Could I Be an Entrepreneur - Example

COULD I BE AN ENTREPRENEUR? Name Institution Date Could I be an entrepreneur? Executive summary Coming up with a business organization requires one to have entrepreneurial operations skills and also the need to acquire both human labor and resources as part of a start-up process so that the enterprise can gain its fully success or realization of losses (Howorth, Tempest, & Coupland, 2005). As a matter of fact the whole entrepreneurial process normally happens in the midst of the entrepreneurial ecosystem whereby individual will have to follow all the qualities in order to come up successful in the close of the business activities (Howorth, Tempest, & Coupland, 2005). In this paper I have analyzed my character in regard as to whether am capable of becoming an entrepreneur in my life. Some of the characters I have described them fully are the need for achievement, creativity, autonomy, risk taking and locus of control (Sally, 2015). For them to pass and be depicted in the entrepreneurial life, an entrepreneur will have to possess various qualities such as opportunistic, determination, proactive, self reliance, problem solving skills and idealistic (Howorth, Tempest, & Coupland, 2005). Therefore, become an entrepreneur is easy but requires ones dedication and taking risk, and at the end you will come out successful. Introduction Entrepreneurship has been defined as the utmost career individuals to engage in. According to the definition, an entrepreneur is therefore the process of starting a business entity or organization with an aim of realizing profits at the close of the business processes (Howorth, Tempest, & Coupland, 2005). In order to come up with a business organization, the entrepreneur with have to adopt and use a business model to facilitate entrepreneurial operations. Also, there is a need to acquire both human labor and resources in the start-up process so that the enterprise can gain its fully success or realization of losses (Howorth, Tempest, & Coupland, 2005). As a matter of fact the whole process that entrepreneur practices normally happen in the midst of the entrepreneurial ecosystem (Howorth, Tempest, & Coupland, 2005). Do I posses the required qualities to become an entrepreneur? Therefore, the aim of this paper is to determine as whether am an entrepreneur or not according to Dr. Sally’s test. I will also analyze my characters giving relevant real life examples in reflecting my character. Enterprising skill As shown in Dr. Sally’s test result, I possess an average of 65% of entrepreneurial skills (Sally, 2015). This is a good percentage in becoming an entrepreneur in the future if I wish to be one. The rate of 65% suggests that I do have the positive strength with my characters in becoming an entrepreneur and in this context I’m an enterprising (Sally, 2015). Therefore, I should bring myself in developing and coming up with innovative growth for a business organization and also attribute myself towards the creation of employment opportunities for individuals as an entrepreneur. Also entrepreneurship does not limit an individual to their own free time, but rather they can dedicate time by volunteering (Sally, 2015). Therefore, according to the level of the score in Dr. Sally’s test has shown that I’m an entrepreneur (Sally, 2015). Being an entrepreneur encourages one to hold several occupations in the business enterprise as they manage the business. Regardless of the entrepreneurship definition, there are odd numbers of available characteristics that can help an individual in realizing and meeting the goal in becoming an entrepreneur. In order to feel you deserve to become an entrepreneur, you will therefore have to check the list yourself against the depicted characters if they exist in yourself. Proving this will be a step towards realizing your potential attitudes towards entrepreneurship. Characteristics of an entrepreneur Achievement Need for achievement is one of the characters that an entrepreneur needs to have in order to meet the set goal in their activities. An entrepreneur has been analyzed to be one that is energetic, highly motivated and has the capacity to employ hard work in their activities. The process of achievement ensures an entrepreneur to be dynamic, driven, busy and highly committed to achieving targets they want in their organization (Elliot, Murayama, & Pekrun, 2011). A good example for the need to achieve is setting projects to undertake them in a stipulated time limit. The time limit will act as a goal to achieve and make the project to be complete by that time. Projects should be through once the time limit has come to pass. This will show that you have achieved your goals within a stipulated time limit, hence need for achievement in entrepreneurship is important (Elliot, Murayama, & Pekrun, 2011). The qualities behind the entrepreneur who possess the character for the need of achievement as depicted in Dr. Sally’s test include future oriented, ability to rely on oneself, being optimistic rather than holding the virtue of being pessimistic, oriented toward task and an effective time management (Steyaert, 1997). These are the best qualities to employ on when developing an enterprising firm. Failure to follow the qualities of achievement will lead to obtainment of unsuccessful business process within the business entrepreneurship. Therefore the antecedent followed by lack of comprehensive follow up of the achievement character of an entrepreneur will result in failure to achieve your goals (Steyaert, 1997). In order to become an effective and successful entrepreneur, I should follow the need for achievement goal in embracing entrepreneurial activities. Need for autonomy Autonomy refers to the ability of being independent and doing what is expected of you from yourself and not obtaining any guidance from other successful business operations or entrepreneurs themselves (Rusu, et al. 2012). This character depicts how I will be able to handle all the functions in my enterprising business organization to achieve goals and objectives of its venture into the market. Therefore, as per the test score it has revealed that am independent since the score are very high. This means that I can control my own enterprise without asking for guidance or help from colleagues and friends in matters of running up and managing the enterprise (Rusu, et al. 2012). I have got good qualities in coming up with a successful enterprise in the future when I venture into entrepreneurship. A good example for becoming an independent entrepreneur is that I had set to venture into business and sell insurance policy by myself, whether I will be successful or not that depends on me on how I will handle to achieve it (Judith, Harackiewicz, & Barron, 2000). I will not need any guidance since I would like to undergo through this process all by myself. Therefore, being independent shows how I will be able to handle of my entrepreneurial activities all by myself, hence I will be holding the quality of being autonomous. Being autonomous entrepreneur will also need me to acquire certain values and qualities so as to achieve my goals (Judith, Harackiewicz, & Barron, 2000). The score has revealed that I always like to tackle my own projects without involving other persons. The qualities that I have according to Dr. Sally are leadership skills, availability of opinion base, determined effort, self expression and being independent (Sally, 2015). Therefore, being a nondependent entrepreneur depicts a clue that, you are not willing to take risks and venture into business activities. Creativity Creativity is the goal behind the success of a business venture. As an entrepreneur, you need to come up with new ideas and concepts that will help you achieve your desires (Business Town, 2015). It is through creativity that a business enterprise may meet its success in product and service offering to the market. According to Dr. Sally, my score was a bit lower and she concluded that this is due to my envy towards using tested concepts rather than coming up with my own ideas (Sally, 2015). I carry the fear in using my own ideas and concepts since am not sure whether the ideas I have come up with will achieve success or failure at the close of the business activities. Therefore, as an entrepreneur, I should not only depend on tested and tried concepts I should also take risks to establish my creative ideas in enterprising (Shepherd, & Katz, 2009). A person who has been said to be of creative normally possess different qualities such as being innovative and imaginative by coming up with new concepts and ideas to implement, intuition and having a better ability to make guesses, oriented towards change, curious and being versatile or a good problem solver (Business Town, 2015). A person who does not have creative skills cannot be successful in entrepreneurship at all since they won’t be able to come up with new concepts or ideas to affect their enterprises positively (Shepherd, & Katz, 2009). Therefore, the need to be creative entails all these qualities so that one can become the best entrepreneur; hence these are the qualities I have in me (Shepherd, & Katz, 2009). I’m the best entrepreneur in the making. Calculated risk taking The calculated rate of risk taking reveals the idea behind the individual by being opportunistic and being able to seek expertise information that will help them in venturing into entrepreneurship (Bachman, & Bozzone, 2012). At this level, one is being able to look at the risks they may come across to be able to obtain critical information on how they will go about in solving such situation once they have come across. As an entrepreneur, you are entitled to take risks and should not fear in taking them. One must be able to take risks despite knowing whether they will be successful or they will obtain loses in the close of their business activities (Bachman, & Bozzone, 2012). The only step to use while taking risk is to calculate the risks and be optimistic. According to research a calculated risk taker normally has the defining qualities such as self awareness, decisive, goal oriented, analytical and effective information management skills (Bachman, & Bozzone, 2012). Failure to calculate the risks while venturing into entrepreneurship will result to unsuccessful business process; hence as an entrepreneur, you will not enjoy any benefits arising from the enterprise. Locus of control Locus of control identifies as to where a person believes in internal sources of information or to external sources. According to Dr. Sally my locus of control in entrepreneurship is high (Sally, 2015). I believe in myself and also obtaining information within the enterprise. According to research, to become a good entrepreneur, one has to believe in them that they can achieve certain goals without involving other parties (Stearns, 2014). Developing enterprising skills and confidence skills are the key elements of an entrepreneur engaging internal locus of control. Some of the qualities I have under locus of control include determination, proactive, opportunistic and self confidence (Stearns, 2014). Lack of internal locus of control will show that you seek external help once you are faced up with a problem; hence you will never be self reliant in entrepreneurship. Conclusion Venturing into entrepreneurship is the best career one may use to become self reliant all their life. Becoming an entrepreneur needs one holding various characters such as opportunistic, determination, proactive, self reliance, problem solving skills and idealistic (Howorth, Tempest, & Coupland, 2005). It’s easy to be one, but the difficult state comes in managing all the business activities being involved in entrepreneurship. To be a successful entrepreneur one needs to have various characteristics of an entrepreneur which includes the need for achievement, creativity, autonomy, risk taking and locus of control (Sally, 2015). Following all these characters you will definitely become the best entrepreneur in life like myself; am the best entrepreneur. References Bachman, B & Bozzone, S 2012, Entreprenuership, Innovation, And Management. Antec -Conference Proceedings-. 3, 1751-1754. Business Town 2015, Entrepreneurial: Profile of an Entrepreneur. Available at http://www.businesstown.com/entrepreneur/article1.asp Elliot, A.J., Murayama, K & Pekrun, R 2011, A 3 X 2 achievement goal model. Journal of Educational Psychology, 103, p. 632-648 Howorth, C., Tempest, S. & Coupland, C 2005, "Rethinking entrepreneurship methodology and definitions of the entrepreneur", Journal of Small Business and Enterprise Development, vol. 12, no. 1, pp. 24-40. Judith, M. 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