Impact of Background and Experience on Entrepreneurship - ESBM Report

This report provides an insightful overview of entrepreneurship, emphasizing the crucial role of background and experience in shaping successful ventures. It delves into the core principles of entrepreneurship, highlighting the significance of innovation and risk-taking in starting a small business. The report utilizes case studies of prominent entrepreneurs, specifically Bill Gates and J.K. Rowling, to illustrate how their unique backgrounds and experiences, including challenges like early setbacks and personal struggles, influenced their paths to success. The analysis underscores the importance of perseverance and dedication, demonstrating how these entrepreneurs overcame obstacles to achieve their goals. The report concludes by reinforcing the idea that passion and determination are key factors in overcoming failures and achieving remarkable outcomes in the field of entrepreneurship. References from relevant academic sources are included to support the analysis and findings.

ENTREPRENEURSHIP AND SMALL
BUSINESS MANAGEMENT (ESBM)

TABLE OF CONTENTS
INTRODUCTION
MAIN BODY
IMPACT OF BACKGROUND AND
EXPERIENCE ON ENTREPRENEURSHIP
CONCLUSION
REFERENCES

INTRODUCTION
The main aspect of Entrepreneurship is to produce a product or a
service aiming to maximize profit or to disrupt an industry by
taking the initiative to start a small business.

Impact of Background and Experience on
Entrepreneurship
 Entrepreneurs are not Gods, they are the individuals who
begin new business, taking all the risks and facilitating by
the rewards.
 So, they are the innovators, innovating by giving new
ideas, services and goods or procedures.
 Entrepreneurship is mostly affected by the background
and experience of the entrepreneurs.

Bill Gates
Being one of the most popular entrepreneurs of all time, Bill Gates began the
revolution of technology by software company launching after becoming drop
out from Harvard. He became one of the richest man in the world by attaining
success in Microsoft.

As a child, he was a voracious reader and introvert. His parents were
worries about his behaviour as he became bore and withdrawn at times.
He was a scholar in his school.

But, after doing a lot of hard work in computer, he was focused to
enhance his career in the same field. He became demotivated when he
came to know that the company he idolized was failing.
The people working under him were more aged so he thought that he
will not be paid for his work.

The another example is of J.K. Rowling. The devastating death of her
mother proved to be the hindrance in her journey of Harry Potter. She
stopped writing because of depression. Not only this, when she made
herself come back, she again faced one more depression of failed marriage
and a baby daughter.

But, besides this, she kept writing her book. She faced rejection
everywhere. But because of her hard work and determination
towards writing she became the first billionaire author.

CONCLUSION
So, the report aimed at describing the entrepreneurship in small business.
The two well-known examples of Bill Gates and J.K. Rowling shown that
if one has a dream or passion and he gets failed and rejected but working
on something one believes in will might end up in breaking records.

REFERENCES
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan
Limited.
Dana, L.P., 2018. ENTREPRENEURSHIP & SMALL BUSINESS.
Laudano, M.C., Marzi, G. and Caputo, A., 2018. A decade of the
International Journal of Entrepreneurship and Small Business: a
bibliometric analysis. International Journal of Entrepreneurship and Small
Business. 33(2). pp.289-314.
Urbano, D. and Aparicio, S., 2019. An Overview of the Economics of
Entrepreneurship and Small Business: The Legacy of David Audretsch.
In From Industrial Organization to Entrepreneurship (pp. 279-306).
Springer, Cham.