Driven by the fear of failure?

Other studies on entrepreneurs have identified persistence as being critical to the behaviour of an entrepreneur. It is believed that this persistence is driven by the fear of failure.

This could lead to the wrong behaviour, perhaps being pushy and goal-dominated and also following leads or opportunities which many would not. This takes us into the realm of the unsuccessful entrepreneur who takes higher risks than they should or perhaps does not research the market as well as they could before proceeding. The wrong timing also plays a large part in this failure.

A high or even a low fear of failure means the entrepreneur is prepared to risk things going wrong and possibly handle the setback without being deterred, where others would not and give up.

High achievement motivation is a great driving force but a low fear of failure may be very useful in terms of when chaos and uncertainty arise.

Perhaps a little more difficult to understand is the small business owner or budding entrepreneur is said to have high ‘locus of control’. This means they believe their own behaviour determines what happens to them. This control is linked heavily to the need for autonomy and personal independence.

Of course, it all links back to persistence, so expect the entrepreneur to work long hours, make endless journeys and also never ending phone calls chasing the business and ensuring customers are satisfied and their needs delivered.

The behaviour of the entrepreneur is fun to watch.