Entrepreneurial Skills Development

This article discusses the importance of various factors and skills for successful entrepreneurship. It includes case studies of Jeff Bezos, Jack Ma, and Pierre Omidyar.

Entrepreneurial Skills Development

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Introduction to the Entrepreneurs................................................................................................3
Factors that are Important for the Success of Entrepreneur........................................................5
CONCLUSION................................................................................................................................8
REFERENCE..................................................................................................................................9

INTRODUCTION
Entrepreneur is a person who setup a business or business organization who takes all
financial risk on behalf of whole organization. Entrepreneur is considered as person who
organizes, assumes and manage the risk of enterprise or a business organization. This is also
considered as a characteristic of a person to start something new establishment in order ti gain
profit in return of taking risk in market place. This report will be explaining brief information
about three different entrepreneur who are different countries and successfully leading different
business organizations. The entrepreneurs who will be studied in the report are- Jeff Bezos who
is founder of Amazon, Jack MA fonder of Alibaba and Pierre Omidyar who is founder of Ebay.
Various factors also will be studied in the report that can influences the success of the
entrepreneur.
MAIN BODY
Introduction to the Entrepreneurs
Jeff Bezos- Jeff Bezos is also known as Jeffrey Preston Bezos Jorgensen. He was born on 12
January, 1964. Jeff Bezos is one of the most famous personality around the world. Jeff Bezos is
famous as the founder and president of the online retail company Amazon. His is the richest
person in the world since 2017. Jeff Bezos is a business man, Media Proprietor, Investor and
computer engineer. He is active since 1986. He is also known for both Amazon and Blue Origin.
Jeff Bezos was born in Albuquerque and raised in Houston. Later he lived in Miami. He had
completed his education form Princeton University in year 1986 with the degreeof electrical
engineer and computer science. He also spent some time working at wall street from year 1986
to early 1996. In year 1994 he founded Amazon. The company was started as online book store
and later expanded into one of the largest E-commerce company in the world.Company is also
providing online audio and video streaming.
He is self motivated person, this attribute of him has helped him to run its operations
successfully. After divorce of his parents he could have lost but this self motivation encouraged
him to do well
He is having technical skill that has supported him to become the great entrepreneur. His
technically sound capability make him unique from others and he has become able to open a firm

who deals in technology. His company is also providing cloud computing and Artificial
intelligence services to the customers. In year 2000 Jeff Bezos has established an aerospace
manufacturer and sub-orbital spaceflight services company which is known as Blue Origin. His
parents are Jacklyn and Ted Jorgensen. Jeff is currently living in New Mexico, U.S.. Jeff has
completed his education from River Oaks Elementory School, Houston, Texas, United States and
later rest of schooling was completed from Miami Palmetto High School, Florida, United States.
AS per the educational qualification of Jeff Bezos is Bachelor of Science from Princeton
University. His first job was with Fitel, which is a start up company. In that company he worked
for 2 ears and later he worked at bankers Trust and D. E. Shaw and investment management firm
on wall street. After 1994 he founded Amazon which is one of the most famous and largest E
commerce organization.
Jack Ma
Jack Ma is famous Chinese business magnet, politician and investor. He is one of the
most famous person all around. Jack Ma is known as Co-founder and former Executive chairman
of Alibaba Group, which is a multinational corporation. Forbes has ranked Jack Ma on the 21
position among the most powerful people around the world. Jack Ma also serves as role model of
startup businesses around the world. Currently occupied as Business magnet, investor and
politician. Currently working as politician in Communist Party of Chine. As per the current list
ofForbes in 2019 is considered as second wealthiest person in the world. Jack Ma was born Ma
Yun on 10 September 1964 in Hangzhou, Zhejiang, China. He starts learning English in early
age to make English conversation easier with English Speakers at Hangzhou International Hotel.
He was open mined, this personality of him has always helped him to find innovative
ideas. Whenever he felt any issue he used his open mined skill tyo resolve that problem
significantly. MA has attended Hangzhou Teacher’s Institute and graduated in year in year 1988
in Bachelor of Arts. He was very confident person that reflects from the fact that He was also
head of student council in school. His confidence helped him to get success in his business ideas
every time. He got many achievements due to his confidence in personal and professional life.
He has applied for 30 Jobs and he was rejected for al of those jobs.In year 1994 he came to know
about the internet and he started his own company which is Hangzhou Haibo Translation
Agency. In year 1999, Jack Ma has quit and returned to Hangzhou with his team to found

Alibaba. Which is a Chinese Business to Business marketplace site with a group of 18 friends.
He started new round of enterprise development with 500000 Yuan.
He was having great observation skill, he always look upon the situations and
analyses it properly this observation and analyses skill helped him to take right decision.
In October 1999 and January 2000 Alibaba twice won a total of a $25 million foreign
venture capital investment. This is how Jack Ma has gained huge success as most famous
and successful entrepreneur in the world. This is how Jack Ma has gained great success
as entrepreneur on global platform. Jack Ma also known as well known politician in
China.
Pierre Omidyar
Pierre Omidyar is an American entrepreneur, software engineer and well known
Philanthropist. He is known as founder ofeBay where he served as chairman from year 1998 to
2015. At the age of 31 he became billionaire. He also founded Omidyar Network in 2004 in
order to improve their efforts for profits and public policy. Pierre Omidyar is also known as
online journalism as the head of investigating reporter and public news service. Pierre Omidyar
was born in 21 June 1967 in Paris France. He is American citizen. He had completed his
education from Tufts University, University of California, Berkeley. He is known for founding
eBay, founder of Honolulu Civil Beat, Founder of Ulupono initiative, founder of Omidyar
Networks and Founder of First Look Media. He is also board of member ofeBay. He is son of
Iranian parents who were migrated to France for higher education. His father was Cyrus
Omidyar is a surgeon who worked as urologist at Johns Hopkins University in Baltimore and
now practices Aliso Viejo, California. He has attended Punahou School in Honolulu for few
years. At the age of 9 year his interest started to grow in field of computers at The Potomac
School, Potomac, Maryland. He had completed has graduation from St. Andrew’s Episcopal
School, Potomac School in McLean, Maryland. In Year 1984 he graduated from Tufts University
in Medford/Somerville, Massachusetts. By the year 1998 company has boasted 2.1 million
members and generated $ 750 million revenue, and it has attracts the attention of the one of the
most famous E Commerce organization Amazon. In Year 2000 Pierre Omidyar has accepted first
board position outside of the eBay. This is how interest in computer technology and Coding
made him one of the most famous entrepreneur in global market and grown as successful

entrepreneur. He his having great technical skill and also he is very creative person. These skills
of him has helped him to fulfil his interest and turn his interest into successful business. He has
confidence and he always behave positive with others. This thing has made him successful
business person.
Factors that are Important for the Success of Entrepreneur
There are different factors are need to be considered by the organization in order to gain
successful career as entrepreneur in on national and international level. The factors that are
considered as common factors that can influence the success of the business organization in
market place. These common influencing factors that can influence the success of the
organization are- Knowledge, Creativity, Skills, Intelligence, patience, persistence, team working
capability and risk taking capability. These factors can help the entrepreneur in different ways to
become successful entrepreneur on local and international level.
Knowledge of Entrepreneur
Knowledge of an entrepreneur is one of the most important factor in their success and
success of their business. Knowledge can influence the thinking and implementing capability of
individual person in effective manner. Superior knowledge in particular or different fields can
allow them to take better decisions on behalf of organization(Vuorio, Puumalainen and
Fellnhofer, 2018). Jeff Bezos failed many times in his initial career but his knowledge about
technical thing has supported him to do well in this sector. If he could not have that skill the he
would not be able to get success as entrepreneur. This is most important factor for the success of
the organization.From the starting of the business this can help the organization to meet their
business requirements in effective manner. Pierre Omidyar worked many places to raise his
knowledge, this knowledge has helped him to know concequences of wrong decision.
Knowledge can help the entrepreneur to develop better processes and make investment in
various fields that can help the organization to gain success on local and international level. In
success of the organization and an entrepreneur there is huge contribution of entrepreneur in
market place. Knowledge mainly improves the decision making capability of the business man in
business operations and it also allows that to take calculated risk in the market place to gain
higher success in the market place.
Creativity of Entrepreneur

This is important for the entrepreneur to have creativity in nature in order to start a new
business in organization. Creativity can help the organization to implement creativity in the
business idea in order to access the market place ineffective manner.Innovations are most
important for the success of the organization in target market. This creativity can help the
organization to implement innovations in organizations process in order to gain higher success in
market place. Pierre Omidyar was having great innovative ideas that helped him to find out
solution of each issue. Many times he got issue in making rioght investment but his creativity has
helped to do well. Jack did jobs in more than 30 companies, his business owners were very
happy with his creativity. This skill of him encouraged him to start own business and get success.
Creativity can help the entrepreneur to gain higher success in the market place. This is also can
be considered as the process of implement different type of innovative process in the
organization processing. It can improve the actions and decisions of organization in market
place.
Skills of Entrepreneur
This is important for the entrepreneur to have enough intelligence to manage all possible
conditions in organization in order to gain success in market place. These skills could be of both
type soft skills and hard skills. Skills can help the entrepreneur to perform various activities in
organization to keep operations of the organization successful in market place(Sunny and Shu,
2019). Skills of the entrepreneur are important in conditions where organization need proper
guideence based on core technical or professional skills of entrepreneur. Apart from all these the
leadership skill of the entrepreneur is most important for the entrepreneur to become successful
in professional business life.
Intelligence of Entrepreneur
This is also one of the major factor that can affect the decisions and operations of the
organization in market place. Intelligence could be related to anything in organization it can
positively influence the decisions of the person in effective manner. This factor can provide
capability to the organization in different manner to generate higher productivity in market place.
Jeff Bezos was intelligent person, he had great knowledge of technical things. He deal with cloud
computing and many other advance software. He had interest in all such software.

Patience of Entrepreneur
Patience is most required for entrepreneur in business operations. This is most important
for the entrepreneur to show patience while they are taking risk in the business process. Without
patience this is not possible for the entrepreneur to get success in short time it can take much
time and efforts in order to gain success in market place(Jabeen, Faisal and Katsioloudes,
2017).In the beginning of the business this is must require in the person. It can help them to
make their business successful with long term efforts. This is how patience is most important for
the entrepreneur to get success with their creative and innovative business idea in market place.
Jeff Bezos and jack are having patience, they both faced failure in this life but still move ahead.
Persistence of Entrepreneur
This factor of the entrepreneur is considered as the capability of the Pierre Omidyar to
stick to their business idea in order to keep their business idea successful in market place. There
are different actions are performed by the business organization in market place but it is not
always to keep actions successful and profitable for organization. Persistency of jack can help to
stick to the business plan and actions for longer time to generate success for longer time. This
can provide positive results to the organization for longer time.
Team Working Capability of Entrepreneur
Team working is key factor for the entrepreneur. This is required must in the individual
person to gain success. Team working is requires to perform various operations of the
organization in effective manner(Agostino, Nifo, Trivieri and Vecchione, 2019). Team working
also can improve the effectiveness of the entrepreneur and help the run organization in effective
way. This is how team working is major factor for the entrepreneur to become successful in
market place.
Risk Taking Capability of Entrepreneur
This is one of the most important capability of the entrepreneur to take risk in order to
make their business successful(Herrera, Guerrero and Urbano, 2018). To gain higher profit in
market place this important for the entrepreneur to take much larger risk. This high risk taking
capability can help the entrepreneur to gain success in market place.

CONCLUSION
This report is concluding brief information about different successful entrepreneur in
global market. Personality of these entrepreneurs has been analysed in the report to know more
about their personality. Various factors also has been studied in report that can affect the success
of the entrepreneur in market place.

REFERENCE
Books and Journals
Agostino, M., Nifo, A., Trivieri, F. and Vecchione, G., 2019. Rule of law and regulatory quality
as drivers of entrepreneurship. Regional Studies, pp.1-13.
Herrera, F., Guerrero, M. and Urbano, D., 2018. Entrepreneurship and innovation ecosystem’s
drivers: the role of higher education organizations. In Entrepreneurial, innovative and
sustainable ecosystems (pp. 109-128). Springer, Cham.
Jabeen, F., Faisal, M.N. and Katsioloudes, M.I., 2017. Entrepreneurial mindset and the role of
universities as strategic drivers of entrepreneurship. Journal of Small Business and
Enterprise Development.
Sunny, S.A. and Shu, C., 2019. Investments, incentives, and innovation: geographical clustering
dynamics as drivers of sustainable entrepreneurship. Small Business Economics. 52(4).
pp.905-927.
Vuorio, A.M., Puumalainen, K. and Fellnhofer, K., 2018. Drivers of entrepreneurial intentions in
sustainable entrepreneurship. International Journal of Entrepreneurial Behavior &
Research.