Entrepreneurial Experience Case Study

Demographic factors generally refer as socioeconomic characteristics of a population including age, gender, income, family status and education level that influence to the entrepreneurs’ moves towards entrepreneurship. The owner of Adzie Cafe and Bakery stated that experience and education are the demographic factors that influenced her in opening the business.
Entrepreneurial experience. Entrepreneurial experience refers to which one obtain in the course of founding and organizing the previous firm as an entrepreneur (Jo & Lee, 1996). As the business of Adzie Cafe and Bakery is a family business, all the family members have their own experiences in managing the business. Therefore, the owner of Adzie Cafe and Bakery stated that the business

They are based on the entrepreneur’s perspective and how the entrepreneur must act in order to become successful for a long term period. Adzie Cafe and Bakery stated that there are four main entrepreneurial traits that affected to its business.
1. Resilience
Resilience means that an entrepreneur should not take failures as dismotivation factor as failures might come more often than success. An entrepreneur may be experienced a lot of failures before experience a success as the failures become a supportive sight to be better in future planning. Everything will not be right at all time, so an entrepreneur should learn positively from the failures and use that as the chances to try something new for upcoming business planning.
The owner of Adzie Cafe and Bakery said that an entrepreneur should has strong and positive mentality to maintain in business industry. There might be a lot of challenges out there to maintain and stabilizing a business, but to become a successful entrepreneur, we should be able to take the challenges as the opportunities for us to be a proactive entrepreneur and should not easily give up over that uncertain circumstances that would not guaranteed us any good

In order mean, tolerance of ambiguity is about risk taking. An entrepreneur should be able to face the uncertainty in business industry. An entrepreneur should not be afraid to experience humiliation, missing payroll, deficit cash or even bankruptcy. All these uncertainty circumstances are common in business industry and an entrepreneur should not hesitate to take risk in doing a business. All businesses have these circumstances to face and have potential to failure. So, a successful entrepreneur must be brave in taking any steps that will contribute to a successful business