New Perspectives in Entrepreneurship - Avril Kennedy and Harlequin Essay

New Perspectives in Entrepreneurship - Avril Kennedy and Harlequin - Essay Example Mary Jesselyn Co (2006, p. 45-46) lists several characteristics of a successful entrepreneur, including a passion for business, internal locus of control, risk-taking, commitment, dedication, perseverance, a need for achievement, initiative, feedback/advice-seeking, creativity and innovation. Zeelie et al. (1998, p. 12) add, "In order to achieve entrepreneurial success, personal, internal development and the development of good interpersonal skills are essential." Steven Brandts (1996, ch. 4 p. 4) list includes applicable business or technical experience, verifiable integrity, the ability to communicate ideas, and a propensity towards team work. Evan Douglas (eds Carsrud & Braanback 2009, p. 19) wrote that "successful entrepreneurship is likely to provide societal benefits as well." Finally, Chris Steyaert and Daniel Hjorth (2004, p. 269) wrote that entrepreneurs emphasized the importance of alertness and timeliness. "Timeliness in taking action was critical because [the entrepreneur s] goal was to grab the (quickly) passing opportunity. Opportune times, they stressed, do not last long in fast-changing environments." Avril Kennedy had exhibited many of these characteristics from the time she started Harlequin. Applicable business and technical experience. Avril had experience selling as a demonstrator of products; therefore, she was exposed to a retail environment. She knew about the potential of making a profit at Barras because her ex-husband had rented a stall there in the past. Alertness and timeliness. As the business grew, Avril stayed abreast of news that would offer opportunities to expand the business, particularly with regards to the availability of more desirable real estate. Risk-taking. Co (2006, p. 46) noted that entrepreneurs "take calculated risks, not high or wild risks," and Avril built her business slowly and expanded purposefully. In an interview with Carmen Nobel (2011, n. p.), Tom Eisenmann, a professor in the Entrepreneurial Management Unit at Harvard Business School, said, "Lean startups don't try to scale up the business until they have product-market fit [PMF], a  magical event — more easily recognized in retrospect than in the moment — when they finally have a solution that matches the problem.