A guidance to entrepreneurial success

Published on : Friday, June 30, 2017

indiaBehind a ‘successful’ tourism entrepreneur, there remains several unsuccessful years and countless sleepless nights.

The University of Surrey investigated into pioneering entrepreneurs starting to work in tourism has found that in some of the first undertaken analysis, how they have to make use of initiative and hard work. Many a times, often work for nothing to defeat the obstructions in arranging their innovation.

The researchers, who included University of Surrey’s Isabel Rodriguez and Allan Williams, explained the research as crucial since the originality of the entrepreneurs who are “new to tourism” is inadequately understood.

To quote Rodriguez, ‘we were really interested in this essential area of research as we wanted to show that the innovation process in services, especially by new to tourism entrepreneurs, is a complex and experimental one,” adding, “The tourism entrepreneurs face many challenges and successfully overcame them by being highly dynamic and market-driven. We wanted to highlight how they succeeded doing this in an uncertain process.’

Entrepreneurs mainly utilize creative policies to triumph over these obstacles and do well in spite of their dearth of financial and human resources. To keep the entire thing floating, they can accumulate money by running the business from home or virtual mode, “share” employees with other companies, offer a share of the business in return to secure specialist advice, as business owners generally work at lesser rate than market price.

Building connections and networks with various stakeholders in order to make sure that the innovations are productively developed and executed simultaneously remains another entrepreneurial strategy to overcome the lack of resources.

The research brought to the forefront some of the impediments the entrepreneurs had to overcome. These integrated few areas of the tourism industry being at the back the times when it came to using technology, which gave power to the entrepreneur to relate to technological knowledge to draw customers.

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