Essential Skills for Ecuadorian Entrepreneur´s Success

Abstract

This article presents a study that determines the skills considered essential for entrepreneurs from a theoretical and practical point of view. For the development of this research, two phases were developed, the first was oriented to the analysis of the existing agreement between Ecuadorian entrepreneurs on the skills that, according to the analyzed literature, contribute to the success of a business; and the second to verify the agreement in the results obtained and validate the skills identified. The study involved 10 experts and 400 entrepreneurs, considered successful, to identify what they considered to be essential skills for the success of a venture based on skills recognized in the literature. The results made it possible to consistently identify the essential entrepreneurial skills in the Ecuadorian context with high statistical significance, which leads to suggest that these skills should be enhanced in the training of incipient entrepreneurs already consolidated in the market. Through the research, it was conclusively revealed that the entrepreneurs studied consider that these skills are facilitators of the success of their businesses, so their mastery could contribute to reduce the mortality rate of both new and established businesses.

Keywords

• Entrepreneurships
• Entrepreneurial skills
• Business success