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The Entrepreneur

The Entrepreneur. Definition of Entrepreneur.

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The Entrepreneur

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  1. The Entrepreneur

  2. 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)

  3. 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

  4. Why become an Entrepreneur? • Personal situation • Resources • Entrepreneurial skills • Success stories • Desire for independence • Opportunity to exploit a gap • Frustration

  5. Drive Perseverance Ambition Leader Survivor status Competitive Interpersonal skills Innovative skills Ability to bounce back Vision Motivation Self-confidence Self Satisfaction Extrovert Results orientated Committed Risk taker Sociable Characteristics of an Entrepreneur

  6. 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

  7. 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

  8. Profile of Irish Entrepreneur • Self belief • Passion and vision • Risk taking • Persistence • Hard work • Commitment to people

  9. 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 ….

  10. 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.

  11. 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

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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……………….

  17. 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/ • www.spotcheckonline.com/ • www.patentsoffice.ie • www.entemp.ie • www.cro.ie • www.sfa.ie • www.entrepreneurs.about.com • www.isme.ie

  18. 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 • . • 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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