Entrepreneurship and Innovation: Attributes of a Successful Entrepreneur and John Paul Dejoria's Personal Approach

RUNNING HEAD: ENTREPRENEURSHIP AND INNOVATION. 1
Entrepreneurship and Innovation.
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ENTREPRENEURSHIP AND INNOVATION. 2
Executive summary
Entrepreneurship drives the world. The concept of entrepreneurship started hitting people's ears
around the 1920s. This report explores deeply the attributes a successful entrepreneur should
possess, using John Paul Dejoria, who is one of the most successful American entrepreneurs of
all time, this paper will look at his personality, personal approach to his business and also the
paper will tackle on the process of John Paul Dejoria's business right from identification of the
business opportunity to the point of commercialization. Before concluding the paper, challenges
that John Paul Dejoria faced while pursuing his identified opportunity will be dealt with in depth.

ENTREPRENEURSHIP AND INNOVATION. 3
TABLE OF CONTENTS PAGE
1.0 INTRODUCTION......................................................................................................4
2.0 DISCUSSION.............................................................................................4
2.1 ATTRIBUTES OF A SUCESSFUL ENTREPRENEUR.............................................5
3.0 PERSONALITY OF JOHN PAUL DEJORIA.........................................................7
3.1 JOHN PAUL DEJORIA PERSONAL APPROACH.............................................8
3.2 BUSINESSES, PRODUCTS AND MARKETS OF JOHN PAUL DEJORIA...............8
4.0 ENTREPRENEURSHIP PROCESS..................................................................9
4.1 CHALLENGES FACED BY JOHN PAUL DEJORIA IN STARTING HIS BUSINESS....9
5.0 CONCLUSION.......................................................................................10
6.0 REFERENCES........................................................................................11

ENTREPRENEURSHIP AND INNOVATION. 4
1.0 Introduction
Before looking deep into the major parts of this paper, it is important to first understand what
entrepreneurship means. Entrepreneurship has been defined by many scholars, but the more
sophisticated definition is, the process of transforming the world through the act of solving its
major problems (Martins, 2018). This is achieved by means of bringing a societal change
through creation of an innovative product or giving the world a revived life-changing solution.
John Paul Dejoria is one of the most successful entrepreneurs of all time with an approximated
net worth of 3.1 billion US dollars. He has several businesses comprising of patron spirits co.
Which makes tequila and Paul Mitchell Systems which deals with hair care products. He
achieved his wealth from a startup capital of $700. His personality and personal approach to his
business will be tackled and the challenges he faced while starting his business will be dealt with
in depth.
2.0 Discussion
The major discussion of this paper will be the attributes of a successful entrepreneur, using John
Paul Dejoria, the paper will look deep into his personality, personal approach to his venture and
process of his business venture right from the introduction to the last stage which is
commercialization. Also, the paper will look at the challenges John Paul Dejoria faced while
doing his business and then the conclusion will be the last of this paper.