad
tuhieh metivates he unditdual ho
ndertake tass n with kee & a

Veasenabe robability o Succe%

and o aid aes Ker anu too ecky
ecaur mot Challergirj too
duRthamltJetaue aiun.
A disHllatioman rsah hdts aveals
oouira enieprananial kaiks.
and eseveare ( Shuech d)
()Total Commitmxnt, dekeamEnaion
( )DHe achieve amdnos
ortentatim
and joal
Uif) &ppavhunahy
v) Taku Kaapensddtmikatue amel personal Yeponai bulk
(V) Peten Proum-olvirg
Realim anol a ene ot Awmr
(V1
(V) Seeki ad ung elrck
(VI) Intonal Lo tua ot CnAast
Social dearnira thuory
AContept att llz Coye ot the 1aso's Tt naa elet
developel ly Retey in whee Sctusl niinrtoment
hat povon has asmmt
twhehi baane Unttnal fo e peuon,
tnai,
br eekonal.
 Lo uus Corhr
Inten nal
AK-\k ela, tham ndii dal has m o e Cnovrt oven
e ruums tatas tian he enrnormndr dne
Cix) calulak wkthing and isk seukir CR deu s F e n )
X) Low e d x Stahs Od powen .

The tasth aprau enaupenunp

we. B develpui a
pt Ata
ente prenmeu, belane oe-t an develsp
t
nsw Lohiph
nepnenuns But Le do ha

veteu.
ennepreneums
Mam Tyat ls we o desathe The apnmu
aty o may annem.
taait
nlnd.0
ane net appkcale in all
achs peuituh, Ch

ProsheY
XJanitantknkeg.
n o e r dptituth ú tKa trai uted beb ara
a l pesBve Ths ,l that atadk u no

ULITves oF Å CcooD ETREPRENE6N

F , n enpnenen hota he onu Auno tan- bean n m s ,
mak unmovaons , and orqani uinen.

QATIEs eF AuoR EnTREPREvSuRs

Accordira ts McCvovy al ood entäaprenu posas

Rotlai alits
 adepr Shulla at daing r JA adot: ehose o
(4) Thy Xive allg Cmd Bave. Tha a mahly
seillea hemeiru y enplry elael pewmel
ha an malila Lonaciens, ale ho make bmprvemeg
CchrcIMes vnha oum,wck o Xaasm m
m y w d r t omk imeiit
s enuproneu he anste uas a entiuma
cmh'nu o eist do simens
Lraer htn u i a i Ventue a u s , i
enund Oct Yields ho a i n e p i n g "bala davings t y
anoa.CSom walkn)-bud hdsa)
R S mamutathues thy a Veritle rd Wue
wi e tew eraun ar keir Commard. y*fa
tKe wi buila i hemeloes. fkay Camnot eprdm
LeDkre wil inprove one thair run.
. M t a L as snAileve o Omd
new demoands maular

Chana as fkei mtomakov Aaiv C 2 r c u s a n s

pext
ACCordina to Joms J Beme lke low am be
raes a yove -nperun '

a) He s an enterpristna tndn dnalemengek, naen

waue aeamiA ak thuin Lommaa.alerk o nw
Ppurtunkia , cel o ad r Rngi loroli ims
ad mllAna l5 awme 9 i s wolrd n a
tharaa.
O)e tn lened in
and n adnantir teckneRogstal
Umpruirg ke 9nal o prrdmt.
(C) He u nat in
ezpandsrg ki sCals ot is
penohons, and he reinveAs eannnp bhis nd.
hege are kes e Caitenia whkth mtr he uita
e uatin
eunum ewcnem perrsman a delop
Thau roene=sur
'Sput o enrprie. IE
otudb i Contetve o t t rakz dusbuk
a

erupnunur wno u naY a l e

adabat ho
Chanag, aniau thas ager and
morote
teuknolnital

n
 NEW BuSINE&S
OPPORTUNITIES
.FCONoMIC FACTORS PRoUCT IEAS
State e4 He Flonomy
Level ot disposable îniome
Consumey spend~y pattems

SocAL FACTORS
Sccial anel. Cultural bvends
Demogroaphic Changes Bust nessand/e Prvduet
"fn2
|.What eopk think s opporuhity Gap New Busine
Ditt e. uwhat's available and Prduct Idaas
nd,
whatspoL Lle
TECHNDLotyAdVANCES
New echoholas
Energ tng fechnaloqas
New use ot o ot Ceknolozras

PoLITICAL A REGUL4TDRY CHANGES

.Chanes Ln poliHcal avena
. New laws and ragulats
 THE
PETER KILBY ENTREPRENEUR WITH HEFFALUMP

Finding m0 cluel to the meanig of e tevn

etvepreNLANY klby ukenad eweprenu wlr
Hetfalum-alarqe
and Ve
mpertamt
whch as unhd by mamy undividals, anbn
aus no
On wcueelod in Calp fanirg Kiin,
A o e þeans who elaim o h a een hm
desunbe dtteuntdy h peudtantas and hus
almt

nonuanent eyils m thaiv daguibhou abw

nimad. Hen a dalaild noe m Te enaprereus
nukns n a doldoping etumamy waoea by kelb
e manngeul funhn
aso Avth as
FoRMAL AUTHORITy
STATUA

Intey personal Roles

Rquvehard
Lndey
Liason

Erformahmcd Role2
Moni wy
DiSsemimh
Spokes penson

eusnm Roles
Erteprnnuy Se
Distubwnu handle
Reson Hlaca

Negotia
ko Ke Constell atum
Managerial
Minb
 ke Mnleg orapris2, Cmseiahg kil
C10 ota)
has Clakkud 13 unthens Lwhich Can be dakagal
tkudoelnats r eAuent eponnan e Undler ourt
h i foilanirg
asolousCoreri ng
Cakgon
Caegmes tohich ne

tunLTiovS OF ENRGPRENEUR
13 w-a- DE-ftytED to SoboRD IMAICS

Pecptien of Markct o portuni)

Cnovel oy imitative or
EXCHANGE
RELATVS HIPS .Gaining Con manding over sCavce Yesemss
3 Playthnf ig unputs
+MAykairgie vdnesnol hosprndary hter
la-peKb e a
he

e a 5. Dealirq wit bueauoaty [Conteons,|

5-1 ard xes)
welcc
PoLITICA Atenses .

mpro
Mangumen uman helekns ihn roduc
ADMINISTR ATiON
Ikeim deer
Marenen b Cuymefand
Yelons ecurve.
Young
-4 circles
MAN ALEmENT 8. FRmonctel Meaagearneak any to
nOw
CoNTRo Prvdwchbm Monagemo(Conol by uiken
'nends Supenvt Hun Ceodreig rp ls EX
i des, ma+àleant|
sider
-13 e to

TECHNNaLoy o. Acquvria and oreseing aserbh a

faih.
I.Tndusin Egneenira (Med aang mfputi
w a ien " pbehn procas

nad bretas ard premekibaj encese

13 Iwtnocbnekon n u pemetvn
techndnes o wehets.
- HE HAS FuRTHER A L S E P THAT IN THE STRICT SENSE oF

ENTREPRENGUR. UILL FiRST Two FuNcTtoNs HSTED ABovE ArD

FOR TIHE OTHER ELEVEN (A) FondioNS,He' BmpLay
EPERTS INTHE RBLATED La NES