Note on the Secrets of Entrepreneurial Success

by: James D. Price

Publication Date: January 8, 2010
Length: 11 pages
Product ID#: 1-428-969

Core Disciplines: Communications, Entrepreneurship & Innovation, Leadership/Organizational Behavior, Marketing/Sales

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Teaching Note

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Entrepreneurship is an increasingly popular career path – for young adults just starting out, for mid-career professionals, for baby boomers who may have taken early retirement or been downsized from their careers in large organizations, and as well as for parents who may be reentering the workforce. In all of these cases, individuals contemplating an entrepreneurial career path tend to be very curious about what it takes to succeed. The fact is, running your own show is dramatically different from working as someone else’s employee. In this note, we’ll take a look at traits that we find virtually all successful entrepreneurs have in common. We’ll then poke holes in a few common myths about entrepreneurship success prerequisites.

Teaching Objectives

After reading and discussing the material, students should:

  • Understand the traits that make for a successful entrepreneur.
  • Recognize that successful entrepreneurs come from a variety of backgrounds and start pursuing entrepreneurship at many stages in their careers.
  • Describe how successful entrepreneurs are not endowed with successful traits, but rather these traits are acquired through hard work and determination.