Entrepreneurial Success Factors

The success of the entrepreneur relies not only on traits but on cognitive behavior. Tipu and Arain (2011) undertook a case study to develop success factors emerging from entrepreneurial behavior. Entrepreneurs must think and take the right actions to improve their ability to succeed.

Among the behaviors identified in the case study, the most significant success factors developed include startup planning, managing risk, learning, managing human resources, finance, and networking. Entrepreneurs work in an unfavorable setting and improve their ability to succeed by their ability to use these factors. What entrepreneurs think and do does make a difference (Tipu & Arain, 2011).

Entrepreneurs can manage their success through their behaviors. An understanding of these success factors can guide the entrepreneur in launching a new venture.

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Tipu, S. A. A., & Arain, F. M. (2011). Managing success factors in entrepreneurial ventures: a behavioral approach. International Journal of Entrepreneurial Behaviour & Research, 17(5), 534-560. doi: 10.1108/13552551111158844

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