Empirical Analysis Of Craftsman

NYENRODE BUSINESS UNIVERSITEIT Empirical analysis of craftsman Managerial- and entrepreneurial skills amongst novice, serial and portfolio entrepreneurs within Dutch SME companies 1 DIFFERENT TYPES OF ENTREPRENEURS AND THEIR CHARACTERISTICS DEVELOP THE NOVICE ENTREPRENEUR POPULATION n= 180 The novice entrepreneur drives a single company. They spend more time on the production of a product or service and advisers / networks than the habitual entrepreneurs. At an average age of 34 they started their venture. ANNUAL TURNOVER AVG 2.8 MM EMPLOYEES AVG 20 FTE AVG 43 year AVG 9 year AGE IT EXPERIENCE GENDER AVG 89% male THE HABITUAL ENTREPRENEUR The habitual entrepreneur drives or has driven several companies. POPULATION n= 190 ANNUAL TURNOVER AVG 6.2 MM They spend more time spotting business opportunities and business planning than novice entrepreneurs. At an average age of 31 they started their first venture. According to various studies, they create more jobs and value. EMPLOYEES AVG 35 FTE AGE AVG 44 year EXPERIENCE AVG 13 year GENDER AVG 95% male A habitual entrepreneur can be a serial or portfolio entrepreneur (and can sometimes be both) The serial entrepreneur The portfolio entrepreneur The serial entrepreneur has several companies driven in succession and spend more time on business networking than the portfolio entrepreneur. The portfolio entrepreneur has driven several companies simultaneously and spend more time on management than the serial entrepreneur. II WHERE AND HOW THE POPULATION WAS DRAWN Approximately 350 entrepreneurs from across the Netherlands participated. 75% of the entrepreneurs has an HBO+ educational background. Only SME entrepreneurs are included in V3% started their first company less than The participating entrepreneurs rated their own skill level and indicated how relevant they consider these skills to their one year ago. 20% have done so for more than 20 years ago. the results. Data and conclusions were tested on success through an online questionnaire. significance, validity and reliability. IBM SPSS Statistics was used to perform over 10 multivariate statistical tests. As many as 19 different industries are examined. NOTABLE RESULTS FROM THE RESEARCH POPULATION where entrepreneurs spend time on? How satisfied are entrepreneurs with their success? Marketing / Sales Management (planning & organizing) People / staff Emotional success (happiness / pleasure) Social (social / environmental) Personal development Most time Most happy Procurement of raw materials Legal / structure / legislation Business planning Business time division / focus Financial (wealth) Work / life balance Least time Least happy 4 SKILL DIFERENCES BETWEEN NOVICE AND HABITUAL ENTREPRENEUR "Ultimate success in entrepreneurship requires certain skills. These skills can be developed and not every entrepreneur has the same skill level. " (Thomas S. Lyons) Note: between the serial and portfolio entrepreneur no significant differences were found Craftsman skills The novice entrepreneur The habitual entrepreneur What is the perceived skill level? Definition: "technical and / or functional How relevant is this skills within the core skill for success? business of the enterprise" How much time is spend on this skill? ( Highest scores/ center of gravity Managerial skills The novice entrepreneur The habitual entrepreneur What is the perceived skill level? How relevant is this skill for success? How much time is spend on this skill? DO00 Definition: "Direct control and organization of the daily work" Highest scores/ center of gravity Entrepreneurial skills The novice entrepreneur The habitual entrepreneur What is the perceived skill level? Definition: How relevant is this "the development and marketing of existing or innovative products by creating solutions for skill for success? II How rmuch time is needs in the market" spend on this skill? Highest scores/ center of gravity ► DIFFERENCES BETWEEN LARGE AND SMALL PORTFOLIOS Craftsman skills Managerial skills Entrepreneurial skills Percived skill Relevance Remarkable: perceived skill level starts high, decreases as the number of firms increases, but then increases again! 6+ 6+ 6+ Portfolio size Portfolio size Portfolio size