Successful entrepreneur: a discriminant analysis

Abstract

Since an entrepreneur is a vital person in business World characteristics for entrepreneurs have to developed for the success of the entrepreneurship. This study tries to identify predictors that differentiate between unsuccessful and successful entrepreneur groups and to know the impact of these predictors on the selection of entrepreneur. This study collected data from 145 entrepreneurs in ADSL. They were asked about the characteristics for selecting an entrepreneur. This study adopted a non-probability sampling technique i.e. Convenience sampling. Results of this study reveal that values of Wilky’s λ for all predictors in the discriminant function vary between 0.468 to 0.970. Specially speaking, age, product or market experience, venture or work experience, risk- taking period, and investment motive period of the discriminant function plays an important role in determining the entrepreneur than innovative mind period. Thus, these predictors significantly differentiate between two groups such as unsuccessful and successful entrepreneur groups. These indicators explain around 73% of the variance in the selection of entrepreneur. Based on the results of the study, a standardized canonical discriminant function has also been developed.