Entrepreneurship is: The "Process by which individuals - either on their own or inside organisations - pursue opportunities without regard to the resources they currently control"(Sevenson, Roberts & Grousbeck, 1989( in Giannantonio, C.M. & Hurley-Hanson, A.E. 2016.)
characteristics of successful entrepreneurs
why entrepreneurs fail despite planning
approaches entrepreneurs may use to identify business opportunities
business feasibility analysis
how it is done
why it is important
industry and competitor analysis
purpose
how such analyses may be conducted
business plan
What should be included
how to present a business plan to potential investors.
forms of organizations available to new firms (in Finland)
sources of funding for entrepreneurial firms
Venture Capital
Crowdfunding
Business Angels
Leasing
Demographic variables
Work and non-work experiences
Family background variables
Having a role model who is an entrepreneur may lead to the child pursuing entrepreneurship (Eccles, 1993; Aldrich & Kim, 2007; Uusitalo, 2001)
Absent father (not present or involvend in their life, who was never home, or was perceived as being missing or weak, or having no father figure in their life (Kaplan, 2007)
Controling, domineerin, and unsupportive mothers (Dvir & Pines, 2007; Kets de Vries, 1996; Pines, 2003; Pines et al., 2002)
Entrepreneurial careers can happen at many different ages (Katz, 1994; Shaver & Scott, 1991; Singh & DeNoble, 2003; Schweikart & Doti, 2009)
Most companies founded by older individuals
Tend to be first-born children or "the child that the parents were counting on, a state of mind that could be called being first born psycholigically" (Kaplan, 2007)
Men more likely to start new firms than women (Reynolds & Miller, 1989)
Enrolling in certain college classes
Hobbies and clubs
Dropping out of high school or college
International travel
Failure has role on later success by providing information and knowledge for the entrepreneur which helps them to improve the performance of their subsequent ventures (Eggers & Song, 2015)
Previous startup experience has positive effect on success of a venture
Education = investments individuals make in themselves - returns from educational attainment in terms of pay, promotions, job satisfaction, and achievement of personal goals are significant (Baruch & Leeming, 2001; Judge et al., 1995; Psacharopoulos, 1985)
Important factors
Quantity
Quality
Bachelor's degree from a top ranked college or master's degree in business are important in order to move into top corporate management (Useem and Karabel, 1986)
Small number of schools have produced a large number of leaders (Pierson, 1969)
Types of entrepreneurs
Novice
Habitual
Forms only one company
Start more than one firm
Serial entrepreneur - starts more than one firm but does not retain the previous firm
Portfolio entrepreneur - starts more than one firm but doesn't leave previous firms
Venture repeater - usually starts the next venture out of necessity or in response to their current situation
Opportunistic serial venturers - want to develop a new firm and are actively looking for opportunities