Why do people start businesses and what motivates people to “be their own boss”?

CARD1030-Consulting In Career Development: Entrepreneurial and Intrapreneurial Roles

“Entrepreneurs average 3.8 failures before a final success. What sets the successful ones apart is their amazing persistence. There are a lot of people out there with good and marketable ideas, but pure entrepreneurial types almost never accept defeat.”

Lisa M. Amos

Why do you think people start businesses?

Internal Reasons Fulfilling a purpose in life

(create something, a real sense of achievement)

Personality Dimensions (desire of independence, control their own future, create true wealth and financial freedom)

Family Culture (role model/ parents’ expectations)

External Reasons Economic (globalization,

corporate restructuring, re-engineering, free trade and technology development)

Societal (employer/employee relationship)

Political (simplify regulations & government support)

What motivates people to be their own boss?

Able to do what they enjoy Financial gain Able to make their own rules Flexibility Able to challenge themselves Security

How would the career counsellor recognize entrepreneurial traits when counselling a client?

The career counsellor Establishes a trustful

relationship Performs counselling

techniques such as: active and reflective listening, performs assessments through formal instruments (online tests) and then makes recommendations

The client Has an idea or vision Shows a high need for

achievement Recognizes an opportunity

or demand on the market

How would the career counsellor recognize entrepreneurial traits when counselling a client?

The career counsellor and the client should work together to help the client identify:

Values and beliefs Likes and dislikes Limitations and strengths Competences and areas of expertise Levels of risk taking and creativity

What changes in the counselling practices (if any) would you make for people interested in self employment compared to people interested in jobs?

Counselling practices intrapreneurship Discussions and assessments Resume writing/ Cover letter Job search workshops Interview preparation Job search websites, newspapers, magazines Networking Online profiles

What changes in the counselling practices (if any) would you make for people interested in self employment compared to people interested in jobs?

Counselling practices entrepreneurship Discussions and assessments Become a better speaker and leader Dedicated publications, magazines, newspapers, legislation Community centers Networking Associations and organizations for small businesses Government financing programs Government sources of information

Case study

Profile: woman, 40, B.A. (Honors), 5 years in Canada, Ukrainian, former teacher, last job copywriter, currently unemployed

During Job search workshop counsellor identifies entrepreneurial traits such as: spirit of adventure, self-reliant, strong desire to achieve and to grow, goal-oriented, takes the risk and shares the risk, creative

During individual counselling the initial observations are confirmed through discussions and the Business Development Bank of Canada Self Assessment

Recommendations: Canadian Teacher Magazine, Canadian Council for Small Business and Entrepreneurship, government sources of information, school board meetings, community meetings, networking, The Ethical Standards for the Teaching Profession Ontario, Ontario Schools Code of Conduct

After a few sessions, the client took our advice and now she runs a successful business in tutoring

Any questions?

Thank you for your time!Team: Anca Andronic Antoaneta Baha Lacey Thorne Yi (Judy) Xu

Bibliography

Grant, The Proactive Personality Scale as a Predictor of Entrepreneurial Intentions Kao, W.Y. Raymond, Entrepreneurship: A Wealth-Creation and Value-Adding

Process Okanik, Barbara, Self-Directedness, Personality Type and Success in Self

Employment Worsfold, Wes, Entrepreneurial and Intrapreneurial Roles - CARD1030 (course

notes) Entrepreneurial Skills Personal Assessment Kiersey Character/Temperament Sorter Could You Be Your Own Boss? - Entrepreneurial self assessment from

"Mazemaster" Self Employment Quiz - Services Canada