Could I Be an Entrepreneur - Essay Example

REFLECTIVE ANALYSIS OF MY CHARACTER COULD I BE AN ENTREPRENEUR? Name Institution Date Reflective Analysis of my Character Introduction Being an entrepreneur requires one to start, run and grow a business entity. Entrepreneurship therefore is defined as the process of starting a business entity and growing it (Bird, 2002). Many individuals have been at the forefront fighting to become independent by starting their own business enterprises so that they can enjoy the benefits behind ownership. In the recent years, entrepreneurship has also included political and social convections from its original business practices in order to take advantage of the existing market opportunities through organization, planning and resource employment (Bird, 2002). The process of entrepreneurship has constantly received acceptance globally in order to come up with new business ideas through improving services and products or through innovating new ideas (Bird, 2002). Therefore, entrepreneurship skills differ significantly depending on the creativeness and the type of the business entity one can involve to come up with. In this paper, my role is to analyse my enterprising skills so as to reveal as to whether I’m one of the entrepreneurs or not according to Dr. Sally Caird “General Enterprising Tendency” (GET2) Test (Sally2015). Enterprising According to Dr, Sally’s test, my enterprising score of 72% has suggested that it is possible to be an entrepreneur (Sally2015). I posses the necessary strengths and characteristics that are needed to become an entrepreneur in today’s world. At the current time, the score depicts that am developing or thinking to set a growth oriented enterprise tending my skills and characters. This enterprise opportunity will be able to meet my goals in creating employment opportunities to other individuals in my country (Sally2015). As a matter of fact, the test has correctly proven my desires and capabilities of being an entrepreneur. I strongly believe I’m an entrepreneur, and I will always be on the forefront to come up with new innovations in the world. Those characters depicted in the test to become an entrepreneur are achievement, autonomy, creative tendency, locus of control and risk taking (Sally2015). Need for achievement Motivation for achievement has been determined by researchers that it is the main theory behind entrepreneurship success (Sibin, & Grace, 2007). This need is believed to be obtained through learning; hence individuals possessing this character tend to hold a strong desire by having personal responsibility that is aimed at achieving set goals and objectives in order to obtain performance feedback (Sibin, & Grace, 2007). The assumption that is considered in achievement shows that achievement needs are to be expressed in a creational venture to establish a role in entrepreneurs exercise (Sibin, & Grace, 2007). Therefore, entrepreneurs have a high probability rate towards the need for achievement compared to the non-entrepreneurs; while other researchers have found that there is no absolute relationship between need for achievement for an entrepreneur and the whole idea behind business venturing (Sibin, & Grace, 2007). According to my GET2 test, it has proven to me that I do posses high level standards in the need to achieve (Sally2015). My scores are high; hence my qualities vary positively in engaging on enterprising. Some of the qualities that are needed to achieve set objectives in entrepreneurship include effective time management, relying on your own abilities, not to be pessimistic, but rather optimistic, strong task orientation, future oriented, driven, restlessness and energy, determination, persistence and taking responsibility, willingness towards extra hard and oriented towards challenging some concepts (Sally2015). These qualities are important while venturing a business idea. For example the quality behind future orientation will help entrepreneurs to keep themselves with the upcoming trends in the technological phase and also with the cultural views (Foluso, Olayinka, & Olufemi, 2013). This will help them to invent new ideas that will effectively provide a competing value in the future, failure to which the whole business enterprise will not be relevant in the future. In order to achieve my goals and objectives in entrepreneur through taking risks in obtaining the need for an achievement character, I have been advised to be more careful in maintaining my health status and any other important relationships in my life in order to balance the two components with my work life (Foluso, Olayinka, & Olufemi, 2013). Need for autonomy In life some individuals they just need to be their own boss. They fear taking a lot of insults from people in other organizations, telling them what they are expected to be doing each day (Leslie, 2014). Therefore, autonomy reveals the inner support of one’s attitudes and actions whereby they thrive to realize and develop new ideas in regard to the personal traits, goals and objectives (Leslie, 2014). Autonomy will not only be found in ones attitudes and interests, but it will also extend to the creation of self awareness from the decisions one makes, knowing your aims and dreams, and making sure the aims and dreams are achieved (Marco, 1972). This is the spirit behind an entrepreneur; hence the need for autonomy provides a guideline role in ensuring entrepreneurship education is achieved in the long run of entrepreneurship activities (Marco, 1972). Therefore the vision of an entrepreneur is focussed through the character of the need for autonomy whereby autonomy is the ultimate goal in entrepreneurship venture. My autonomous result under Dr. Sally’s test has proved that I still need some advices from other parties in managing my own enterprise when I enjoy all the responsibilities in taking good care (Sally2015). I still need to believe in myself and be able to run my enterprise effectively without asking for help from other experts. Being a boss entails believing in yourself and managing the enterprise according to your own way (Sally2015). Therefore, in order to achieve autonomous abilities, I have to engage myself in decision making even if they will affect my enterprise negatively (Emmeline, 1999). The need for autonomous ensures a boss to be on their own, hence decision should only come from them rather than seeking help from experts. Once you have sought help from others the decision you will engage will not be purely yours hence it lacks autonomy (Emmeline, 1999). Autonomy is the character to hold if you want to be a successful entrepreneur. Creative tendency As an entrepreneur, one should be able to uphold the character of creative tendency to be successful in meeting their set goals and objectives (Hemantkumar, Shailesh, & Porey, 2010). Being an entrepreneur is an important role in the economy where the focus is aimed at coming up with new ideas and inventions (Hemantkumar, Shailesh, & Porey, 2010). Though the characteristics of an entrepreneur have been defined by the researchers to be different, creative tendency is one of them that is highly needed in coming up with one’s enterprise (Hemantkumar, Shailesh, & Porey, 2010). Therefore, as a matter of one to engage in entrepreneurship the art of creativity should not be eliminated since this is the power that leads to a successful career in entrepreneurship (Palaniappan, & Galea, 2009). Creative tendency has also been defined as the enterprising person rate of restless towards their ideas where they can come up with an imaginative way to solve problems and more so these people tend to view life from another point of perspective (Palaniappan, & Galea, 2009). My creative tendency towards enterprising is high in relation to the test it undertook. This shows that my skills and qualities matches the one needed to become an entrepreneur in life (Sally2015). The qualities I possess in creative tendency accordion to Dr. Sally’s test include innovative and imaginative tendency in coming up with new ideas, making good guesses where am unable to proceed and being intuitive, am oriented to change, problem solving and ability to be versatile and finally am interested or curios for new concepts and ideas (Galloway, & Mochrie, 2006). These are the qualities I posses where they are crucial for one engaging in entrepreneurship. Being able to adapt to changes makes it easy for an entrepreneur to practice their ideas even though there are prone to risks (Galloway, & Mochrie, 2006). Risk taking is one of the concepts where an entrepreneur will have to engage in order to acknowledge the challenges (Galloway, & Mochrie, 2006). Becoming an entrepreneur needs someone like myself to venture in after having the required characters of a successful entrepreneurship. Locus of control Locus control and its meaning arise from its role as the way someone will believe in you and have control over their destiny while making a good luck during that period (Ethan, 2012). It is one of the important feature and quality to have while venturing into entrepreneurship. The locus of control in entrepreneurship can either be from internal or external (Ethan, 2012). These two factors can therefore provide a way forward in distinguishing whether your entrepreneurship entities charge come from internal or external (Ethan, 2012). Internal control of locus this means that you are in control of all activities that are happening. In this situation the successfulness of the activities depends on you and when you succeed the credits goes straight to you, on the other hand when the business activities fail it is oneself to blame (Kaufmann, Welsh, & Bushmarin, 1995). In external locus of control, it depicts that you don’t believe in yourself but rather other high powers outside your environment or other people. In this situation, one is helpless hence they tend to blame others than themselves (Kaufmann, Welsh, & Bushmarin, 1995). My test result has proved that I believe in myself at whatever am to do (Sally2015). My scores are high in having an internal locus of control as opposed to the external locus of control. This proves that I qualify to be the best entrepreneur since I posses different qualities that are crucial in meeting locus of control character (Sally2015). These qualities are self confidence, opportunistic, proactive, self belief and determination. Having an internal locus of control depicts that I strongly and confidently believe in whatever am to do in my own life (Bird, 2002). This also means I will not be dependent on other persons rather than my own resources to meet my aims and goals in enterprising. Such qualities like determination and being opportunistic play a key role while venturing into entrepreneurship (Bird, 2002). Taking and seeking advantages in opportunities is the driving force that will ensure your goals and objects are met without missing these special opportunities once came across (Bird, 2002). An entrepreneur should therefore possess internal locus of control as opposed to an external locus of control in entrepreneurship. Risk taking Entrepreneurs are individuals who are ready to take risks to engage in business activities with a goal of making a profit in the close long run of business activities (Tom, 2014). In order to start and support your own business activity you will need to put all your finances including your career at stake (Tom, 2014). For many individuals the prospects of being in charge of making key decisions in the organizations remain a key role as to why they may venture in enterprising hence they are taking risks of either becoming successful or failure (Jayson, 2014). According to research the difference between failure and success in the same as the difference obtained between a calculated risk takers and risk takers (Jayson, 2014). Taking risks should be part of entrepreneurship where one should be able to take a number of risks for them to become successful in the long run. As a way of correction to my attitude to risk taking as depicted by my test result, am more convinced to take risks though tried and tested enterprise ideas (Sally2015). This gives a clue that I fear a lot of taking risks in new concepts and ideas. I should give myself a chance to start my own idea in enterprising that has not been tested before (Paul, 2013). This will reveal my identity behind the role I risk taking. I should not fear taking risks since it is the difference between success and failure of an entrepreneur. Therefore, in order to achieve the character of being a risk taker, I should posses certain qualities such as being decisive, goal oriented, analytical and an effective information management. Becoming a successful entrepreneur, it is all about risk taking (Paul, 2013). Conclusion Becoming a successful entrepreneur is not that simple as people see it. It involves major sacrifice that some persons could not engage in. Taking a small step in entrepreneurship can be that step that will define your complete success in it (Bird, 2002). Therefore, I have seen myself as an entrepreneur and I know it’s true. It is upon me now to defy my odds in autonomy and risk taking to achieve my goals and objectives in entrepreneurship. For anyone else in the world willing to join the entrepreneurship role they should not fear, it only needs individuals who will have an absolute dedication to it (Bird, 2002). The characters they should have include the need for achievement, autonomy, creative tendency, locus of control and risk taking. Once you posses these qualities, the journey to success in entrepreneurship is all yours; yours goals and objectives will be met. References Bird, B. (2002). Learning entrepreneurship competencies: The self-directed learning approach. International Journal of Entrepreneurship Education, 1, p. 203–227. Emmeline, G. (1999). What’s Achievement Got to Do With It? The Role of National Culture in the Relationship between Entrepreneurship and Achievement Motivation, University of Hawaii. Ethan, H. (2012). Leadership: How Your Locus of Control Impacts Business Success. Available at http://www.fastcompany.com/1840496/how-your-locus-control-impacts-business-success Foluso, I. J., Olayinka, Y. S., & Olufemi, A. L. (2013). Achievement Motivation, Gender and Entrepreneurial Ability, 3(1), p. 248–256 Galloway, L. and Mochrie, R., (2006). Entrepreneurial motivation, orientation and realization in rural economies - A study of rural Scotland, International Journal of Entrepreneurship and Innovation, 7(3), p. 173–183. Hemantkumar P. B., Shailesh, G. & Porey, A. (2010). Comparative Study of Enterprising Tendency with the help of Select Cases in India. International Journal of Trade, Economics and Finance, 1(4). Jayson, D. (2014). Risks: 7 Risks Every Entrepreneur Must Take. Available at http://www.entrepreneur.com/article/238319 Kaufmann, P.J., Welsh, D.H., & Bushmarin, N. (1995). Locus of Control and Entrepreneurship in the Russian Republic, Entrepreneurship Theory and Practice, 20(1), p. 43-56. Leslie, F. (2014). The 14 Character Traits of the Entrepreneur. Available at http://www.lesliefieger.com/articles/entrepreneur_character.htm Marco, V. G. (1972). Individualizing Entrepreneurship Education, Putting Each Student Into Context. Available at http://www.enterprisingcompetencies.com/uploads/1/5/9/7/15971972/individualizing_entrepreneurship_education.pdf Palaniappan, A. K. and Galea, S. R. (2009). Creativity and Entrepreneurial Tendencies among Form Two Malaysian Students. Journal of Applied Sciences, 9 (19). p. 3539-3546. Paul, B. B. (2013). Entrepreneurs: Entrepreneurs Are 'Calculated' Risk Takers - The Word That Can Be The Difference Between Failure And Success. Available at http://www.forbes.com/sites/actiontrumpseverything/2013/11/06/entrepreneurs-are-not-risk-takers-they-are-calculated-risk-takers-that-one-additional-word-can-be-the-difference-between-failure-and-success/ Sally, C. (2015). General Enterprising Tendency v2 Test GET2: GET2 Enterprise rating. Available at http://www.get2test.net/test/results.htm Sibin, W. M., & Grace, K. D. (2007). Need for achievement, business goals, and entrepreneurial persistence, Management Research News, 2, p.928 – 941 Tom, A. (2014). Risk in Entrepreneurship. Available at http://www.entrepreneurship.org/resource-center/risk-in-entrepreneurship.aspx Read More