For the person who has achievement motivation and whose social self-image is not in conflict with starting a company, there are two kinds of conditions which become critical:
Similarly, an individual who believes that he is ready to start a company is probably reaching that decision from some background of experience, exposure, special skills. and industry knowledge. This is not to say that some people do not try to initiate businesses when they are totally unprepared. it would imply, however, that in most of such instances the individual himself knows very well that the odds are against his being able to make a go of it. It might be useful to think of an individual’s readiness in terms of levels of specific and general self-confidence. Specific self-confidence in this context represents an individual’s feeling of mastery over the kinds of tasks and problems he would expect to encounter in starting a company and making it successful. General self-confidence would be his feeling of well-being and his universal assurance that he can accomplish things.
What people learn through a variety of business and related experience accumulates over time. Most people learn relatively more and learn relatively more rapidly early in their careers when much of what they do and see is new to them. And although the relative rate of learning may diminish over time, the cumulative effect is an increasingly competent individual. The evolution of a person’s readiness as reflected in his specific self-confidence to master various elements of a venture is depicted graphically in Fig. 1. General self-confidence, which is necessary for someone to want to try something new, is an elusive idea. Most people can identify in their own lives those periods when they were confident and up for doing big, new things. They can also recall other times when they were anxious, and uncertain-—unwilling to get away from the sure and the known. Given the high degree of uncertainty for most people in starting a company, a high level of general self-confidence is necessary for them to be willing to try.
- how ready he sees himself for undertaking such a venture,
- how many distractions or obligations he sees holding him back.
Similarly, an individual who believes that he is ready to start a company is probably reaching that decision from some background of experience, exposure, special skills. and industry knowledge. This is not to say that some people do not try to initiate businesses when they are totally unprepared. it would imply, however, that in most of such instances the individual himself knows very well that the odds are against his being able to make a go of it. It might be useful to think of an individual’s readiness in terms of levels of specific and general self-confidence. Specific self-confidence in this context represents an individual’s feeling of mastery over the kinds of tasks and problems he would expect to encounter in starting a company and making it successful. General self-confidence would be his feeling of well-being and his universal assurance that he can accomplish things.
What people learn through a variety of business and related experience accumulates over time. Most people learn relatively more and learn relatively more rapidly early in their careers when much of what they do and see is new to them. And although the relative rate of learning may diminish over time, the cumulative effect is an increasingly competent individual. The evolution of a person’s readiness as reflected in his specific self-confidence to master various elements of a venture is depicted graphically in Fig. 1. General self-confidence, which is necessary for someone to want to try something new, is an elusive idea. Most people can identify in their own lives those periods when they were confident and up for doing big, new things. They can also recall other times when they were anxious, and uncertain-—unwilling to get away from the sure and the known. Given the high degree of uncertainty for most people in starting a company, a high level of general self-confidence is necessary for them to be willing to try.
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