Entrepreneur Interview & Personal Analysis Essay - 1

Entrepreneur Interview & Personal Analysis - Essay Example The opportunity is at the center of the process, however, the identification opportunity and its realization depends upon the personality of the entrepreneur and his team. Other important elements of Timmons’s model are technical expertise and experience required to cash on the identified opportunity. The finance and other resources are placed at the last of this model of entrepreneurial process. (Lebherz, 2010, p.16-20) Specific questions were articulated to gain Mr. Hudson reaction on each element of the Timmons’s model. Clutching an opportunity requires a vigilant eye on current issues and openings. First three questions are focused to gain some knowledge of innovative thoughts that help Mr. Hudson to conceive the idea of the Edge Technologies. Because Mr. Hudson is not a descendent of an entrepreneur family, the enterprise realization is a display of his leadership and managerial qualities. The second question is targeted to gain his input on early strategic plannin g he did to minimize risks and enhance the chances of his success being an entrepreneur. Early shocks of business are a sheer test of entrepreneur courage and character. Third question is aimed at learning about the things that went wrong and posed a challenge to the existence and continuation of corporate operations. This might be very helpful in the assessment of an entrepreneurial character and can provide important insights into the strength of strategic plans laid down in early phases of enterprise establishment. The next section of the interview is aimed at understanding some personal attributes and characteristics of Mr. Hudson personality. This includes his concept of a successful entrepreneur and personal independence, which serves as lighthouse to guide rest of the entrepreneurial activities and forms the basis of other principles. Bygrave & Andrew (2010, p. 52) observes, â€Å"It does appear that entrepreneurs have a higher internal locus of control, than non-entrepreneu rs, which means that they have a stronger desire to be in control of their own fate.† The success of an entrepreneur is characterized by his attitude, ambition, confidence, knowledge, skills and experience. A variable mix of these personal attributes defines the future direction of the business and decides the way corporate objectives are pursued. Among all the attribute of an entrepreneur that contributes towards the success, the most significant is the knowledge of personal strengths and weaknesses. It is important for an entrepreneur to know exactly what shortcomings he needs to avoid and where he can zoom into his strengths. Some of the questions were designed to gain a professional and technical insight into the business. Despite of the over whelming influence of the entrepreneur on the enterprise, an efficient team is required to materialize and achieve corporate goals. This team marks the difference how risks and financial challenges to the enterprise are interpreted an d responded. Moreover, Mr. Hudson’s response on policymaking in the enterprise was sought to catch on his corporate philosophy and decision-making process. The concern of an entrepreneur for his society in this age is considered very important towards the fulfillment of corporate responsibility. Towards the end of Mr. Hudson interview, a question was targeted to get his input on social awareness. The last question was