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Is it hard to become entrepreneur? Free essay! Download now

Home > A Level > Business studies > Is it hard to become entrepreneur?

Is it hard to become entrepreneur?

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Is it hard to become an entrepreneur in the 21st century?
Nowadays, starting a business is not as easy as many people think. Scott Gerber (2011) noted in his book “Never Get a Real Job”, that to be an entrepreneur is not just a job, “it is a lifestyle and a state of mind”. When thinking about entrepreneurship, successful people such as Steve Jobs and Bill Gates come directly to our minds. Sometimes they appear as iconic figures that seem to have the creative nature in their DNA. Moreover, some believe that outstanding entrepreneurs share common characteristics. The toleration of risk, the deep passion and vision of being an entrepreneur, and the future business goals that drives one’s life ahead.
Moreover, previous research has shown that motivation is mainly based on personal needs, values and intentions as well as on the rewards and compensations from these activities (Grigor, 2012).
In the following essay, the main characteristics of the successful entrepreneur will be analyzed to help us better answer the main question of the essay “Is it hard to become an entrepreneur in the 21st century?” Furthermore, different external and internal factors affecting young entrepreneurs’ mind, will be studied as well. Examples of such factors include personal characteristics, personal or business environment, and individual goals set.
First, it can be stated that society sees entrepreneurs as self-confident, risk taking and fearless people, who are ready to invest in their dreams. “Development objectives and a need for personal independence are identified at the beginning stages of entrepreneurial planning” (Estay, Durrieu, & Akhter, 2013). Why and how do people become entrepreneurs? The need for achievement, self-confidence and attitude toward risk, have major roles in the beginning stages of entrepreneurship. Additionally, important characteristics of successful entrepreneurs are persistence and hard work, combined with the ability to be a fair leader. Moreover, a good leader should be able to encourage teamwork and motivate employees, especially if the business is developed in the sphere of customer services. Therefore, it can be assumed, that individuals who possess the characteristics mentioned above, are more likely to become successful entrepreneurs. However, my personal opinion is that very few people possess these qualities and even if they do, very little amount of these people succeed in creating valuable business venture. Thereafter, it can be concluded that it is not easy to become the successful business personality of an entrepreneur.
On the other hand, the environment in which an individual operates is crucial for its personal or business development. In the following paragraphs, two major environmental types will be analyzed in order to show how the environment effects entrepreneurial creation.
The cultural environment is the first factor discussed. Professor Geert Hofstede ...

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