September 8, 2008

Role Model & Support System

One of the most important factors influencing entrepreneurs in their career choice is role models. Role models can be parents, relatives, or successful entrepreneurs in the community. Role models can also serve in a supportive capacity as mentors during and after the new venture is launched. This support system is most crucial during the start-up phase.
It is important that an entrepreneur establish connections to support resources early in the venture formation process. As contacts expand they form a network with density (extensiveness of ties between two individuals) and centrality (the total distance of the entrepreneur to all other individuals.)

Moral-Support Network
It is important for the entrepreneur to establish a moral support network of family and friends. Most entrepreneurs indicate that their spouses are their biggest supporters. Friends can provide advice that is more honest than that received from others, plus encouragement, understanding, and assistance. Relatives can also be sources of moral support, particularly if they are also entrepreneurs.

Professional-Support Network
The entrepreneur also needs advice and counsel, which can be obtained from members of a professional support network.

It is good for every entrepreneur that he/she establish both a moral- and a professional-support network to share problems with and gain overall support.

1 comment:

Unknown said...

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