Why some people are more successful as entrepreneurs than others?

9th October 2014

Organization fit research suggests that better performance and job satisfaction depend to a large extent, on the close connection between the characteristic traits of individuals like approach, drive, values, knowledge, skills, competence and personality. We suggest that stronger the link between the entrepreneurs' personal characteristics and the requisite skills of being an entrepreneur (e.g., designing new business by transforming discoveries into marketable items), greater the chances of being successful. It can be argued that the individual difference dimensions like self-efficacy, ability to recognize opportunities, persistence, human and social capital, interpersonal skills have high relevance to the person–entrepreneurship fit and these are what ultimately spell greater success. This framework gives new directions and valuable insights to those who want to evolve into great entrepreneurs by exploring new avenues by setting up new ventures. It is identified that the dimensions of individual differences are always open to modification e.g. through suitable short term training.

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