ENTREPRENEURSHIP

1. Entrepreneurs
Are they born or bred?
Derek Whitney
South Hampshire Enterprise Agency
21 Feb 07

2. SHEA - who are we?
Entrepreneurs - Types/motivations
Traditional views
Competencies -what are they and what do they tell us
How to use competencies – in helping
entrepreneurs
Intrapreneur
Conclusions
Agenda

3. SHEA MISSION
ENTERPRISE AGENCY
TO PROMOTE, STIMULATE & ENCOURAGE
ENTERPRISE ACTIVITY IN SOUTH HAMPSHIRE
TO ASSIST THE PROCESS OF NEW BUSINESS START-
UP
BY
A FREE & INDEPENDENT COUNSELLING SERVICE
TRAINING
MANAGED WORKSPACE
AIMED AT
PRE-START AND START-UP BUSINESSES

4. South Hampshire Enterprise Agency
Activities
1:1 coaching
Training
Managed workspace
Other
Liss
Fareham
Paulsgrove
Solent
Business Link
SHEA training
Social Business
Intrapreneur
Consulting
Funding Projects

5. We see a number of different types of Entrepreneur
sole traders
60% men/women
lifestyle business /operated locally
service industry/few employees
micro business/below VAT threshold
lone inventors 80% men
social enterprises
HIGH GROWTH START UP -University/technology/global
Referral by job centre
Bill Gates/Richard Branson
WHY? -/+ factors
Lost job/shock/lifestyle change/more control work life balance
immigration
post 50+/difficulty in employment
Greater publicity & awareness/success stories/watching others

6. What help do start-up businesses ask for?
 Finance - raising funds to start
 Legal - company structure - NIC - legal
requirements - relevant legislation - terms of trade
 Sales & Marketing
Market research
advertising
business cards - fliers
web sites
 Book keeping - keeping records -VAT - tax
 “Confirm what I was told in the pub”

7. Traditional
Characteristics of the Entrepreneur
 Characteristics A
 drive
 ambition
 risk tolerance
 desire
 knowledge
 Communication skill
 originality
 Characteristics B
 Self control
 self confidence
 urgency
 awareness
 realism
 conceptual ability
 status
 interpersonal relations
 emotional stability

8. What makes an entrepreneur run a successful
business?
Is it -SKILL? EFFORT? LUCK?
Entrepreneurial success = behaviours
(effort+skill+luck)
PEOPLE CREATE OUTSTANDING PERFORMANCE
through
Going beyond the norm
Teamwork
CREATIVITY - INFLUENCING -PERSISTANCE -RESULTS

9. Management & Entrepreneurial Competencies
 Behaviours are the outward sign of competencies
 Competencies are personal characteristic that contribute
to outstanding performance in a particular job
 They are measurable
it is what separates the best from the rest
 Characteristic can take 6 forms ( see over)
 Competencies make the difference between outstanding
and average performance
 A strong competency is what outstanding performers
exhibit more often & with better results

10. Iceberg Diagram of Competencies
Skills
Knowledge
Social role
Self image
Trait
Motive
Skill - ability to do something well
Knowledge - Info that a person uses
Social role - pattern of behaviour
Self - image – person’s view of themselves
Trait - a typical aspect of a persons
behaviour
Motive - a persons thoughts which drive
behaviours achievement, affiliation, power

11. Entrepreneurs are bred
 In broad terms we come into this world with “ the
same potential” to be entrepreneurs (10%)
 The competencies which are required for a
successful entrepreneur
are developed at an early age 0-7 years
 In 18-65 year olds (the working population)
 if the competency has been demonstrated in the past
lengthy coaching can help
 if the competency is seldom demonstrated or very weak
it is improbable that a dramatic change can be brought
about
 if the competency is inherently strong
coaching will yield a very substantial increase in
performance

12. Entrepreneurial competencies are divided into 4 clusters
0 20 40 60 80 100
influencing
self management
thinking
achievement
interpersonal awarenes rational persuaion concern for impact strategic influencing
analytic conceptual strategic efficiency
standards initiative results orientation critical info seeking
tenacity ability to learn independence self control
self image thoroughness self develoment adaptability
% strength of competency

13. 1 What behaviours equal superior performance
for the entrepreneur
achievement Thinking style
Results orientation
initiative
Efficiency orientation
Critical info seeking
Analytical thinking
Conceptual thinking
Strategic orientation

14. 2 What behaviours equal superior performance
for the entrepreneur
positive self management influencing
Thoroughness
Assertiveness
Tenacity
Interpersonal awareness
Concern for impact
Rational persuasion
Strategic Influencing
Self control/image

15. How to use Entrepreneurial competencies in
business
 In recruitment of staff with entrepreneurial
traits/competencies
 In building new business development teams and
developing the concept of
 INTRAPRENEUR
 “Using entrepreneurial behaviours within a business”
 In personal annual reviews to encourage entrepreneurial
behaviours
 In training and coaching
 In developing better organisations to grow businesses
and be globally competitive

16. INTRAPRENEUR
Time
£ value
Sales
Intrapreneur
intervention
Creativity/Innovation
Key Performance challenges
Organisation/teams
Entrepreneur

17. Conclusion
 Entrepreneurial success can be attributed to identified &
strongly exhibited competencies
 These are developed early in life
 Competencies can be measured and used to test
existing staff and new recruits
 Some selected training can be helpful – not all
individuals can be helped
 Developing the Entrepreneur within the company
INTRAPRENEUR can be a positive step forward to kick
start growth