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?
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Personal situation Resources Entrepreneurial skills Success stories Desire for independence Opportunity to exploit a gap Frustration
Characteristics of an Entrepreneur
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Drive Perseverance Ambition Leader Survivor status Competitive Interpersonal skills Innovative skills Ability to bounce back
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Vision Motivation Self-confidence Self Satisfaction Extrovert Results orientated Committed Risk taker 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
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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
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Self belief Passion and vision Risk taking Persistence Hard work Commitment to people
Skills & Competencies
(Birdthistle)
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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)
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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
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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
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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
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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
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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
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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.startup.ie www.kerrysoft.ie www.kerryceb.ie www.shannondev.ie/ www.enterprise-ireland.com/ • • • • •
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www.spotcheckonline.com/ www.patentsoffice.ie www.entemp.ie www.cro.ie www.sfa.ie
www.entrepreneurs.about.com www.isme.ie
Websites of Interest to Entrepreneurship in Kerry and Ireland
• www.aib.ie www.bankofireland.ie www.ulsterbank.ie www.deloitte.ie www.firsttuesday.ie www.enterprisenetwork.co.uk/ http://www.business2000.ie/index.asp
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www.basis.ie • . www.smallbusinessportal.co.uk www.entrepreneur.com www.niftybusinessideas.com www.planware.org www.sba.com www.bplans.com
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