Abstract
The article presents the results of the performed research of personal psychological factors contributing to business success. The analysis of these factors was carried out according to three criteria of business success: entrepreneurial motives, entrepreneurial goals, and entrepreneurial resources. The differences in entrepreneurial motives and goals of successful entrepreneurs and beginners have been determined. The revealed personal traits promoting business success are autonomy, self-expression, purposefulness, planning, and self-efficacy.
Highlights
Entrepreneurship development is one of the most important factors of economic growth and social stability in society
We propose to evaluate professional successfulness with two criteria: external and internal (Stephen & Thomas, 2001)
In our study, we have analysed the factors of business success, based on the abovementioned components
Summary
Entrepreneurship development is one of the most important factors of economic growth and social stability in society. There are two main interrelated factors in the entrepreneurship structure: economic, this factor includes the desire to independently raise own level of material capacities, to gain economic independence, to improve quality of life; psychological, this factor is related to personal self-realisation, the desire to increase social status; to gain personal independence and autonomy; to achieve professional. Entrepreneurship is defined as an innovative activity associated with the use of available opportunities with maximum benefit (Drucker & Senge, 2003), as a process creating something new (Hisrich, 1990) and an entrepreneur means a person who deicates all his/her time and force to this purpose, assumes all financial, psychological and social risks and receives money and satisfaction as reward (Hisrich, 1990). An entrepreneur’s main activities are: embracement of an important strategic goal, innovations, risk bearing, which distinguishes his/her from other economic actors (Chell, 2008)
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