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