The Psychology of the Successful Entrepreneur

Abstract

The entrepreneurship development is mainly due to the entrepreneurial motivation. The motivation of entrepreneurs is influenced by the external as well as internal environmental factors. Though there is no research study which reveals the extent to which the entrepreneurs are motivated by these two environments it is found that the entrepreneurial motivation is due to the influence of both the external and internal environmental factors. The psychological behaviours of the entrepreneurs are also equal playing its role while motivating the entrepreneurs, which are also discussed here. This paper also helps entrepreneurs to identify the different business opportunities and growth of the existing business. A real entrepreneur is a person who generally motivated by intrinsic psychological and also economic rewards. He indigenously tries an entrepreneurial venture for his personal satisfaction in work, ego or status. This paper reviews the psychological literature on entrepreneurs. Assessment and generalizations for the entrepreneurs are risky since there is no specific population of entrepreneurs. Psychological characteristics: In the modem days a suitable entrepreneurial culture must be created by developing healthy work environment and modem attitude towards work giving social recognition etc. These factors will provide the psychological stimulus which in turn promotes innovation, inspiration, ethics and values which are essential for successful entrepreneurs. The irrational behaviours of the entrepreneurs are also playing a vital role while motivating the entrepreneurs.

Motivation And Entrepreneurs Training For Tinggi Raja Society Of Asahan Regency

“…If they want to join other communities, it will create a business result that will improve the results of a growing business continuously. The recommendation made as the research [2], [3], [8], [9] and [10]  Need of academic assistance with the motivation to manage waste becomes more productive, especially to be environmentally friendly. Internally developed motivation is expected to manifest itself with the concept of operational mechanization and the training that supports both government and academic support.With the training given to entrepreneurs in Tinggi Raja, three are some graduation made to the favor business and motivation similar to the research [11] and [12].…”

“…The environment that provides the potential of the agricultural sector in Tinggi Raja needs to be developed to better understand the direction and achievement mentioned. By understanding the nature of entrepreneurial self-efficacy and mechanisms through which it affects entrepreneurial outcomes that is similar to the research [8] and [9].…”

“…The synergy of the educational world that gives the idea of discovering a new product, a new technique and a new know how, especially for engineers and technicians who invent new processes. There is the correlation with [8] research that technical parties are directed in favor of creating operational mechanization based on the potential of SMEs and environmental potential.…”

“…Though there is no research study which reveals the extent to which the entrepreneurs are motivated by these two environments it is found that the entrepreneurial motivation is due to the influence of both the external and internal environmental factors [8].…”

Innovation and Creativity in Entrepreneurship

“…Most of the entrepreneurs believe that mentorship is important for start-ups and budding entrepreneurs as they don't have the bandwidth of experience, overview, and vision. For start-up making cardinal mistakes in the beginning of their career and, therefore, have to close down the businesses because of that, it is better avoid such situation as its very easily preventable through mentorship [9].…”