The IT Entrepreneur in SMEs

Throughout the book, we have referred to the leaders of SMEs without actually saying much about such individuals. There is, of course, much more to understanding leadership in SMEs who engage in IT innovation. In this conclusion, we explore the key characteristics of IT entrepreneurs who have created successful SMEs. For example, entrepreneurs usually have a high need for achievement as well as a great deal of self-confidence. Successful entrepreneurs are also quite knowledgeable with regard to the technical content of their organization’s product or service. But entrepreneurs whose organizations are successful over the long run also share a set of characteristics that define exceptional organizational leaders. So what sort of person is the “IT entrepreneur?” Many assume that the aim of entrepreneurs is wealth, but this is not really the case. Entrepreneurs often aim for profit as a way of measuring their success as entrepreneurs, rather than solely to accumulate personal wealth. What’s more, some entrepreneurs derive primary satisfaction from creating successful ventures, rather than from leading those ventures over the long term. Such individuals often sell a successful firm and then repeat the process of creating a successful new venture. There are, however, entrepreneurs who go on to become successful organizational leaders, as well as successful entrepreneurs. First we will look at the fundamentals of entrepreneurship. Then we explore the key characteristics of successful IT entrepreneurs. Finally, we look briefly at where IT entrepreneurship may go in the twenty-first century.