The Individual Entrepreneur

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Presentation transcript:

The Individual Entrepreneur

Entrepreneurial Feelings Locus of control Internal External Feelings about Independence Need for Achievement Risk-taking

Entrepreneur Background & Characteristics Childhood Family Environment Birth order Parents’ occupation Social status Relationship with parents Education Personal Values Age Work History

Motivation What makes an entrepreneur take these risks? Top reason= Independence Men= Money Women= Job satisfaction, achievement, opportunity, money

Role Models & Support Systems Support Network Density Centrality

Role Models & Support Systems Types of Networks Moral-Support Professional-Support Mentor Business associates Suppliers Trade associations Personal affiliations

Men v. Women as Entrepreneurs Start-up Departure points Start-up finances Occupational background Personality Background Support groups Type of business started

Minority Entrepreneurship African–American entrepreneurs “Average” minority owner 15.8% of U.S. businesses have a minority share in ownership 5.8% Hispanic-American 4.4% African-American 4.0% Asian-American 1.0% Native American

Entrepreneurs v. Inventors What’s the difference?