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Entrepreneurship and Venture Creation

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These goals are the central motivating factors for many entrepreneurs. They exhibit an intense passion for the things that they do. This leads the rest of the world to think that they are fanatics. However, these passions, keep them moving. They keep defining higher goals for themselves. For most of the entrepreneurs, the passion is higher than the desire to make money (Širec & Močnik 2012, p. 11). Entrepreneurs indulge themselves completely into what they do because of their undoubtedly high passion. The undying passion exhibited by entrepreneurs explains why many of them are likely to spend a lot of time developing an idea with no reward.

Since they have the conviction as well as passion, they consider such sacrifices worth the time. Their conviction is that there is a higher goal, which will prove more rewarding. Many of the successful entrepreneurs have a history of having indulged themselves intensely into something before they experienced a breakthrough that led to their success. Without doubt, this kind of passion does not exist with every individual. Only a few people destined to become successful entrepreneurs have a passion that motivates them during the hard times and helps them keep trying until they get it right (Širec & Močnik 2012, p.

13). The second defining characteristic of entrepreneurs is their resilience. Resilience in this case means that failure is part of the entrepreneurship journey. It is almost obvious that every entrepreneur will face a failure. Resilience helps an individual to get up and handle a failure while maintaining enthusiasm. Whereas failure is an unfortunate fact in entrepreneurship, having resilience makes the journey worth trying. Entrepreneurs who have proved successful often faced critical failures.

However, such entrepreneurs were keen to learn from their mistakes, got up from their failure, and forged forward. Whereas normal people will tend to give up after a failure, and face the overwhelming self-pity of failure, entrepreneurs have the capacity to get over such challenges. They know for sure that they are going to fail at one point. However, they do not let that kill their dreams (Gavrilă-Paven & Fijuljanin 2012, p. 180). They are able to identify the wrong choices that led to their failure.

They are willing to identify potential solutions and determine the right track after a failure. Instead of letting failure overwhelm them, they use it to determine how they can register success in the next trial. After a failure, the entrepreneur does not sit down and sympathize with oneself.

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preview essay on Entrepreneurship and Venture Creation
  • Pages: 16 (4000 words)
  • Document Type: Essay
  • Subject: Business
  • Level: Undergraduate
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