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Identity crisis: Before becoming an entrepreneur, generally a person is dissatisfied with his preset role or identity.
There is a feeling of dissatisfaction of not being able to do what he would like to do.
Transitional
stress:
When an individual is ready to do something at this own risk by taking initiative, he undergoes a great influence of getting failed. Search: On the verge of effective coping with conflict and stress, he looks around for different kinds of business and other entrepreneurial possibilities.
Deliberation: The potential entrepreneur wants to discuss the matter with others, which concern him in more intimate way.
Choice: The person is more clear about the business/Industrial unit which he would like to se up. This marks the end of the firs phase of identity sharing with others.
Enterprise to banks and other institutions, and raises necessary financial and human resources.
New identity:
Now the person acquires new identity of an entrepreneur. Like every identity, this also has its relevant lifestyle, conflict and stress, linkages in the social system and process of socialization.
different roles, i.e. entrepreneurial role, managerial role and different roles in social milieu.
Identity integration:
He establishes his linkages with other entrepreneurs and start relating himself to a reference group. He may join association, chamber of commerce or other organizations.
Linkage building:
He establishes linkages with other entrepreneurs and support systems for effective function.
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