Entrepreneur

Entrepreneur is a loanword from the French language that refers to a person who undertakes and operates a new venture, and assumes some accountability for the inherent risks.

Are entrepreneurs born or made?

The answer to this question lies in what John G. Burch, writing in the September-October 1986 edition of Business Horizons calls "the galaxy of personality traits (which) characterise individuals who have a propensity to behave entrepreneurially". He lists nine as being more salient:

Related Topics:
1986 - Personality

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• A desire to achieve: The push to conquer problems, and give birth to a successful venture.
• Hard work: Are mostly workaholics.
• Nurturing quality: Willing to take charge of, and watch over a venture until it can stand alone.
• Acceptance of responsibility: Are morally, legally, and mentally accountable for their ventures.
• Reward orientation: Desire to achieve, work hard and take responsibility, but also want to be rewarded handsomely for their efforts; rewards can be in forms other than money, such as recognition and respect.
• Optimism: Live by the philosophy that this is the best of times, and that anything is possible.
• Orientation to excellence: Often desire to achieve something outstanding that they can be proud of.
• Organization: Are good at bringing together the components (including people) of a venture.
• Profit orientation: Want to make a profit; but the profit serves primarily as a meter to gauge their success and achievement.

Of these nine traits, two stand out as being more likely to be 'inborn':

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• The desire to achieve;
• Capacity for hardwork.

Several research studies have shown that entrepreneurs are convinced that they can command their own destinies, or in the jargon of behaviorial scientists, the "locus of control" of the entrepreneur lies within himself. It is this self-belief which stimulates him to act in a highly individualistic and often rebellious way. It creates an attitude which accepts large amounts of work, encourages persistence, and underpins a reputation for unswerving dedication to a concept, product or business initiative. The capacity to work exceptionally long and hard requires a combination of physical, emotional and intellectual energy which cannot be artificially stimulated. The extraordinary facility of the entrepreneur is to sustain that same commitment and capacity in the long term.

Related Topics:
Research - Behaviorial scientists - Locus of control - Concept - Product - Physical - Emotional - Intellectual

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It therefore appears that unless a person has both inborn and acquired personality traits, he is highly unlikely to succeed as an entrepreneur.

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