This report analyzes the factors that drive someone towards entrepreneurship, using Pippa Murray, the founder of Pip & Nut, as a case study. The factors discussed include passion, experience, knowledge, creativity, self-confidence, willingness to take action, great talent, and family and team support.
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PIPPA MURRAY
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Table of Contents INTRODUCTION.......................................................................................................................................2 TASK..........................................................................................................................................................2 Analyze what drives someone towards entrepreneurship........................................................................2 CONCLUSION...........................................................................................................................................7 REFERENCES............................................................................................................................................8
INTRODUCTION Entrepreneurship is the procedure of producing, running, designing and running a new business, which is often initially a small venture. Individual who create these organizations or businesses are called entrepreneurs. It also refers to those who undertake risk of new ventures and accept loss as well as profitable situations. It is a process of activity of an business man who is a person always in find of something unique and new such as ideas into gainful benefits by accepting uncertainty and risk with business. It includes a continuous investigation for new and innovative ideas. The current report is based on Pippa Murray, is founder of Pip & Nut in UK and sells their products with many flavors to consumers, that available in big supermarkets such as ASDA andother.Thisassignmentexplainsdriversthatmotivateordrivesomeonetowards entrepreneurship and inspire them to become entrepreneur. TASK Analyze what drives someone towards entrepreneurship Entrepreneur is a person who starts a side hustle that can effectively create full time, sustainable organizations with workers (Berk, 2019). Entrepreneurs are made, not born, some motivational drivers available that drives or moves them towards entrepreneurship and become a successful entrepreneur. They are specially made and own certain special abilities and also need some experiences and trainings. In this world many individual people from non entrepreneur’s background and families start their own ventures and become a successful business man. Pippa Murray is one of the most successful and popular entrepreneur in the world. In 2015, she started selling her all palm oil free, natural and refined sugar free nut butters at a local artisanal market before branching out to 4 Million consumers across Europe and UK. There are various types of factorsaccessiblethatdrivespersontowardsentrepreneurshipincludingstrongfinancial background, self reliance, experience, passion, personal growth, sense of control and family support. Factors that motivate person to become entrepreneurs-
Passion- An individual cannot be a lifeless soul who does not trust in anything and neither wishes to believe (Gielnik and et.al., 2017).Person needs to understand how to take calculation risks that sometimes includes a lot of necessary things at stake. The valor of taking risks mostly comes from having believed in something and it typically arises when one has passion towards specific thing or activity. So, it can be said that passion among person play vital role as it help them to drive towards become a successful entrepreneur in the globe. Success and growth of an organization is directly comparative to perseverance and hard work of business owner. It is however, this driver of person that pushes them to work hard and much better than the others. Power of passion will take individual business all over the world, it aid in keeping them going during days when work is not happening or when money is not coming. This factor is much better than the other such as motivation from psychological disciples. As it help person to achieve their dreams and allow obtaining positive results by implementing and adopting new strategies. Definitely, it will be said that passion is a key motivating element that drives people towards entrepreneurships. Out of her passion for running, Pippa Murray like to create nut butters. Experience- It is another factor that drives someone towards entrepreneurship, and help to gain further benefits for business growth and long term success (Idris and Tan, 2017). In context of Pippa Murray, she is the founders of Pip & Nut, she gets inspired and motivated to become a entrepreneur by her own experience as marathon runner and considering to cater a healthier option to traditional peanut butters. Most of the person is inspired and motivated primarily by desire to create or develop something new. Pippa Murray while training for a marathon, experience and understand how health is really important for a person. As a runner, she feel that person need to fit and keep healthy in their lives because it make individual able to fulfill dreams as well as allow gain better results after putting efforts for doing something really good for themselves and other. Pip& Nut is the leading nut better brand in United Kingdom stocked over 2,300 outletsnationwide. Personal experiencealways works and inspiressomeone to do something new or different from other. In case of Pippa Murray it happen same, she also inspire
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herself when she was training for marathon and often turn to peanut better as post run snack with all the healthy and fat free ingredients. Knowledge- Along with above factors, it is another element that drives a person towards entrepreneur and entrepreneurship (Qian, 2018). When person have better understanding regarding specific thing, it drive them towards making it in actual world. In context of Pippa Murray, while playing roles as marathon runner she understand importance of healthy diet and gain knowledge that will increase her business potential power and in big part will support to success of her firm. Knowledge is the second layer or driver of successful entrepreneur, with which they can operate its business in effective manner. After gaining knowledge and drawing her own lessons, she reveals essential information about how to set up food business, including finding manufactures, product development and retailers. Creativity- To become a successful entrepreneur, person should be creative because it helps them to be unique and looks different from others (Bhansing, Hitters and Wijngaarden, 2018). Creativity will enhance individual business potential strength that will bring several possibilities for its organization. Pippa Murray is a creative person, she try to make something different and unique. She loves nut butter and that drive her towards become good business women. She always on look out for healthy supplements that would fill her up, giver energy for training and help to led her in top shape. Instead of finding healthy item, with creative nature she began to make her own palm oil free nut butter within creative flavors and selling jars at a local market and ethical awareness. After realizing was onto something delicious, Pippa Murray start marketing her crunchyconcoctionsatmarket,beforeexpandingintoSelfridgeandthennationwider superstores. She is a creative person; she came up with concept for brand in 2013, throughout eating a lot of peanut butter to help marathon training. She considered that most of items on supermarkets shelves were produced as well as packed full of added sugars, palm oil and noticed that there was a gap in traditional spreads type for natural nut butter brand that also required to a younger demographic. She produce peanut butter, in different flavors such as almond, chocolate, peanut
crunchy, blueberry, coconut and peanut smooth. Creativity is the most significant element that drives her towards becomes a entrepreneur. Her purpose of making this item is to aid people love food that loves them and has certain ambitious plans in pipeline to support make this happen, including current new goods development & expansion into new boundaries. It is quite different from sociological factors that drive someone towards entrepreneurship. Self confidence- It is a key success and important motivational factors for a person that helps them to become a successful business man or women (Paul and Shrivatava, 2016). No one will be an entrepreneur when she or he does not have self confidence in themselves, mostly related to manager and start their own business. With self confidence, individual take step towards starting something new and unique from others. It is a key success and motivational component that help someone to achieve their dream and gain better results. Pippa Murray is self confidence women, she believe that success is possible when hard work done in effective manner. She never feels that she was that kind of person who could start a firm or feeling she cannot deserve to succeed despite her skills. With positive attitude and high self confidence level, Pippa Murray gets success and become a good businesswoman. Finally Pip & Nut won Natwest great British start up entrepreneur of year. She conducts a lot of research with full confidence level about producing nut butter, which is very helpful for her business growth. Murray graduated from her kitchen to full level production, she content with three nut butter flavor that will become her launch items. Willingness to take action- It is one of the most important and effective factor for would be and current entrepreneurs have (Utami, 2017). Without taking risk and willingness to take, a person cannot become a successful entrepreneur. Actions are something that will be lead person to the success and growth, without actions, individual cannot take expect to become a great business man or owner. In simple words, an action is something that a individual can do and are doing to make modifications happen in their close environment. For example, starting a business with some innovative and new business idea is considered as entrepreneurial activities or actions. In context
of Pippa Murray, after learning from personal experience, she is willing to take actions such as create oil free and natural peanut butter for local people to keep them fit and healthy forever. Great talent- It is something inborn in a person, but sometimes talent is something that will be easily replaced with skills and knowledge. Pippa Murray is talent women, with this factor she feel motivated and try to do something new after a marathon runner. Starting a new business is extremely difficult and as a sole producer, she had to bear weight of a lot of those tough situations alone. With great talent person will take better decision in context of producing something different. It drives individual towards become a successful business man. Pippa Murray show her talent by producing oil free nut better for those people who seeks to live healthy life and wish same for their family members. She learn more while working with such as talented people around her who help her how to manage business and how to make each activity better than before. She released a cook book and expanded to squeeze packs and to nut milks and their almond, peanut nut butters which now stocked in over 4000 outlets including TESCO, ASDA and other supermarket across UK. The idea comes in her mind about starting business through her love of running. She actually loves peanut butter a lot and eating as well as a post run treat. Family and team support- It is one of the most significant factors that motivate person to become an entrepreneur. Without support and inspiration no one would be able to take one step ahead towards success, because it is not possible. Every person needs support from family or friends, as it help to make individual stronger rather than the other people. This factor is very different from other elements which define how individual choose to utilize resources. In context of Pippa Murray, she gets full support from her family and always being motivated by her friends. Her husband was always being there to help and inspire for doing something new. She start writing cooking book packed with 70 recipes that all considered nut butter, from early morning breakfast and sweet treats to savory and snacks dishes. Furthermore, Pippa Murray team was really very supportive and inspires her to do her best in life. It is honestly one of the best things about firms and performing
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on brand is that person is surrounded by such skilled and talented bunch of individual who people learn from every day. CONCLUSION From above analysis it has been concluded that Pippa Murray was a great and successful business women as she have all the skills and knowledge which make her as well as move towards become a entrepreneur. There are different factors available, that motivates her and pushes her towards success for longer period. Furthermore, it has been summarized that Pippa Murray learns and motivated herself by gaining a lot of experience while training for marathon. At that time she understand what makes her life better than before, her love for nut butter inspire her to product oil free and healthy butter for everyone nearby her.
REFERENCES Book and Journals Berk, S., 2019. Becoming More Than My Title: From K–12 Art Teacher to Director of a University-Wide Entrepreneurship Initiative.Art Education.72(6). pp.36-40. Bhansing, P.V., Hitters, E. and Wijngaarden, Y., 2018. Passion inspires: Motivations of creative entrepreneursincreativebusinesscentresintheNetherlands.TheJournalof Entrepreneurship.27(1). pp.1-24. Gielnik, M.M and et.al., 2017. Boosting and sustaining passion: A long-term perspective on the effects of entrepreneurship training.Journal of Business Venturing.32(3). pp.334-353. Idris, N. and Tan, J., 2017. Review of literature on women entrepreneurs.Journal of Global Business and Social Entrepreneurship (GBSE).1(3). pp.1-11. Paul, J. and Shrivatava, A., 2016. Do young managers in a developing country have stronger entrepreneurial intentions? Theory and debate.International Business Review.25(6). pp.1197-1210. Qian, H., 2018. Knowledge-based regional economic development: A synthetic review of knowledgespillovers,entrepreneurship,andentrepreneurialecosystems.Economic Development Quarterly.32(2). pp.163-176. Utami,C.W.,2017.Attitude,SubjectiveNorm,PerceivedBehaviour,Entrepreneurship Education and Self Efficacy Toward Entrepreneurial Intention University Student In Indonesia.