Psychology of Entrepreneurs

Some people are more likely to become successful entrepreneurs because of their mental attitudes. Intensive desire for independence, or its converse, high dissatisfaction with operating under the direction of others. Such an urge frequently derives from an authoritarian father, whom the entrepreneur struggles to dominate and surpass. An ironly they point out is that when an entrepreneur finally achieves establishment of an independent firm, the sought-for autonomy may turn out to be a miraj, because the company is still subjected to whims of customers, employees, governmental agencies, financial backers, and others who can ‘boss around’ the entrepreneurs anyway.

Other drives proposed to explain entrepreneurial behavior unclude an urge for power, the will to conquer, and the joy of creating. Most commonly accepted as dominant, however, is ‘Need for Achievement.’ Symptoms of this need are 1) desire to take personal responsibility for decisions, 2) preference for decisions involving risk that is neither very high nor very low, but rather moderate, 3) interest in concrete results from their decisions, tendency to work harder at tasks requiring mental manipulation, 5) not working harder because of financial incentive, 6) tending to think ahead, and 7) preferring to work with experts rather than personal friends.

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