Entrepreneurial Personal Quality And Entrepreneurial Success Relationship

With the deepening of reform and opening up as well as the increasing globalization of the world economy, China has accelerated the process of internationalization. Along with the employment structure and labor structure changing, entrepreneurial activity has increasingly become a strong driving force for China’s economic development. As an important part of the national economy, Small and Medium-size Enterprise (SMEs) provide a lot of jobs, the growth and development arouse wide attention and research from the all sectors of the society. The concept of "entrepreneurship" is coming into view as a hot topic. However, according to Schultz’s human capital theory, human factors play a decisive role in all variety of resources. The personal qualities of the entrepreneur are the most crucial elements influencing entrepreneurial success. Studies have shown that the personal qualities is the most important personality characteristics for successful entrepreneur, and the venture without certain qualities often may lead to a high failure rate.This article aims to analyze the common personal qualities of successful entrepreneurs should have, based on the research of entrepreneurship key elements, to find the relationship between the personal qualities and entrepreneur success. Through a lot of literature research, interviewing successful entrepreneurs and losers who had ever pioneered, and recorded the interviewing as cases, author did analysis on these cases. This article have a in-depth study on the intrinsic link between the personal qualities and entrepreneurial success, to find entrepreneurial potential theoretical basis for the entrepreneurs or potential entrepreneurs, furthermore to propose for the college students that what personal qualities should be cultivated in personal career planning, in order to improve the success rate of entrepreneurship. Finally with the empirical case analysis, it’s verified that the personal qualities play a decisive role in the entrepreneurial success, and further theoretical research direction is proposed.In this article, combining the theory inheritance and practice innovation, normative research and case studies, the core qualities of successful entrepreneurs are summarized. This study results have practical significance for the entrepreneur to foster their personal qualities, but also has certain reference value for the college students being educated, in particular those expecting or planning their own business in the future. The results of this study also can provide a reference for the venture capitalists which type of the entrepreneurs should be chosen to invest for rational allocation and utilization of limited social resources.