IDENTIFYING THE POTENTIAL OF A TECHNOLOGICAL ENTREPRENEUR IN EXECUTING AN IDEA SUCCESSFULLY

A startup`s closure is upsetting in today`s business ecosystem. In most of the cases, it is due to the entrepreneurs` failure to execute their ideas. Paradoxically, some creative entrepreneurs with excellent ideas are ineffective in executing their ideas. This paradox is expressed in different and contradictory capabilities that are required from the entrepreneur. To further explore this phenomenon, we developed a personality difference scale to better identify entrepreneurs with a significant potential to execute their ideas successfully. 172 entrepreneurs completed a list of statements in an attempt to validate the scale. The results indicate that entrepreneurs that are being driven with a sense of a high mission style integrated with high future thinking style, that have a high dynamic personality integrated with a high analytic thinking capabilities and low level of past time perspective as well as some previous experience with prior knowledge in executing ideas, and who invest personal funds in their current idea, have a significant potential to succeed in executing their innovative idea and bring it to market.

In our study, we tested the correlation between the entrepreneur’s different styles, thinking time styles and time perspective styles as well as explored the construct validity of the EII scale. Our findings also provide support for the supposition that the venture’s success is differently depending on the entrepreneur’s personality difference. In an era of fierce competition for resources – human and financial, this personality difference scale, may play a role in reducing ventures’ failure rate by enabling entrepreneurs, stakeholders and investors predict with a significant reliability the entrepreneur`s cognitive potential to bring a product or service to market in as short as possible a time frame. In versatile and accelerating market conditions, the uncertainty that lies ahead of a venture is very high. Thus, the cognitive factor that could predict the success of a leading personality in the venture to navigate the uncertainty is a corner stone of any initiative.