School of Health, Care and Social Welfare

HOW TO BECOME A SUCCESSFUL

ENTREPRENEUR
A qualitative research about how to start-up a successful business

NERGIZ FATAH

Main Area: Master thesis Supervisor: Mohammadrafi Mahmoodian

Level: Advanced Examiner: Susanna Toivanen
Credits: 15
Programme: Master work life science Seminar date: 2021-03-02
Course Name: Master thesis in working life Grade date: 2021-03-9
science
Course Code:PSA313
ABSTRACT

Starting a business requires careful preparation to succeed. The failure of a business is often
potentially detrimental to an efficient market economy. An understanding of how to start a
business and why some companies succeed is crucial to the stability and health of the
economy. The purpose of the study is to examine the entrepreneurs' experiences of how to
start their own company and what makes a company successful. The study is based on a
qualitative approach with semi-structured interviews as design. Targeted selection was
chosen in the study with a total of five respondents participating in the survey in Västerås.
Data were analyzed by a manifest content analysis. The results show five important
categories that have a significant effect on how to start a successful business. The categories
were "Motivation", "Business idea", "Quality", "Knowledge" and "Business plan". According
to entrepreneurs' experience, these five categories play a significant role in succeeding and
overcoming challenges that may arise along the way. The conclusions are to facilitate the
process of how to start your own business, it is important to consider the five categories to
succeed and increase the chance of success.

Keyword: Business plan, Business idea, Entrepreneurship, Failed company, Knowledge,

Quality, Motivation, Successful business, Startups,
CONTENTS

1 INTRODUCTION .................................................................................................. 1
Aim & Research Question............................................................................. 2

2 BACKGROUND ................................................................................................... 3
Business Climate ........................................................................................... 3
Entrepreneurship ........................................................................................... 4
Business plan ................................................................................................ 5
2.3.1 Summary ................................................................................................ 5
2.3.2 Business idea ............................................................................................. 5
2.3.3 Marketing Plan ........................................................................................... 5
2.3.4 Organization ............................................................................................... 6
2.3.5 Profitability & Financing .............................................................................. 6
2.3.6 Risk Analysis .............................................................................................. 6
CHALLENGES ................................................................................................ 6

3 PREVIOUS STUDIES........................................................................................... 8
Definitions .................................................................................................... 10
3.1.1 Quality .................................................................................................. 10
3.1.2 Motivation ............................................................................................. 10
3.1.3 Knowledge ............................................................................................ 10
3.1.4 Business plan ....................................................................................... 11
3.1.5 Business idea ....................................................................................... 11

4 THEORETICAL PERSPECTIVE .........................................................................12

Entrepreneurial success components theory ........................................... 12
Emotional intelligence theory ..................................................................... 12
Purpose over profit- Golden circle ............................................................. 13

5 PROBLEM FORMULATION ...............................................................................15

6 METHOD .............................................................................................................16
Choice of method ........................................................................................ 16
Selection....................................................................................................... 16
Data Collection ............................................................................................ 17
 Analyses ....................................................................................................... 18
Quality Criteria ............................................................................................. 20
Ethical considerations ................................................................................ 20

7 RESULTS ............................................................................................................22
Motivation & Goals ...................................................................................... 22
7.1.2 Motivation ................................................................................................. 22
Business idea & Quality .............................................................................. 24
7.2.1 Business Idea ....................................................................................... 24
7.2.2 Quality ...................................................................................................... 25
Knowledge & Planning ................................................................................ 26
7.3.1 Knowledge ................................................................................................ 26
7.3.2 Business Plan ........................................................................................... 27

8 DISCUSSION ......................................................................................................28
Result discussion ........................................................................................ 28
8.1.1 Motivation ............................................................................................. 28
8.1.2 Business idea ....................................................................................... 29
8.1.3 Quality .................................................................................................. 29
8.1.4 Knowledge ............................................................................................ 30
8.1.5 Business Plan ....................................................................................... 31
Method discussion ...................................................................................... 32
8.1.1 Qualitative method.................................................................................... 32
8.1.2 Selection discussion ................................................................................. 32
8.1.3 Discussion of data collection .................................................................... 33
8.1.4 Analysis discussion .................................................................................. 33
8.1.5 Discussion of quality criteria ..................................................................... 34
8.1.6 Ethics discussion ...................................................................................... 35

9 CONCLUSIONS ..................................................................................................36
Suggestions for further Research .............................................................. 36

REFERENCE LIST ....................................................................................................37

APPENDIX A: INTERVIEW GUIDE

APPENDIX B: MISSIVE LETTER

1 INTRODUCTION
How can you go about starting your own business? What do you need to develop an idea for a
business idea? For a new company or project to succeed and be successful, much depends on
the implementation of an idea. A lot of preliminary work is needed to propel a new company,
such as a strong idea, a financial plan that supports implementation and a vision of how to
form. It can also be valuable to find out if there are any specific rules to adhere to succeed
and drive a company forward.

The purpose of this study is to investigate entrepreneurs' experiences on how to start one’s
own business and what makes a company successful. This study will be useful and valuable
for all beginners who want to know how to start their own business and become their own
successful manager in work life but even for the research community as it investigates. The
reason why the researcher has chosen and written about this topic is because many people
have a great interest in opening their own businesses and realizing their dreams, but there is
a lack of knowledge and information that is needed before getting started. If you have an
idea, but lack of experience and knowledge in business, it can be difficult to know how to
begin and where to turn to implement your plans and get the support you need. A structured
business plan may be needed and facilitate the road to be able to defend against any obstacles
and most problems that may arise along the way.

There are many questions that can occur before starting your own business and therefore it is
a great advantage and start to prepare and get useful information from entrepreneurs who
are experienced and successful with their company. This can increase the chance and succeed
as a business owner. There is research that shows that people who have acquired information
and knowledge before starting a business have a greater chance of succeeding as an
entrepreneur. The author is therefore interested in writing about this topic and seeking
information through trustworthy sources and databases to answer the research question and
purpose. The study will include basic knowledge about how you as a beginner should go
about starting your own as well as learning what makes a company successful. This study will
be inspiring for anyone who wants to become successful entrepreneurs in future.

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 Aim & Research Question
The purpose of the study is to investigate entrepreneurs’ experiences on how to start-up your
own business and what makes a business/company successful. The research question is
entrepreneurs’ experiences on how to start up a company and what makes a company
successful?

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2 BACKGROUND
One of the most common dreams among young people is how to start and run their own
business. The reason why this drives thousands of people to start-up their own business is
because people want to become their own boss, enjoy the full rewards of their hard working,
or build something meaningful. Harris (2018) writes that the reason why most company fail
vary, but a lot depends on poor estimation of what is involved in starting a business, such as
poor planning and a poor understanding of what customers really want and need.

The number of companies is increasing in Sweden, in 2013 the figure was measured at about
1 million. This growth of self-employed people is an important driving force in our economy.
At the same time, the number of corporate bankruptcies increased in 2013 compared with the
previous year (Ekonomifakta, 2014). Registering a new business is easy. But it is not as easy
to get an idea in advance of what extensive work is required to start your own business from
scratch. Tillväxtverket (2010) claims that it is more common among foreign-born people to
run their own company than it is for Swedish-born people. Foreign-born people tend to have
smaller companies and the start-up phase is largely financed by family and friends
(Företagarna, 2010). Despite this, there is very low entrepreneurial activity in Sweden today
in comparison with the other Nordic countries (Företagarna, 2010).

Many previous studies have examined the importance of experience in starting a business.
Experience shows that it has a significant impact on entrepreneurship, and it can be the key
to a successful business (Atherton, 2007). A company that also has an experienced team can
improve the chances of success of a new company. Most of the companies that were created
had some prior business experience. Studies show that an inexperienced team can still be
successful, but the chances of a strong success are enhanced by the advice of others. Sources
of experience according to studies can be business angels, non-executive directors, and
mentors. These people do not need to be from the same market or industry to give good
suggestions on company structure and marketing (Salamzadeh & Kesim, 2017).

Mengel & Wouters (2015) who conducted a study on the use of financial planning and control
systems in small and young start-ups and the effect of this on the company's success. Based
on survey data, the researchers found that educational background was a precursor to being
able to use planning and control systems and little support from work experience. The results
of the researchers' research showed that financial planning and control activities have a
function that benefits both small and large start-ups and that financial planning and control
in newly started companies facilitates uncertainty and limited resources. Factors such as the
presence of venture capitalists, the CEO's experience, strategy increase the likelihood of an
early adoption of financial planning and control systems in start-ups (Mengel & Wouters
(2015).

This subject is important for working life science because good knowledge of leadership and
organizations is a key factor in all future careers in management and organization nationally
and internationally. Good knowledge in this area provides good skills to work in a variety of
businesses and industries and the opportunity to develop their current work.

Business Climate
Until the middle of the 19th century, the only way to create companies and do business was
solely as a supervisor or as part of a partnership. The holders were preferably responsible for
the company regardless of dealers only or as part of a partnership. If the company became
insolvent, the holder got the debtor's prison and their family to the workhouse. Over time, the
nature of the company changed from small to cottage industries and family businesses to
larger, innovation-based initiatives. To propel the new industrial economy forward, the

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concept of limited companies in the UK was formed in 1855. The new concept was innovative,
elegant, and simple that proved successful (Harris, 2018).

There are both small and large companies with a certain amount of resources that it
coordinates. Resources differ depending on what kind of company you start. Resources may
include, for example, labor, capital, technology, and information. The purpose of the
coordination may, for example, be to develop, produce and sell goods or services. According
to Hendratmi, Ryandono & Sukmaningrum (2019) newly started companies have less than
20 employees and earn less than USD 100,000 per year.

Before starting a business, it is important to know what the individual wants to achieve
personally. Does the individual want to open it up to provide a better income level until
retirement? Common examples of these companies may be small consultants, or service
providers such as web designers, management consultants, photographers, technical
consultants and so on. These companies can provide comfortable income to the owner and
good job satisfaction as well as flexibility, but they do not tend to build equity. Or does the
person want to stratify? a company and then sell it when the person retires or wants to hand
over to their children? These companies may include stores, specialized manufacturers or
service companies and specialty suppliers or distributors. These companies are usually larger
than lifestyle companies and they tend to have equity that can be sold or traded. People who
want to start and run a business quickly for five years and then sell it for a significant return
can be found in the new technology, media, biomedical and other high growth areas of the
economy. But these companies require markets that are high in growth for room to grow and
large capital investments are needed to make them work (Harris, 2018).

There are different types of company form, so it may be important to have knowledge of the
different types of company to choose the right type of company before you start. (Hannah &
Kasuya, 2016) Some of the most common types of business that are relevant when starting a
business in Sweden are:
- Private business (Enskildnäringsverksamhet), means that the company is
started by a normal person and the company and the owner are regarded as one and
the same person. This means that the owner is responsible for the company's debts
(Hannah & Kasuya, 2016).
- Joint-stock Company (Aktiebolag)is owned by one or more persons but to start a
joint stock company a capital of at least SEK 25,000 is required. The owner has no
personal responsibility but risks only invested capital. There may be situations where
the owner becomes personally liable for payment, for example for unpaid taxes and
fees (Harris, 2018).
- Trading Company (Handelsbolag)is run by at least two people who want to start
a company together. No invested capital is a requirement, but both partners are
personally and jointly and severally liable for the company's debts (Harris, 2018).
- Economic association (Enekonomiskförening) is formed by at least three
people and the association shall promote the financial interests of its members. It is a
requirement that members participate in the business. Financialresponsibility is
limited to memberefforts (Harris, 2018).
- Non-profit association (Ideellförening)conducts business but the nonprofit
association must not be run to promote the financial interest of its members, but only
for a non-profit purpose (Harris, 2018).

Entrepreneurship
An entrepreneur is an enterprising person who creates new user value, in the business world,
entrepreneurs can create new goods or services such as a new organization / company of the
business operations. Another definition of the concept of entrepreneurship is creating one's

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own company to create a job that suits one's self and fulfill the dream. Entrepreneurs deal
with problems and find solutions, they go from thought to action, realizing ideas. Some
entrepreneurs start their own businesses while others use their entrepreneurial development
(Ahmed & Mcquaid, 2005).

The European Commission's Green Paper on entrepreneurship describes how important

entrepreneurship is for starting one's own business. The European Commission's Green
Paper notes that Europe needs more new businesses so it is important to encourage
individuals to start businesses and link this to a broader development of encouragement for a
corporate culture and entrepreneurship (Atherton, 2007).

Business plan
According to Kalrsson& Honig (2009), the business plan is today the key to successful
preparation, regardless of the type of company to run. Most new companies have failed
because of a lack of an effective business plan, this shows the importance of how important a
business plan is for new businesses that are started (Kalrsson & Honig, 2009).

A business plan is as a tool to facilitate and develop the idea and own work as a support for
communicating with other stakeholders as well. A business plan is thus a written document
describing the company's status and possible future, it is a maturation process that facilitates
progress from idea to a final project. Business schools teach business plans because it has
proven to help current and future entrepreneurs manage activities that involve a high degree
of complexity and uncertainty (Garcia, Lara & Lopez, 2019). A business plan usually contains
various parts, such as:

2.3.1 Summary
The summary is one of the most important parts of a business plan because in a small space,
the person must summarize and sell the project / idea to capture the readers' interest,
because there is a risk that the readers will lose interest. This summary should be a script for
the person who wants to start a business and attract people when he or she is to present the
company project orally. This part is last written when the person is ready with the business
plan travel, budgets, and calculations (Ryan, 2014).

2.3.2 Business idea

A business idea is the basis for a company with a vision of a service or product that others
should benefit from and how the company should make money. A business concept
highlights customer benefit, that is, what customers need or need, and how they should be
satisfied or solved with your business idea. It is an advantage and write how much the
customer will save or profit from using your product / service. It is also significant that there
is a description of the market, ie where the customers are in need. Which customers benefit
most from the products manufactured? Describe what is unique or innovative about the
business concept, is it the product that is special or the way it is provided. Can a business
model be used to more easily know how the company is designed and functioning? (Ryan,
2014).

2.3.3 Marketing Plan

This section of business plan? should include a description of:

- Market and competition analysis, to write a good marketing plan is it important to

gather information about which competitors are there? What is the difference
between your products and those already on the market? What needs do customers
have? Is new technology coming in that will knock out your products? After gathering

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 information is it significant and think about whether you should compete in price, or
do you think your product is better that you can sell for a slightly higher price?
(Gibb& Ritchie, 1982)
- The market / customer segment consists of, for example, looking at the market's
easiest parts to process, which customers will benefit most from your product or
service? It is an advantage if you investigate whether certain customer groups may be
more likely to buy your products than others (Gibb & Ritchie, 1982)
- Pricing strategy can be done by two basic principles. The cost of the product to
manufacture and how much you have to add to make a profit? What is the highest
price you can handle for customers to accept the price and want to buy your product?
Your business idea can only be implemented if you count on both ways. Set a price in
the beginning that you assume the market can accept and then you can assess
whether you can produce your product or service at that price (Gibb & Ritchie, 1982).
- Distribution and sales channels, at this stage is it significant to think about how your
products are distributed from manufacturing to consumer? Do sales happen directly
from factory to consumer? Or should you use a wholesaler / retailer, or will your
salespeople bring the products when they visit the customers? (Ryan, 2014).

2.3.4 Organization
Once you have explained your business concept and marketing plan, it's time to make a
description of your business. This section consists of a description of the division of labor,
both internally but also that which must be purchased externally. A description of the
division of responsibilities, management and personnel is described in this section (Ryan,
2014).

2.3.5 Profitability & Financing

To be able to borrow money, invest or take a job, it is important that you prove in the
business plan that the company can be profitable. A performance budget can be made here to
describe when the company starts to become profitable but also how big the future
profitability may be (Gibb & Ritchie, 1982)

2.3.6 Risk Analysis

What are the risks at the start of the business for you and others and what risks are you
willing to take? It is an advantage if there is an explanation of questions such as "What
happens?". it is also an advantage if you write in your budget about a variant that shows what
can happen if the production cost of products increases by, for example, two percent
everything else unchanged. Can you cope with these difficulties? (Ryan, 2014).

CHALLENGES
To start a successful business, it is important to find out what challenges can be found to
avoid problems and be prepared for any risks. One of these challenges can be financial
challenges because it is an integral part of the start-up process. It is obvious that every
company will someday face financial problems due to different reasons and at different
stages. The owner will try to convince family members and friends to invest in his / her idea.
The owner invests in the company because the idea is in the early stages, the owner needs
more money to expand it. It is important that the owner prepares a plan with support
documents to benefit from venture capital (Colombo & Piva, 2008).

Another challenge is human resources because when the individual starts a business, he/she
needs help to improve the prototype and basically the whole company. When starting up a
company, it is important to negotiate with people, create teams and finally hire employees.
This process is considered critical to succeed because if the owner lacks knowledge in the

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field, it can adversely affect the start-up of the company due to personnel management
problems (Salamzadeh & Kesim, 2015).

There is always a risk and uncertainty when starting a new company and this is a reason for
the low success of many newly started companies is that there is a lack of structured
management system such as financial planning and control. Another reason is that new start-
ups must adapt to the environment but also change their entrepreneurial strategy in order to
remain competitive (Mengel & Wouters, 2015).

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3 PREVIOUS STUDIES
In his study, Olugbola (2017) finds out that knowledge and information about
entrepreneurship is significant and has a major impact on being successful in starting a
business. Previous studies have also shown that the need for performance increases a
person's motivation who wants to start their own business, which is also considered a way to
succeed with the new company. One thing that all previous studies mention and come to
similar conclusions is the process of creating a business plan to succeed and become a
successful entrepreneur. The business plan is considered to be a decisive factor for the
success of a project, and it increases the chances of starting one's own business and helps to
manage risk taking and facilitates the execution of certain activities during the initial start-up
phase (Brinckmann, Grichnik & Kapsa, 2010).

The conclusion of Olugbala’s (2017) study says that knowledge is important that young
student should have for the growth of the economy so that it will lead to the success side of
the coin. It also states that young people who are currently employed need to be trained and
retrained for the future of creating successful companies, which also means high job security.
One of the main motives that have been discovered in the result of Olugbola’s (2017) study is
that the desire for independence is the main reason for starting a business. The request for
independence refers to the use of personal judgment of the entrepreneur's behavior rather
than being moved to act through external factors. The reason that independence is a main
motive is because it happens to individuals who want to be their own boss (Olugbola, 2017).
It is also mentioned in the conclusion that uneducated students should be educated on how
to become self-based on their capacity and that management should conduct a seminar for
future education on how companies can be set up by inviting successful entrepreneurs to
share their entrepreneurial knowledge. Olugbola (2017) has concluded in its study that the
best way to success is to have meetings with successful entrepreneurs, especially students,
because with their knowledge sharing will give many ideas about when, what, and how to
overcome challenges.

Another previous study written by De Silva (2010) examined the start-up and growth motives
of entrepreneurs who owned small and medium-sized businesses in Bradford. A sample of 30
companies were selected in Bradford using a qualitative research method. In-depth
interviews were conducted using the "storytelling" method and narrative analysis had been
used for data analysis. The study describes that push motives are the necessary elements that
entrepreneurs are driven or forced to start new companies to overcome negative forces, and
pull motives are, on the other hand, attractive reasons why entrepreneurs decide to start
companies. The study wants to investigate whether pull entrepreneurs and push
entrepreneurs are only motivated by one type or if these two are combined. Part of the results
in this study showed that 83.3 percent of those who started their own business had previously
worked as a full-time employee and of these entrepreneurs who worked full time, 92 percent
had at least one job-related push motive. But the entrepreneurs who did not work full time
before starting their own company, 16.7 percent were motivated by the need to earn a
reasonable living and not have a proper educational background. In the sample, 96.7 percent
showed that entrepreneurs were motivated by both push and pull motives when they decided
to start their own business. The result turned out to be a combination of both motives and
explains that entrepreneurs can have more motives rather than single overall motives.

De Silva (2010) writes that a few literatures have written about growth motives and claimed
that entrepreneurs who have started their own business with necessity / push motives have
later been motivated by pull motives with the company's growth. The study claims that pull
motives drive the company's growth. De Silva (2010) writes in his study that the majority of
previous research has found that entrepreneurs' intentions and wishes would determine the
entrepreneur's results. In the study, De Silva (2010) invented three main growth motives and
business growth: these motives were a) similarity in the type of work they perform, b)
similarity in doing business and achieving business success, c) need to use the company to

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satisfy personal / family goals. The results showed that entrepreneurs who were motivated to
grow the company were due to the similarity to the type of work they performed were (37
percent) and (30 percent) used the company to meet personal / family goals showed a lower
growth as opposed to from the entrepreneurs who started the company due to similarity in
doing business and achieving business success (33.33 percent). The study showed that
entrepreneurs who were motivated to achieve growth because of their similarity in doing
business and achieving business success achieved the highest growth and wanted to stay in
the industry.

Clercq & Arenius' (2006) study was about finding out if knowledge and self-efficacy have any
impact on the individual to start a successful business. The authors chose to investigate new
entrepreneurs from two different countries (Belgium and Finland) based on the Global
Entrepreneurship Monitor. The selected group was between 18 and 64 years of age.

The results of the study show that knowledge-based factors really have a strong influence on
the decision to start a company and succeed with it. The probability of running a successful
start-up company has been shown to be positively related to one's current knowledge base, ie
(an individual's perceived level of specific skills) and an exposure to external knowledge, ie
(personally know an entrepreneur and have experience as an informal investor).

According to Clercq & Arenius (2006), the individual needs to have self-sufficiency, that is, to
believe in himself and to be motivated to start a business. Clercq & Arenius (2006) believe
that the current knowledge base and exposure to external knowledge increases self-
confidence to successfully start a company yourself. A crucial factor that increases the
probability of starting a business according to Clercq & Arenius (2006) is the necessary skills
of an individual. The results thus show that individuals who are self-sufficient are more likely
to engage in entrepreneurial activities if they believe they have the skills required to
successfully carry out these activities. Why self-efficacy is important according to Clercq &
Arenius (2006) is because it has a great impact on a person's motivation and ability to
perform business start-up activities.

Another previous study written by Forker, Vickery & Droge (1996) examined whether and
how quality affects a company's results and its significance within a company. To find out,
the study examined empirical evidence from the furniture industry. The study has chosen to
focus on strategic business units and individual companies (including parent companies) in
the furniture industry. The participants in this study were chief executive officers (CEOs) and
directors of firms. The study made a sample of 65 companies where personal interviews were
conducted for each of these companies.

The results of a survey that had been sent to the furniture industry show that quality
dimensions such as design quality and product improvement are strongly related to business
results. Why some companies invest in product quality is to increase market share, lower
production costs and improve productivity and ultimately increase profits. The results show
that quality is considered one of manufacturing's top competitive priorities and a
precondition for success in the global market.

According to Forker, Vickery & Droge (1996) quality helps to satisfy the customer's wishes
and needs by creating and refining high quality products. What counts as high-quality
products according to Forker, Vickery & Droge (1996) are those that require good design,
thorough testing, and accuracy from engineered prototypes of engineers to design the
product. A deep and detailed customer analysis, motivated product positioning and carefully
considered product plans from marketing staff and process capacity as well as accurate cost
calculations. If all these functions are present, the product is considered high quality. Forker,
Vickery & Droge (1996) believe that high quality improves business performance and a
renewed organization that is proud of the products they create.

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 Summary
Studies mentioned above can be related to each other to a certain extent such as Olugbola
(2017) and Clercq & Arenius (2006) where both studies mention that knowledge-based
factors and information have a strong influence on the decision to start a successful company.
According to these two studies, knowledge and information facilitate the implementation of
certain activities during most phases of starting a business and the creation of a good
business plan can help to manage risks that may arise.

De Silva (2010) mentions that there are two different motives that are necessary for the
success of their company and these are the push and pull motives. The study claims that it is
primarily the pull motives that drive the company's growth and showed that entrepreneurs
who were motivated to achieve growth due to their similarity in doing business and achieving
business success achieved the highest growth and wanted to stay in the industry. This can
also be related to the Clercq & Arenius (2006) study which claims that self-efficacy is
important and has a great impact on a person's motivation and ability to execute business
start and succeed.

In conclusion, Forker, Vickery & Droge (1996) write that product quality is important for the
success of their company because product quality increases market share, lowers production
costs and improves productivity and ultimately increases profits. The results show that
quality is considered one of the highest competitive priorities in manufacturing and a
prerequisite for success in the global market.

Definitions

3.2.1 Quality
According to Golder & Moorman (2012), quality is the most important and most complex
component of the business strategy, because companies compete for quality, customers
secure for quality and markets are transformed into quality. Quality is a key force that leads
to happy customers, solid profitability, and the nations' economic growth. Golder &
Moorman (2012) believe that quality has its roots in business practice and in many
disciplines including marketing, management, finance, technology, operations, strategy, and
consumer research.

3.2.2 Motivation
Tohidi & Jabbari (2012) believe that motivation is something that drives people to achieve
high levels of performance and overcome obstacles to change. There are different definitions
depending on the attitude to the motivational phenomenon. The word motivation has been
inspired by the Latin term "move" and means movement. According to Tohidi & Jabbari
(2012) motivation is like a force and causes people to behave especially that causes
movement in humans. Motivation is the force that causes movement in humans. Tohidi &
Jabbari (2012) write “that all agents that cause (internal or external) activity in living beings
are considered a kind of motivation.

3.2.3 Knowledge
Knowledge is something that is based on what we believe or hold to be true. But for faith to
become knowledge, we must have good reasons, arguments, for what we believe in and that
we must justify, ie show or prove that what we believe is true. Knowledge is a kind of basic
knowledge, facts, along with understanding. Knowledge can be divided into four different
categories, knowledge, cognitive skills, practical skills, and a category that contains attitudes,
feelings, values, ethics and motivation. Knowledge is to a large extent not exchangeable, but
renewable (Paschek, Ivascua & Draghicia, 2018).

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3.2.4 Business plan
A business plan is a comprehensive document that describes the new company and how you
will realize your business idea. A good business plan aims to give you, banks and partners an
overall explanation of your new company, your offer, and the market you are entering. A
business plan must describe business goals and how the business idea is to be implemented.
Broadly speaking, a business plan contains a description of the business idea, what the
market looks like, as well as budget and calculations. Making a business plan is an
opportunity to really think through the business idea to see what can be improved (Guta,
2014).

3.2.5 Business idea

A business idea is the central thoughts, ideas and visions on the basis of which a company
operates. A key requirement of the business idea is that if it is followed well, it leads to the
company generating profit. The business idea does not necessarily have to be exclusive to the
company. It is possible, for example, to rent an already completed business idea and establish
it in an area other than where it is already being applied. A business idea is the basis of a
company and it describes the purpose of the business and how the company should make
money. A business idea is very long-term and should never really change. A business concept
describes how the company should achieve high profitability with the help of available and
future resources (Hougaard, 2005).

11
4 THEORETICAL PERSPECTIVE
The theoretical perspective in this study is based on Entrepreneurial success components
theory to create an understanding of the creation of successful companies.8

Entrepreneurial success components theory

In 1982, Gibb and Ritchie developed a theory that sees entrepreneurship as a social process.
Gibb and Ritchie believe that idea in general and ambition arise in a social situation. The
theory also states that even if one cannot conclude that entrepreneurs can develop in their
entirety, it is still possible to help with the creation of successful and sustainable companies.
This theory explains that no matter how important an individual personality is, the
individual's career can be affected by society's class structure. Family influence is another
factor that is about environment, relatives, parents, or friends, which means that they have a
great impact on the individual's career. Education, experience, and career choice also have a
great impact on the individual's career according to the theory "Entrepreneurial success
components theory" as well as current lifestyle and social issues such as participation and
accessibility. This means that these factors can influence an individual's life towards creating
a successful business without having the genetic factors to start a new business.

According to entrepreneurial success components theory a successful business starts with the
first step which is discovering motives or commitments about why a business should be
started. Once the person has cleared the motive, the next step is to find a significant or viable
idea. According to the theory, it is important that the idea is attractive and has a great
significance to the customer's needs and interests. It is important that the person discovers
such an idea that attracts customers' interest. The next step is to find the necessary resources
that the company requires, it can be, for example, materials, funding source and quality
suppliers. The last step according to this theory to create a successful company is about
applying the plan by going into full operation and then building a professional network to
maintain the company. The theory consists of four basic success components. These
components are idea and market, motivation and determination, resources, and ability.

Gibb and Ritchies theory (entrepreneurial success components) because it describes about
important factors that can be useful to know when starting a successful business. Such as
when an idea and ambition arise with the help of the social environment. The social
environment plays a significant role in starting a business. Because a person who wants to
become an entrepreneur is influenced by the people who are close to him / her (such as
friends and family). Or other factors such as education, knowledge, and experience. These
factors are usually one of the reasons when an entrepreneur gets inspired or discovers a
significant idea which in turn can become a successful business. Gibb and Ritchie (1982)
state that having a good knowledge and experience is another main reason to succeed in your
business but also environmental factors that have a great impact on an individual's life
towards creating a successful business. Although the individual's personality is important for
success, it is not enough because the individual's career is affected by class structure, family
influence, education, career choice, experience, current lifestyle, and social issues.

Emotional intelligence theory

Daniel Goleman is known for making the concept of emotional intelligence popular with his
best-selling book "Emotional Intelligence: Why it can matter more than IQ?". According to
Goleman (1995), emotional intelligence is more important for success in life than cognitive
intelligence (IQ) or technical ability in driving performance. Goleman (1995) believes that

12
humans have "two brains" one working with the rational and the other working with the
emotional (your IQ and EQ). Both the rational and the emotional play an important role in
the success of life and work. According to Goleman (1995), it is important to have high
emotional intelligences because he describes it as a collection of qualities, use and handling
of emotions in an intelligent way. Emotional intelligence means the ability to recognize our
own and others' feelings as well as emotional information that is about guiding and managing
our thinking and behavior or also to achieve our goals.

Emotional Intelligence consists of five components that Goleman (1995) describes, and these
are:

- Self awarness- is about the inner state, being emotionally aware. It thus means
acknowledging their feelings for themselves but also what they mean. It is important
to have correct self-assessment. Self-awareness is about knowing your strengths and
limitations as well as self-confidence. It's about strong self-esteem and capacity.
- Self-regulation- is about self-control and it means distancing oneself from
disturbing emotions and impulses. On the other hand, having a clear conscience is
about responsibility for personal performance. According to Goleman (1995),
adaptability means having flexibility in managing change and achieving innovation
which means convenience with new ideas, methods, and new information.
- Motivation- on the other hand, is about having a driving force where one strives to
improve or achieve the highest possible standard. Achieving commitment is about
being able to adapt the goals in a group or organization. Taking initiative means being
prepared to act on opportunities but also increase your optimism, which means
perseverance to be able to pursue goals despite obstacles and setbacks.
- Empathy – is about awareness of others' feelings, needs and problems.
- Social skill- is about having the skills to be able to handle relationships, develop
networks and find common ground.

Purpose over profit- Golden circle

Sinek (2009) who made the model "the golden circle" is about how entrepreneurs can inspire
collaboration, trust and change in a company based on his research on how the most
successful organizations think, act and communicate if they only start with the concept
"Why”. When people start their own business, they first think of profit, which is
inappropriate (Sinek, 2009). According to Sinek (2009), "purpose" is the key to today's
complex, volatile, ambiguous business world, where the strategy is constantly changing. The
purpose according to Sinek (2009) is who you are and what makes you distinct. Sinek (2009)
believes that the purpose is your brand, what the person is trying to achieve. "At the
organizational level, communicating your 'Why' is the basis for a strong value proposition
that will understand your brand from others" (Sinek, 2009).

Golden circle model:

What- involves formulating what the company or entrepreneur does. It can be what the
company offers, what product to sell or service they offer. According to Sinek (2009),
successful companies and people focus on why they do something rather than focusing on
what they do.
How- is about factors that include the company's strengths or values that they feel are
different from the competition. Sinek (2009) believes that "How" is a way of communicating
with the limbic brain, the important part that controls behavior and emotions. But this would
be further improved if organizations formulated their "why" in addition to "how".
Why- according to Sinek (2009), "Why" is the most important message that an organization
or entrepreneur can communicate because it is the concept of "why" that inspires others to
action. The term "why" is about the purpose and why you make a product or service. The

13
explanation for "Why" is the most decisive reason why a company succeeds, says Sinek
(2009). According to Sinek's (2009) theory, "why" is an effective way to succeed as an
entrepreneur and communicate with people by defining your specific value proposition and
inspiring them to act.

Summary
The reason that Gibb and Ritchie's (1982) theory have been chosen is because it describes
important factors that can be useful to know when starting a successful business. The author
chose this theory because it describes four basic components of success and these are idea,
market, motivation, determination, resources, and ability. All three theories that have been
chosen and can have something in common, such as Daniel Goleman's (1995) theory of
emotional intelligence where he describes that motivation is important because it is about
having a driving force where you strive to improve or achieve the highest possible standard.
Sinek's (2009) theory, on the other hand, is about the purpose and concept of "why". The
reason that Sinek's (2009) theory has been chosen is because it is about how entrepreneurs can
inspire collaboration, trust, and change in a company. These theories have been chosen and
are considered relevant to the purpose of the study and will be discussed in the discussion
section in more depth.

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5 PROBLEM FORMULATION
Starting your own business can be a challenge to know where to start and what it takes to
succeed. According to research today there are many people that are interested in starting
their own business, but they do not know where to start and what to think about to succeed
and become successful entrepreneurs. My observation of Sweden for example can be one of
the difficult countries to learn how to open your own business and what to think about.
Because Sweden is a country with many rules, and it takes a lot of work to learn what is
required of a person who wants to become self-employed. Starting a business is hard work,
requires a lot of determination and learning. According to some researchers there is many
businesses that fail. Starting your own business can be difficult and risky. Because this can
result in many companies failing and would give a negative image and prevent more people
from wanting to start their own. But why do they fail? Why does some startups succeed?
What is the key to a successful business? The reasons run deep, to be able to answer these
questions the author has chosen to go deeper in this matter.

The survey about entrepreneurs' experiences on how to start-up your own business and what
makes a business successful can therefore contribute to new knowledge and guide people
who want to start their own business and succeed. This study will hopefully inspire people to
become successful entrepreneurs.

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6 METHOD

Choice of method
This study has chosen a qualitative research method, which means that the study consists of
interviews and interpretive analyzes from collected data. This type of research method is used
to get an idea of a topic from the respondents' point of view. This is done with the help of
selected questions that are based on the study's purpose and question (Kvale & Brinkman,
2009). This research method has been chosen and is considered appropriate because the
purpose of the study is to examine the entrepreneur's experiences of how to start their own
company and what makes a company successful. According to Holloway & Wheeler (2010),
the basis of a qualitative research method is to gain a better understanding, descriptions and
experiences through social phenomena perceived by the study participants. This means that
qualitative research methods focus on individuals' feelings, behavior, and experiences.

The author has chosen semi-structured interview questions and realized that it is appropriate
because the order can be changed according to the respondents' needs. The reason why semi-
structured interviews were chosen was because they could be repeated or answered in
another question as well (Bryman, 2011).

Selection
Respondents who participated in this survey were entrepreneurs who were self-employed.
With the help of a snowball selection, the author obtained responses that were considered
relevant to the survey, which in this context were entrepreneurs who had started their own
company. Then the authors got hold of additional respondents to interview. Snowball
selection means that the researcher creates contact with respondents that are relevant to the
survey and then uses these to get in touch with additional respondents (Bryman, 2011).
One of the entrepreneurs were found and selected online on a website after a careful search
in the city of Västerås in Sweden. Unfortunately, I as the author could not visit these
companies physically due to the Corona virus situation. However, these entrepreneurs were
contacted digitally with the help of a call via mobile phone. The number was obtained by the
author through his website which they share with costumers. With the help of the interview,
the author was able to ask for permission to conduct interviews for a D-thesis and if the
entrepreneurs wanted to participate in the survey. After approval, the entrepreneurs were
asked if they wanted the interviews to take place digitally due to the Corona virus or through
a physical meeting if so desired. The author then compiled a missive letter (Appendix A) and
distributed it to the respondents via an email address. Each of these respondents was
interviewed digitally via an application called Skype. Two respondents were interviewed per
day, the reason for this was for the author to be able to be focused and be able to ask
questions in a calm and correct way. Two days after the first interviews, three more
respondents were interviewed.

It was a targeted selection that was made for this survey. A targeted selection of a qualitative
research means that the researcher chooses correspondents that are relevant for the
formulation of the problem (Bryman, 2011). Therefore, this study has been based on a
targeted selection and selected entrepreneurs who run their own businesses, which in this
case is relevant for the study purpose. In total, there were five respondents, two women and
three men between 22–30 who were approached by the author and who were willing to
participate in the study. The reason that only five interviewees were chosen was due to the
COVID-19 pandemic which made it difficult to get hold of different companies because most
declined the survey to protect themselves from the spread of COVID-19 and only five

16
interviewees chose to participate in the survey. These respondents had different lengths of
experience in business, between 2-5 years.

Data Collection
Before the interviews were conducted, the author began to compile a so-called interview
guide based on the purpose of the study to later be able to answer the research question. As
previously mentioned, a semi-structured interview guide has been created to make it easier
for both the author and the respondents to follow a common thread while the conversation
feels relaxed so that the interviewer can have the opportunity to ask questions if they appear
even if they are not in the interview guide. What is meant by a semi-structured interview is
that the conversations are conducted naturally as a normal conversation. But the way the
questions have been shaped in the interview guide is not a requirement and it is up to the
author how they should be shaped and when it is necessary to jump between these if
necessary (Bryman, 2011).

For the author to conduct the interviews in the best possible way, a pilot interview with an
outsider was tested to check that the interview met the time frame and to see if the author
can find any errors in the interview guide to correct them. The person who was pilot
interviewed was relevant to the interview questions and the pilot interview was done exactly
the day before the real interviews were to be conducted. After the pilot interview, there were
no adjustments because the author realized that the interview was relevant to this study.
The real interviews were conducted according to the predetermined design, which felt relaxed
and safe when the conversations took place. What happened during the conversations was
that sometimes certain questions were answered in another question, which means that the
author moved the answer directly to the relevant question.

The study interview guide consisted of two themes with five to sixteen questions under each
theme (Appendix B). The first five questions on the first themes were about the respondent in
general to get an idea of the respondent and easier to understand each other. The second
theme consisted of twenty-one questions that were directly related to the topic, these
questions also consisted of sub-questions to get a deeper understanding of the topic and
really get the study's research question answered and purpose answered.

The interviews took about six days to complete and each lasted between 30-40 minutes.
Immediately one day after the interviews, the author began transcribing the collected data.
The author began transcribing in the order in which the interviews took place. The reason
why the author started transcribing immediately after the interviews was because the
information should be fresh in the memory. The interviews were conducted digitally via an
application called Skype. The conversation took place in rooms where both the respondent
and the author were in their own rooms and therefore there were no disturbances. The
author sent a missive letter to the respondent before each interview and the reason for this
was for the respondent to receive information about how the interviews will go and be
recorded.

The reason why the author needs to record their voice is because the author needs to
remember and not miss anything important. Using a mobile phone of a pre-installed
application, the recording took place. These audio files were then transferred to a computer
and numbered from one to five, and the reason for this was for the author to be able to
distinguish between these respondents. At the end of each interview, the author checked that
the material had been recorded on the mobile phone without any problems. Once the audio
files had been transferred to the computer, they were deleted directly from the phone even
though the phone and the computer used for the purpose of the investigation had passwords
so that no one other than the author could access the information. The interviews were

17
conducted in Swedish as the respondents spoke Swedish. The author therefore chose to
conduct the interviews in Swedish to avoid misunderstandings as much as possible and to
have a deeper conversation without language problems arising.

Analyses
The data collection has been analyzed with the help of a qualitative content analysis. In this
way, the author has sought themes based on text obtained through the interviews (Bryman,
2011). What is meant by transcription is that the researcher writes down literally what has
been said during the conversations to get a correct result. But it is through a qualitative
content analysis that the researcher can analyze the material (Kvale & Brinkmann, 2014).
What is meant by a qualitative content analysis is that at the end of the transcribed material,
the researcher brings out various components and categories, which provides a clearer view
of the subject Kvale & Brinkmann, 2014).

A qualitative content analysis is a method used to systematically describe and analyze the
central content through a detailed and accurate reading of the text's parts, wholeness and the
context in which it was included. Why the quantitative content analysis was not chosen is
because the whole is not captured but only the sum of the parts. A content analysis as a
method for the author to be able to perform text analysis by systematically breaking down
and categorizing parts of a text content to answer the study's purpose and research question.
The approach to content analysis is not a ready-made template because content analyzes can
be used in various surveys and, for example, switch to other types of analyzes. This means
that each survey needs its own explanations. The qualitative content analysis aims to
systematically explain the meaning of qualitative data by step by step categorizing parts of a
material using a code schema (Kvale & Brinkmann, 2014).

Before the material for this study was transcribed and analyzed, the researcher began to read
the material a couple of times to get an overview and understand the context and see the
purpose of the study. The transcript for this study was a total of twenty-one pages with size
eleven and line spacing 1.5. For the researcher to be able to more easily distinguish between
the interviewees and keep the work confidential, they were numbered with the numbers one
to five. Then the researcher selected and shortened the material into several meaningful
units. This means that the external material and the text will be representative of the text's
content (Bryman, 2011). The step thereafter is called condensed units of meaning and this
means that the researcher in the study shortens the units of meaning to bring out the central
and to make it easier to get an overview.

Then the researcher has coded down the condensed sentence units to get the core and this
leads to the researcher identifying the content of the sentence and has shortened the
sentences to a few words. It is these codes that are decisive for the entire material but also the
purpose of the study and the research question. According to (Thoren-Jönsson, 2017; p. 225),
a code can be described as "a label on a sentence unit that briefly describes its content". After
analyzing the words that the researcher obtained in this study, they have been subcategorized
and categorized with a focus on a manifest perspective. What is meant by a manifest content
is that it is an analysis of the collected material that describes the obvious content of what the
interviewees have said during the conversations (Graneheim & Lundmann, 2004). The
reason why a latent content analysis was not chosen was because the author did not have
enough knowledge required to do so and therefore a manifest content was chosen. According
to Kvale & Brinkmann (2014), there is a risk of misinterpretation if the author is
inexperienced.

The researcher created codes from the interview material that showed an interpretive
meaning, and these codes were colored in different colors to be able to see the difference

18
 between them. This also facilitated the subcategorization of the codes. A subcategory has
more codes, which means that these have a similar content. The researcher did not exclude
any codes, but all were included in subcategories. The researcher colored the codes in the
same way as they were about the same subject, this also made it easier to subcategorize. With
the help of subcategories, categories were then created that answer the study's purpose and
research question.

Below is an example of a qualitative content analysis that the author obtained during the
analysis and there were five different categories "Motivation”, “Business idea”, “Quality",
“Knowledge” and “Planning". The author identified these categories, which were then
representative of the study's purpose and research question.

Table 1: Example of a content analysis

Unit of opinion Condensed Codes Subcategory Category

sentence units
“Everything I choose to Having passion Passion Never quitting
do comes from my heart; I and never give up Not giving up Have the will
only do that type of work even when it goes Patience
that I love to do. And bad sometimes is
because I love my work a way of success
and have passion for it I
never give up even when
Motivation
it goes bad for me
sometimes. I can only
succeed when I believe in
myself and don’t give up
no matter what”
“My business idea was to Something new Unique idea Something
bring something new and and special necessary and Business idea
special” needed
” I want my products to Products to be Original Quality
be original because as original because products development
you know there are many there many fake Quality
skin/hairs care shops that products
sell fake products”
“Make a deep research Make a deep Collecting Collect
about your idea and study research and studying information
it because when you have collect information and develop it
collected information information about
about your idea it will be your idea
an easy way to start your
Knowledge
business and even
develop it. In my opinion
I wouldn’t come so far
and succeed if it weren’t
because of a good
planning. Because a
good planning makes the
process of starting your
business much easier.”

19
“In my opinion I Because a good Essential tool Planning
wouldn’t come so far and planning makes for Organizing
succeed if it weren’t the process of entrepreneur Goals
because of a good starting a s Business Plan
planning. Because a business much
good planning makes the easier
process of starting your
business much easier.”

Quality Criteria
According to Bryman (2011), a qualitative research method should be based on four quality
criteria to increase the quality of the study results. These criteria are credibility, reliability,
transferability, and confirmability. The first is credibility and means how accurate and real
the material collected is in the study and the results. This criterion has been strengthened in
this study by the author constantly checking the interview questions, reading from the results
that it really describes what was meant for the purpose.

The second quality criterion is reliability and determines the extent to which the process is
logical and documented. This means the extent to which the results can be repeated and
create opportunities for other similar surveys (Bryman, 2011). The study has taken this
criterion into account by constantly striving for a clear research process. The author has tried
to describe the study process as detailed as possible.

Transferability means how the result can be applied in another environment (Bryman, 2011).
This criterion has been considered by the author writing a clear description of the method of
selection, data collection and analysis as it strengthens the transferability to another
environment.

Confirmability, on the other hand, means that the result should not be affected by the
researcher's own personal interests. Confirmability is about impartiality and neutrality in the
data material not with the researcher. This criterion has been considered in that the
researcher has only proceeded from relevant literature and theories during the study and the
interviews. As the transcript had used a manifest content analysis, this means that the text
was written down verbatim to avoid the researcher's own interpretations of the result
(Bryman, 2011).

Ethical considerations
Bryman (2011) writes that it is important that the researcher considers the ethical principles
of the participants during the process. These ethical principles are the information
requirement, the consent requirement, the confidentiality requirement, and the use
requirement.

The first is the information requirement, which is about the researcher informing the
participants of the purpose of the study and it is voluntary to participate and that they have
the right to drop out when they feel like it (Bryman, 2011). This requirement has been
considered by the author sending the information through a missive letter containing the
purpose of the study and a clear description of the information requirement. Then the author

20
also informed at the beginning of the interview as the interviews took place that participation
is voluntary and that they can cancel their participation in the survey at any time if they wish.

The second requirement is the consent requirement and means that the interviewees have
the freedom and decide whether they want to be included in the survey or not. The author
took this into account by collecting oral consent from the interviewees just before the
interviews were recorded. The most important thing was that the author sent the missive
letter to the interviewees so that they would understand what the study is about but also their
rights.

The confidentiality requirement, on the other hand, means that the researcher handles the
participant's information confidentially. This means that no other outsider may access the
information about the participants in any way (Bryman, 2011). This requirement was also
stated in the missive letter that was sent to the interviewees before the interviews took place.
The author of this study has taken this requirement into account by keeping all information
to himself until the study is approved and numbering the respondents' names instead of
writing their real names to keep the information confidential.

The use requirement is about the collected material that it may only be used for the purpose
of the study (Bryman, 2011). This study has only used the collected material for this survey
and the transcript and interviews will be deleted when the work is completed and approved.

21
7 RESULTS
This study has obtained a result using five different categories that emerged after the analysis
of the collected data. Categories that the author has developed answer the study's purpose
and research question. The purpose of the study was to investigate entrepreneurs'
experiences on how to start-up their own business and what makes a business successful. The
five categories that emerged during the analysis and which will be described in this section
are “Motivation”, ” Business idea”, “Quality”, “Knowledge” and “Planning”. These categories
have been divided into the results section as subheadings for a clearer understanding. The
author has picked up some quotes from the interviewees who participated in the survey to
reinforce the results and the categories that the author received. The author has removed
some words that are considered inappropriate in the context of the sentence and this has
been done by writing two square brackets and three dots […].

Table 2: Subcategory & Category

Subcategory Category
Never quitting Motivation
Have the will

Something necessary and needed. Business idea

Quality development Quality

Collect information and develop it. Knowledge

Make a business plan Business Plan

Motivation & Goals

7.1.2 Motivation
The interviewees show that "Motivation” has a strong connection to success in
entrepreneurship. Interviewees believe that you must have motivation to succeed as an
entrepreneur. The interviewees thus believe that motivation is the reason why you have
driving forces for an action or a behavior. Being motivated means that the person strives for
something that he or she believes will pay off and that will provide satisfaction. Motivation
according to the interviewees is the reason that you succeed as your own company because if
we only do something because it is a "must", you will not perform your job as you should. The
easiest way to start one’s own, according to the interviewees, is when the person has a highly
motivated behavior because then they are the most energetic, powerful, and determined
about how to proceed. The motivation according to the interviewees also increases a person’s
perseverance and helps not to give up easily and continue to fight until he or she is satisfied.

Interviewee 2

“Most importantly, believe in yourself and be motivated when you are going to start your
own business. Working for yourself self means implementing your goals and dreams. You
are motivated when you have dreams and wish to reach your goals”.

22
Above this paragraph is a quote that the author has chosen from the collected data. This
quote that the author took comes from an interviewer and says that it is significant that
people do what they love and have a passion for. The interviewee believes that if there is
motivation and the will to do something, even if things sometimes go badly for the company,
it is important to continue and not give up. Most interviewees mention that motivation
among entrepreneurs is crucial to get satisfied customers and a profitable company.
Interviewer one believes that no one and nothing can stop the development and success of
your company if you do your very best.

Interviewee 1

“Everything I choose to do comes from my heart; I only do that type of work that I love to
do. And because I love my work and have passion for it, I never give up even when it goes
bad for me sometimes. I can only succeed when I believe in myself and do not give up no
matter what. I tell myself I have goals that have to be done. When you do something
because you love and not only because you want money then everything is much easier and
that’s ‘one of the reasons why I succeed in my business”

Starting a successful business according to interviewees starts first and foremost from
motivation and then positive emotions. Entrepreneurs who have self-esteem and have the
courage will be able to get out of most of the challenges that come their way due to the
driving forces that the individual has. Interviewees say that it is individual about which
driving forces create motivation. According to interviewees, it is the individual's job to find
his or her own way to figure out what driving forces he or she has that create the motivation
to succeed and start their own business. The interviewees agreed that when the individual
finds the right emotions, they can be used to help the individual get started and start their
own.

Interviewee 2

“Don’t let a fool make you doubt about what you are trying to do and what you can or can’t
do. Because only you know what you are capable of and if you believe in yourself you can
do whatever you want. When you want to start your own business, you shouldn’t listen to
people who make you think negative or make you think that it is too hard to start your own
business and that you can’t make it. Ignore all of these negative thoughts because if you
want to success and become a successful entrepreneur you need to think positive, believe in
yourself and be motivated”.

What is meant by the quotes above is not to be influenced by the environment. The
environment should not say what a person is capable of or what a person can and cannot do.
It is important not to be influenced by negative thoughts from other people that lower a
person's motivation and beliefs. If there is motivation and the person believes in his or her
idea, he or she should start the process and start their own. To succeed, the person should
stick to positive people who think positively and motivate one to follow the idea they believe
in. In this way, the negative thoughts will be erased, and the person will not find it difficult to
start their own. Because then the person is away from negative thoughts and will instead
think positively and believe in themselves.

interviewee 4

“Factors that motivated me to start a business were the cool thing about being able to create
something myself, to challenge myself on a personal and professional level and that it is an
interesting job. Sometimes I got tired really tired that I had no motivation to keep going but
little by little I told myself to not give up and have endurance”.

23
What interviewees have also agreed on in this study is that sometimes, despite the
motivation, they do not reach their set goal and that is due to, for example, perseverance.
According to the interviewees, perseverance is when you can perform a mentally or physically
demanding activity for a long time without getting tired or having to give up and in this case
motivation. Interviewees thus believe that people who lack perseverance should probably be
the motivation factor supplemented, changed, or developed. Some of the interviewees said
that by working with motivation, you can influence how you act as a person, with what feeling
and strength and how long you can endure. It is individual how and where one motivates
oneself, but motivation and goals are important for achieving one's own well-being as well as
good results in working life and in this case as a self-employed person.

interviewee 3

“For me, self-confidence is important in the start-up along with self-insight. You need to
know what you can do and what you do better than others. It is important to find ways
around the problems and turn everything into the positive. The same applies if the company
receives negative feedback from outside.”

Perseverance has a strong connection to motivation, therefore a person who does not have
perseverance, his or her motivation may decrease and become less motivated. According to
interviewees, you cannot succeed in your company if you are not motivated, perseverance
and goals. Why perseverance is important is because if it happens that you do not achieve
your set goals, you should still have perseverance and believe in yourself even though it has
not gone as you intended, according to interviewees. To succeed as a self-employed person, it
is important not to give up because you love what you do, but it sometimes takes extra
patience to succeed and reach the set goals.

Business idea & Quality

7.2.1 Business Idea

Interviewee 5

“Your idea must be solving a problem that is important enough for your customer to buy it
and wanted. Your business idea is one of the most important factors to a successful
business. Because if your idea is good enough in your opinion and you believe it then this
way will be much easier for you to sell and scale in the next step”

Several interviewees mentioned that it is important for the individual to think carefully about
the business idea before starting his or her own. Because the business idea to be
implemented is the way to a successful company. According to interviewees entrepreneurs
who have thought through their business idea also find it easier to start their own because
they have thought through well about what idea they should have, which customers should
turn to the company, is the idea completely new? Or is it already on the market but needs to
be improved and developed? Interviewees claims that itis not about having a completely
unique idea that has never been tried on the market before. However, it can be a bad idea
because you then do not know if there is a demand for the product or service. Most
interviewees mentioned that most companies have copied business ideas that have already
worked in the market. Therefore, it is important that you as an entrepreneur can transform
the business idea and make it your own to succeed when you start your business. Usually it is
about some details you need to change to stand out and succeed with your product or service.

Interviewee 1

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"There are a lot of crises. You will come across people who do not like your idea, who think
you should take a regular job. It will be a lot of hassle along the way until you think through
a good business idea and really believe in it”

People look at the world around them in different ways and the key to creating such a
business idea is about particular way of thinking and looking at the world. The business idea
that is created is about entrepreneurs' way of collecting information and how it is interpreted.
This is directly linked to your inherent talents, according to interviewees. Some interviewees
even claimed that people have talents that are repetitive patterns of thoughts, feelings, and
behaviors that you can use constructively. When an individual thinks of his or her strongest
capability, he or she can find the ways to create a great business idea that people really want
and need. The interviewees said that each entrepreneur has his or her own special way of
seeing and interpreting the world and therefore people who want to become self-employed
need to experiment with their own way of "business thinking" to create a new vision. But this
will take time, it requires perseverance and motivation, according to most interviewees.

7.2.2 Quality

Interviewee 2

"I believe that quality will be totally crucial for organizations to succeed in the future, and
one of my goals is to offer my customers the best quality of the products I sell because I
want everything original and no fake products."

By quality, interviewees mean that customers are attracted by the products and services that
have good quality. People usually like the best product available on the market while selling
for a good price. Interviewees say that there are plenty of fake and non-original products sold
on the market today. This is counterproductive according to interviewees because you as an
entrepreneur deceive your customers and have a great chance of failing and losing your
customers. It is important to think about doing everything with good quality for a successful
entrepreneur to start his own business to satisfy his customers and gain their trust. According
to interviewees successful entrepreneurs start their own because they have a passion for it
and because they love to do something valuable for customers and not just think about
money, according to interviewees. Entrepreneurship is not just about money when it comes
to profit, it is about how well you treat your customers and how well you perform your job to
the best quality of your product or service. Interviewees believe that as long as you satisfy
your customers and invest in quality in what you do, it is a profit for you and your company.

Interviewee 4

“One of my strengths that has made me successful with my company is the quality I have of
my tools and machines. All my machines are advanced, and this is one of the reasons why I
attract my customers and capture their interest”

According to interviewee three, quality in organizations is a success factor and means that
people have over time had a shift where we have gone from a world that has often been based
on the seller's power to a world where the customer has taken overpower. Therefore, it is
necessary to continuously improve the goods and services offered. This leads to increased
customer value and satisfies as well as loyal customers. By creating high quality and value in
the goods and services, the entrepreneur has a greater chance of succeeding over his
competitors, according to interviewees. What was also mentioned by most interviewees was
that people usually think that quality is seen as a cost, so to get higher quality you need to pay
more. This is true from perhaps a momentary perspective, but from a holistic perspective it is

25
different. That is, an individual saves money if he / she buys something of good quality
because it will last longer. It is more efficient to buy something with good quality than to buy
something that is of low quality. The cheap and low-quality alternative becomes in many
cases very expensive because of all the side effects and associated costs that the quality
deficiencies lead to. The interviewees therefore believe that the cheap will not last long, which
means that you will have to buy again and spend more money on the low-quality.
Interviewees believe that good and sustainable finances are about investing in quality.

Knowledge & Planning

7.3.1 Knowledge

Interviewee 5

“[…] research a lot and study it, you need to know allot about the idea to be able to start up.
When I started my business, I search allot for information I wanted to know everything
about it because without information and knowledge it will be very hard to open your own
business”.

Knowledge was another concept that most interviewers mentioned and believed that
knowledge of how to start a business, about the product and marketing are important factor
in developing their company and succeeding as an entrepreneur. Entrepreneurs who want to
start their own need to have knowledge and information to know how to proceed. Despite the
fact that entrepreneurs are never fully trained, it is important that we constantly search for
information and increase our knowledge to go to the next level, according to the interviews.
Interview five states that knowledge and information are important components that
entrepreneurs can acquire based on their life experience, social network and search online
themselves. Knowledge and information in a certain industry according to the interviews
leads to easier to see its future potential and success. With the help of knowledge, people will
dare to start their own company and with the help of that knowledge, the person can succeed
over their competitors, interviewees say.

Interviewee 1

“[…] research a lot study it, you need to know allot about the idea to be able to start up.
When I started my business, I search allot for information I wanted to know everything
about it because without information and knowledge it will be hard to open your own
business”.

According to the interviewees, knowledge contributes to good advice for people who want to
start their own company in a more professional way. Knowledge is also a way for
entrepreneurs who later want to develop their company and reduce the risks of many
challenges that prevent starting their own business. Knowledge can be acquired everywhere,
therefore it is important to take advantage of all opportunities. It can be from the web, from a
neighbor, from a friend, from your family that turns out to be valuable information.
Interviewer two says that good relationships with former co-workers can give the contractor
access to important industry knowledge. Usually when the entrepreneur starts his / her own
company he / she gets a lot of valuable information from, for example, the banker and
accountant. This means that entrepreneurs need to search for and gather information in the
respective areas in order to be able to start and succeed more easily. Interviewees also say
that your customers and suppliers also carry valuable information about market demand and
can provide advice that can lead to higher efficiency and profitability. The interviewees
believe that the industry knowledge of entrepreneurs leads to him or her seeing the future
potential of the industry more easily. According to interviewees, it is important to seek and

26
gather information to feel to some extent confident in what the entrepreneur is doing and to
succeed.

7.3.2 Business Plan

Most interviewers agreed that it is useful to plan step by step the process of starting a
business. According to interview three, not having any kind of plan is the same as building a
house without a drawing. A planning should help the contractor to feel safe to a certain
extent. There are contractors who start their own, but it can take longer, and the construction
will most likely be unstable, according to the interviewees. According to the interviewees, it is
useful for a new beginner to make a plan that shows the whole process how the person who
wants to start their own business should proceed in order not to miss anything important
along the way. The interviewees believe that planning is an effective way to prepare for
starting your own business. Planning can help you through the whole process, such as
thinking long-term and staying motivated when it gets a little daunting. According to
interviewees, it is valuable to plan so that the entrepreneur notices if he or she will make
money. With the help of planning, entrepreneurs can also see strong and less strong sides,
therefore he or she will know what needs to be done at an early stage, according to
interviewees.

Interviewee 4

“The business plan was developed by specialized personal in marketing and business plan.
The business plan is essential for getting a good start and making your company more
efficient”

The easiest way to start your own business, according to interviewees, is to make a business
plan, which means that the contractor plans step by step the entire process. If entrepreneurs
do this, they will have much more knowledge, easier to start their own and succeed.
According to interviewees, planning helps to take into account small details and see your
company from a holistic perspective.

Interviewee 1

“The business plan has been important to me and always saw it as a document that in a
concrete way explained my business idea and showed how I should proceed. But with the
help of planning, I was able to know in which direction I want to lead the company and
how I should plan the financial part as a potential investor.”

A business plan also increases entrepreneurs' knowledge because the entrepreneur analyzes
each part of the business plan and needs to think through carefully to understand and know
what should be done and why. This means that the contractor must search for information
and read about it to be able to make the right decision about how the company should be
implemented, according to interviewees. According to the interviewee, a business plan is
something professional and everyone should consider succeeding and get through the
challenges that can arise in the simplest way.

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8 DISCUSSION
This chapter is called discussion and means that the author discusses the results of the study
in relation to previous research to gain a deeper understanding of the purpose of the study
which is "entrepreneurs' experiences on how to start-up your own business and what makes a
business / company successful". The author will also discuss the different parts of the method
to gain an increased understanding of the subject and the approach.

Result discussion
Below is a discussion of the purpose and issue that the author has chosen to investigate, these
are divided into five parts that the author received during the analysis.

8.1.1 Motivation
Entrepreneurs who participated in this study mention that starting their own business is
required first and foremost to have motivation. According to the participants, motivation is
needed both in the beginning when the individual starts and later for the development of his
company. This can be linked to Goleman's (1995) theory of emotional intelligence where he
describes five different components and one of them is motivation which is about having a
driving force where one strives to improve or achieve the highest possible standard.

It is necessary to believe in oneself, have the self-ability and the will to start something to be
able to continue all the way forward despite difficulties that may arise along the way. It is
important to know what motives drive a person's motivation, ie the reason why they want to
start their own business. According to Gibb & Ritchie's (1982) theory of entrepreneurial
success components, claiming that a successful company starts by thinking first and foremost
about what motives or commitments about why the person wants to start a business then
starts with other steps such as the idea. A connection that can be made to Olugbola's (2017)
study is that one of the motives for being able to start your own company is the desire for
independence. Why independence is a main motive is because it happens individuals who
want to be their own boss mean.

To be able to start their own company according to the participants in the study, the
individual first needs to find out the reason why they want to start their own company.
Because some people just want to start their own business to make money and think about
profit. This means that there is no interest or motivation to do something good for customers.
Not having motivation can lead to not doing something of good quality or satisfying
customers, which also increases the risk of failure due to the fact that the idea is only profit.
This can be linked to De Silva's (2010) study where he claims that people start their own
business due to two different motives and these are the push and pull motives. De Silva
(2010) believes that some people only have push motives, which means a certain behavior
where the individual is forced or must do something to achieve the goal. In this case, it can be
said that an individual who only thinks about money and profit when he / she starts his / her
own business is motivated by push motives. People who, on the other hand, are motivated by
the pull motives mean that they do it out of interest, they want to run their own business
because the individual feels drawn to it. De Silva (2010) believes that both push and pull
motives are necessary when a company is to be started and pull motives drive the company’s
growth.

A person who has motivation when they start their own company according to the
participants in this study is a person with the most energy and power and determination. The
participants thus believe that it will be easier and less risk of failure, people with high
motivation have a higher chance of success and development. The participants in the study

28
also showed that motivation can increase a person's endurance, which is positive as it helps
an individual not to give up and still have the will to continue fighting until he / she is
satisfied. A connection that can be made to the Clercq & Arenius (2006) study is that it
demonstrated that self-ability is important that a person has when they start a company
because it has a positive impact on a person's motivation and ability to perform newly started
activities such as for example, a new company.

8.1.2 Business idea

According to the participants, the current survey shows that a well-thought-out business idea
has a significant role in a successful company. Before he / she starts his / her own company,
it is important to think through his / her business idea because, according to the participants,
it is the business idea that highlights the company's strengths and what makes that company
special. A well-thought-out business idea increases the possibility of succeeding with your
company because it means that the person has thought through about what is to be sold and
how and to whom. It is important to think about whether the person chooses something
completely unique that has not been on the market before or if the business idea is already on
the market but needs to be developed or improved. According to Ryan (2014) a business idea
is the basis for a company with a vision of a service or product that others will benefit from
but also the basis for profit in a company. But what the participants agreed on was that the
business idea does not have to be unique that has not existed before in the market or that has
never been tried before, but it can be about a small detail that needs to be improved or
developed to succeed as a successful entrepreneur.

Ryan (2014) believes that the business idea is what highlights the customer benefit, it is
where the person needs to think about, what the customer needs and wants. It is important to
analyze your business idea carefully to satisfy that they are the ones who need to buy your
business idea. The participants in the current survey also believe that it is important to state
how much the customer will save or earn from using your product / service. Therefore, it is
important to have a well-thought-out business idea because if the business idea does not
attract the customer, there is a great risk that you as an entrepreneur will fail.

This can be linked to Gibb & Ritchie's (1982) theory which writes about the importance of a
business idea, Gibb & Ritchie (1982) also mention that the business idea must be attractive
and be the reason for customer satisfaction and interest. This means that customer
relationships are the most important thing to keep in mind when choosing your business
idea. According to the participants in the current survey, it is important to start from the
customer's perspective and thus try to continuously improve their product to maintain the
number of satisfied customers. This can be explained as the customer becoming the "boss"
because everything you do as a company must really be according to the customer's ability
and will. Because if your product or service is not attracted by customers then the
entrepreneur has lost his role in the market because if people do not buy your goods or
services, it means that the whole company must be wound up because no one wants to buy
what you offer.

According to the participants in this study, entrepreneurs should take a stand on a number of
issues which, for example, are about finding out the strengths and weaknesses of the product
or service and what opportunities and threats the product may experience. In this way, you as
an entrepreneur have developed your business idea and increased the chance of the company
to be started.

8.1.3 Quality
All interviewees have stated that quality is important for successful companies, it is about
doing something that is of high quality. Because according to the interviewees, people are
attracted to products or services that have good quality. Interviewees mention that today
there are a lot of competitors and many companies that sell products that are not of good
quality. It is therefore important when starting a business to think about the quality of the

29
product or service to be sold, because people want the best product available on the market
while selling at a good price. According to Forker, Vickery & Droge (1996) study
entrepreneurs who invest in product quality increase market share, lower production costs,
and improve productivity as well as increase profits.

The interviewees also mention that people who want to be successful and success in their
business are due to the fact that they have a passion for becoming entrepreneurs who create
something valuable based on their customers' needs. This means that successful
entrepreneurs are the ones who do something for the sake of customers, not just for profit.

According to interviewees, entrepreneurship is not just about profit, but it is about the
purpose of why you want to create a particular product. This can be linked to Sinek's (2009)
theory "purpose over profit" which is about the entrepreneur's purpose, according to Sinek
(2009) the purpose explains who you are and what makes you distinct, it means that the
purpose becomes your product and brand. The purpose will show what the entrepreneur
wants to achieve, what the meaning of the company is. People who want to start their own
business, it is important to think about, for example, why a certain product should be sold
and what the purpose of this product is. Sinek (2009) believes that entrepreneurs who start
with the concept of "why" are the key to a successful company. This means that when a
person has chosen a certain product of good quality, it is important to start explaining why
that particular product, in this way the entrepreneur will understand how they think, act and
communicate if they start with the concept of "why" in everything they do during starting a
business but also later when they want to develop their business.

Sinek's (2009) theory also includes the term "What" which means what the company does for
product or service, but Sinek (2009) claims that successful people focus more on why they
make a certain product instead of what they do. This can be linked to the current survey
because interviewees mention that quality is an important factor in successful companies,
therefore companies that have good quality explain why their product is better than other
competitors. Interviewees thus believe that it is not about what you do but why you do it and
why it is better than other competitors.

All interviewees have also stated that the reason why the cheap products will not last long is
because the person will have to buy again and invest more money in low quality because that
product breaks down faster. What all participants agreed on was that good and sustainable
finances are about investing in good quality. High quality in the products and services
increases the chance of a successful business and will succeed over its competitors. This can
be linked to Forker, Vickery & Droge (1996) study that good quality helps the entrepreneur to
get satisfied customers about what they need and ask for.

8.1.4 Knowledge
According to the participants in this survey, knowledge is a decisive factor in being able to
start your own business effectively. Interviewees believe that reading a little and gathering
information and knowledge can be very helpful in learning about the product to be made and
sold as well as the market and its competitors. The more knowledge and information, the
better and easier it will be to start your own company and succeed as an entrepreneur. This
can be linked to the study Olugbola (2017) because he also claimed that knowledge and
information about entrepreneurship is important and has a great impact on succeeding as an
entrepreneur and becoming a successful company.

The person who wants to start their own business, it is important to find out first and
foremost some information about the different types of companies that exist today.
According to Hannah & Kasuya (2016), there are different types of companies and therefore
it is important to find out what the different types mean in order to later choose the right type
when the person starts their own company. People who have gathered information will be

30
able to see their company more in a long-term perspective and more easily make important
decisions.

What most interviewees agreed on in this study regarding knowledge was that people who
want to start their own business do not need to be trained in entrepreneurship to succeed as
self-employed. However, reading and searching for information and constantly increasing
knowledge before he / she starts his / her own company is a decisive factor for successful
entrepreneurs. One theory that can be linked to this is Gibb & Ritchie's (1982) theory of
components for entrepreneurial success. Gibb & Ritchie (1982) write that education,
knowledge or experience are important factors and often one of the big reasons that
entrepreneurs are inspired and discover new ideas and solutions to various problems that
may arise during the start-up of a company. Gibb & Ritchie (1982) believe that knowledge is a
crucial factor in succeeding and becoming successful.

All interviewees have clearly stated that knowledge contributes to good advice for people who
want to start their own business efficiently and in a professional way. Knowledge is needed
throughout the process when starting a business because knowledge also helps to develop
and improve its business and reduce the risks of many challenges that would arise or prevent
a person from starting their own business. Clercq & Arenius' (2006) study shows that factors
based on knowledge and information have a strong influence on the decision to start your
own business and succeed. According to Clercq & Arenius (2006) a person's knowledge base
thus the individual's perceived level of specific skills has a positive relationship to successful
start-ups as well as the external knowledge, ie personally know an entrepreneur or have a
certain type of experience or knowledge.

8.1.5 Business Plan

Interviewees in this study claim that the use of a business plan is valuable and useful for
people who are beginners and want to start their own business. A business plan is useful
because it helps the entrepreneur to step by step plan their process when starting their own
business. It is difficult to start your own business if there is no clear plan to show where the
person should start with and without a clear planning, the entrepreneur may feel lost. This
can be related to Kalrsson & Honig (2009) study where they claim that a business plan is the
key to successful preparation regardless of which company it is about. Karlsson & Honig
(2009) also write that new companies often fail because they lack an effective business plan,
which explains how important it is to have a business plan when starting a new company.

Why a business plan is necessary according to interviewees is because a business plan is like a
map that clearly shows the entrepreneur how the company should achieve its goals. It thus
helps the entrepreneur to plan and think long-term when they start the company, it can also
increase the entrepreneur's motivation when it becomes difficult. A structured business plan
makes it easier for the entrepreneur to plan his idea carefully, marketing plan, finances,
competitors and risks as well as challenges that may arise along the way. Harris (2018) also
claims that most companies fail due to poor appreciation of what is involved in starting a
business and in this case, it can be about poor planning, but also poor understanding of what
customers really want.

All interviewees have stated that entrepreneurs need to make a business plan to also see the
company's strengths and weaknesses in order to start solving it at an early stage. A business
plan is not an unnecessary job, but it is a great help to the entrepreneur to challenge himself
and think about his company in detail to find out why he / she does the way they do, what
they want to achieve, what is important and what is not. It is as if you are asking yourself
questions and answering them to get confirmation of how and why and what has been done.
A business plan is not only for the entrepreneurs who want what he / she should think when
they start but it is useful for the development process also for success in the future.

31
Mengel & Wounters (2015) have written in their study that financial planning and control has
a positive function and benefits both small and large companies to reduce uncertainty and
limited resources. What is clearly visible is that most studies have come to similar
conclusions when it comes to creating a business plan to succeed and become a successful
entrepreneur. All interviewees have also had similar conclusions that a business plan is a
decisive factor for a successful project and facilitates the entire process when a company is
started. Gibb & Ritchie (1982) have explained with their theory that a successful company is
about applying good planning and following it in full operation to succeed.

Method discussion

8.1.1 Qualitative method

The author chose a qualitative method and considered it relevant for the purpose of the
study, which is "entrepreneurs' experiences on how to start-up your own business and what
makes a business / company successful". As the qualitative method is about the author
understanding the subject in question (Bryman, 2011), it was considered adaptive because
the author wants to examine the respondents' experiences regarding how to start their own
business and what makes a company successful. What can be a disadvantage of the
qualitative method is that it belongs to the subjective species, it means that the author
chooses what should be in the study and this can have a certain impact on the result
(Bryman, 2011). The author has taken this into account and has been aware of the
importance of subjectivity and its impact on the result so as not to affect the results of the
study. The qualitative method according to Bryman (2011) involves words and understanding
of social reality. The qualitative method does not focus on numbers like the quantitative
method, but the focus is on understanding based on the individuals' own experiences. The
author therefore considered this method to be adaptable in order to gain an understanding
based on the respondents' views on how to start their own business and what makes a
company successful.

With the help of semi-structured interview questions, the author got answers to the purpose
of the study. The empirical material collected also provided a good basis for answering the
study's research question. The reason why the author chose semi-structured interviews was
to have the opportunity to ask follow-up questions to gain a deeper understanding of the
phenomenon being studied (Kvale & Brinkmann, 2014).

8.1.2 Selection discussion

The sample for this study was entrepreneurs who have started their own company. The
author got hold of three men and two women who were between the ages of 22 and 30 in
Västerås. The reason why entrepreneurs have been chosen is for them to share their
experiences and knowledge with the new entrepreneurs who want to succeed but also those
who are interested in starting their own. The result would have looked different if the author,
for example, chose companies that have gone bankrupt and failed. Because the author
focuses on how to start your own business and succeed in becoming a successful company.
There is a big difference between these two groups and since the purpose of this study was to
investigate 'entrepreneurs' experiences on how to start-up your own business and what
makes a business / company successful, the author realized that this selection was relevant
and suitable for the purpose of the study. .

A total of five interviewees participated in the survey, but the author tried to find more
entrepreneurs who could participate, but unfortunately most declined due to Coronavirus.
The snowball selection made it easier for the author to find additional respondents (Bryman,
2011). This was an advantage as the author is able to maintain neutrality and objectivity

32
because interviewees have not been chosen by the author himself who can influence the
result in any way. But if the people had been chosen that the author found interesting, it
would have affected the result and it would have looked different. A weakness could be that
the author did not get more interviewees to increase the credibility more in the study. The
reason why most people declined to participate was because of their fear and anxiety about
the Corona virus. Although they were offered to participate digitally, some declined because it
was an intense and stressful period for them.

What may have affected the results somewhat is that the interviewees were more men than
women, so it was unevenly distributed because there were two women and three men who
participated in the survey. It would have been set up if it were an even number, but this does
not mean that the result would have been seen differently in the study. The author can
conclude that the uneven gender distribution cannot be generalized as there is an imbalance
in the sample. Since the sample consisted of five participants in the survey, the author cannot
conclude that the entrepreneurs' opinions can be applied throughout Sweden but only in
Västerås, where the survey was conducted. According to Bryman (2011), a small group as a
sample cannot generalize the result to other environments. Although the selection was on a
smaller scale, the author considered it an advantage as the study still has some information
that can be useful for many people to know where to start when they start their own and
succeed.

8.1.3 Discussion of data collection

The author realized that the choice of semi-structured interviews was an opportunity to
ensure that he understood the interviewee correctly and to reduce the risk of
misinterpretation of the answers. The order of the questions is flexible, and it also gives the
author the opportunity to ask follow-up questions to get detailed answers as much as
possible. One difficulty that could arise according to the author was the transcription and
when the interviews took place because it takes a lot of the author to be focused and interpret
the sentences exactly as said and analyze them to get relevant subcategories and categories.
Bryman (2011) believes that semi-structured interviews mean that the interviewee can talk
freely and answer the questions. But this also meant that they sometimes left out the subject
that felt irrelevant to the purpose of the study. The author could prevent the interviewee from
irrelevant answers during the conversation and return to the common thread, but in this case
the author would not want to destroy the nature of the semi-structured interview. Because
this would create discomfort for the interviewees, and it would prevent them from
responding in detail.

The recording during the conversations can be perceived as frightening or unpleasant

because the idea arises that their words and voice will be saved and used (Bryman, 2011).
This may also be one of the reasons why some did not want to participate in the survey. It
may also be because the interviews were conducted during working hours, so they may have
been busy at work and therefore could not show up.

The length between the interviews varied between 30-40 minutes. According to Bryman
(2011), shorter interviews do not have to mean poorer quality, but even short interviews can
provide concrete and important information. The important thing is that all questions from
the interview guide are answered by the interviewees and even if it is within a short time. The
author does not feel anything is lacking in this and considers that he has received good
answers from the interviewees. However, the risk was that the author would have a reduced
drive because more interviews were conducted on the same day. To avoid this occurring, the
author took a break between 20-30 minutes to recover and regain energy.

8.1.4 Analysis discussion

The author analyzed the study through a qualitative content analysis, which means that the
interviews are transcribed verbatim to make everything down and easier to see what the
interviewees have said. Since the content analysis determines the entire result, it is important

33
that the author is careful when interpreting and analyzing the material. This part, according
to the author, is sensitive because it is about presenting the right message and the core of all
interviews. It is thus about being accurate and focused and the author did this by listening to
the recording several times that the interviewees produced during the conversations to
interpret the material correctly and gain an in-depth understanding.

The analysis was started immediately after transcription because the information is fresh in
the memory but also to reduce the time required. The interviews were fresh in the memory
because the author started with the data collection for a relatively short time, this made it
easier for the author to transcribe because certain sentences were in the author's memory.
This means efficiency in transcription which in turn better understanding the interviewers'
answers. The content analysis is like a small conclusion for the entire study because the
content analysis is an opportunity for the quality of the study so as not to fall outside the
main point of the work. A content analysis also makes it easier for the author to see the
results of the study more simply and clearly

The survey used a manifest content analysis and involved describing the obvious from the
text (Lundman & Granheim, 2017). This means that the author in this study looks verbatim
at what the interviewees said. The reason why the author did not choose a latent content
analysis was because it did not feel relevant to read between the lines (Lundman &
Granheim, 2017). In this way, distortions in what the interviewees said are reduced, but the
demands on the respondents' analytical ability are also reduced. The author realized that a
manifest content analysis was relevant for this study because the author lacked experience for
the latent content analysis and according to Kvale & Brinkmann (2014) there is a risk of
misinterpretations if the author is inexperienced.

The author transcribed the interviews one day after each interview was conducted and the
reason for this is that it should be fresh in the memory and able to effectively analyze. At the
end of the transcript, he questioned whether the material was relevant to the purpose of the
study. Then sentence units were selected and coded. The author was given three categories
when the content analysis was completed, and these categories answered the purpose. It is
with the help of the content analysis that makes it easier for the author to structure the
material and get what is really in demand for the purpose.

8.1.5 Discussion of quality criteria

In the study, the author has addressed four different quality criteria for this work, and these
are credibility, reliability, transferability, and confirmability (Bryman, 2011).

The author has strengthened the credibility criteria in this study by constantly thinking about
the purpose and research question and check it to not lose track of what is to be investigated.
The author also reformulated his questions, which sometimes felt unclear during the
interviews. Therefore, affirmative reformulated questions were asked for interviewees to
understand.

Transferability is a more difficult criterion that the author has tried to consider by clearly
describing a selection, data collection and analysis. Because according to Bryman (2011) it
strengthens the transferability to another environment. The transferability in the results
section may have been limited due to the number of interviewees being few. The more
interviewees, the more secure the result will be transferable.

The reliability, on the other hand, has been considered by the author describing the research
process carefully, it gives an understanding of how the conclusions have developed. Another
reason is that the author is based on reviewed scientific articles and credible statistics that
increase reliability.

34
Confirmability was considered by the author keeping the study objective and during the
interviews maintained a neutral facial expression to avoid that interviewees are affected in
any way that in turn can affect the result.

8.1.6 Ethics discussion

This study has been based on the four research ethics principles. One of them is information
requirements that the author distributed to interviewees through a missive letter (Appendix
A) but also orally. The missive letter contained information regarding the purpose of the
survey, how the interviews will be conducted and what rights the interviewee has.

The author considered the consent requirement when the participants agreed orally during
the recording that they want to participate in the survey and therefore no written consent
took place when the author felt that it was not necessary.

The confidentiality requirement means that all information regarding the participant must be
handled confidentially (Bryman, 2011). This requirement was met by keeping the
interviewees anonymous and designated as IP1, IP2, IP3, IP4, IP5. In this way, the risk that
the interviewees could be identified was reduced.

35
9 CONCLUSIONS
Entrepreneurs' experience of how to start a business and what makes a company successful
mention five important categories that they consider important for a new beginner who
wants to start their own business and succeed with it. The five categories are "Motivation"
which according to entrepreneurs' experience is important to have throughout the process
when starting a business. The second category is "Business idea" which is also a crucial factor
to think about thoroughly before the person decides to start their business. "Quality" is the
third category which, according to contractors' experience, is important to think about in
order to impress both customers and defeat their competitors. Next comes "Knowledge"
which is considered valuable to increase their knowledge of competitors and of the product
itself to be manufactured or the service. "Business plan" is the last category that almost all
entrepreneurs agreed that it is very useful to use to facilitate the process and make it easier to
follow their goals. In summary, these categories show the way on how a person should start
their own business and what people need to think about and emphasize in order to succeed
and be successful.

Suggestions for further Research

The present study has addressed factors that may be important to take into account when an
individual wants to know how to start their own business and succeed and become successful.
This research is for new entrepreneurs who want to start their own business and as more and
more companies fail, it can be interesting to develop a similar study. The selection can be a
well-known company such as Apple. It would be interesting to gain a deeper understanding
of what their perspective on a successful business is and how to expand their business
worldwide. It would also be interesting to further research two similar companies from
different countries to find out the differences and similarities about what applies to the
success of their company.

36
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APPENDIX A
Interview guide – semi structured interview

Briefly about the interviewee

1- Age of the interviewee?
- Answer
2- Do you have an education?
Answer:
3- Do you have previous experience in the industry?
Answer:
4- Do you have previous experience as an entrepreneur?
Answer:
5- Do you have one or more companies?
Answer:

Company
6- What form of company have you chosen and why? Did you know of other forms of
business? Did you want a different form today? If so, Why?
- Private business
- Limited company
- Trading company or limited partnership
- Economic Association
- Non-profit association
Answer:

7- What year did you start the company? Why did you choose this business? What
motivated you? Alone or with the help of someone else? Has it evolved since then?
Answer:

8- What was your business idea? How did you discover the idea? Who / what was your
inspiration?
Answer:

- Which target group can turn to your company?

Answer:

- What does the company offer in the form of customer offers? Services, products,
systems of services?
Answer:

9- Did you have a business plan? (A business plan describes the business' goals and how
the business idea is to be implemented. Broadly speaking, a business plan contains a
description of the business idea, what the market looks like, as well as budget and
calculations. Making a business plan is an opportunity to really think through the
business idea to see what can be improved)
- If yes, describe what your business plan consists of and if you received help with the
business plan to develop it?
Answer:
Do you think that a business plan is important to have when starting a business?
Answer:

39
 How did the process go before you learned how to open the company? That is, how
did you plan step by step?
Answer:

10- What are the risks and how do you deal with them?
Answer:
- Do you consider your business to be successful? How do you see the future?
Answer:

11- Who handles the administration? For example, accounting, invoicing, VAT
accounting, budgeting, insurance and purchasing.
Answer:

12- How do you consider the competitors?

Answer:

13- What are the strengths of your company?

Answer:

14- What are the weaknesses? What could have been done differently?
Answer:
15- What opportunities may arise for your company in the future?
Answer:
16- What threats can arise and create difficulties for your company in the future?
Answer:

17- Do you recommend other people to become self-employed/ their own business? Why
yes/no?
Answer:

18- What tips do you give people who want to open their own business in general?
Answer:

- What do entrepreneurs need to think about at the beginning of starting their own
business and after they have started up to succeed?
Answer:

19- Should entrepreneurs have some personal qualities? Be in a specific way to succeed
as an entrepreneur?
Answer:

20-Write three keywords that are the way to a successful business, and three keywords
that an entrepreneur should keep in mind when starting their own business.
Answer:

21- Do you want to add something more?

40
APPENDIX B

Missivbrev
School of Health, Care and Social Welfare

Hej! jag mitt namn är Nergiz Fatah och läser ett mastersprogram som kallas för
Arbetslivsvetenskap inom hälsa och välfärd. Det är min sista termin på Mälardalens högskola
i Västerås och skriver mitt examensarbete som är på avancerad nivå. Syftet med denna studie
är entreprenörers erfarenhet om hur man startar eget företag samt vad som gör ett företag
framgångsrik. För att kunna utföra detta arbete behöver jag intervjupersoner som kan ta del av
deras erfarenheter och kunskaper om ämnet och vilken typ av rådgivning som ges för att
kunna gå tillväga och starta eget. Intervjuerna sker individuellt antingen via träff eller digitalt.
Intervjuerna kommer att pågå under cirka 30–40 minuter beroende på svaren författaren får.
Intervjuerna kommer att spelas in som en ljudfil på mobiltelefonen. Anledningen till detta är
för att det ska bli lättare för författaren att komma ihåg vid transkriberingen och
bearbetningen av materialet. Svaren författaren får av er som intervjupersoner kommer att
analyseras och utgöra studiens resultat.

Det är betydelsefullt att du som är intervjuperson får veta att alla dina uppgifter och
information kommer att behandlas konfidentiellt, vilket betyder att ingen annan person får ha
tillgång till materialet förutom författaren och min handledare. Den får alltså endast användas
för denna studie och syfte. Deltagandet för denna undersökning är frivilligt det betyder att du
som intervjuperson kan när som helst välja att avbryta din medverkan i studien. Studien
kommer vara klar i juni 2020 och den kommer att publiceras i databasen Diva på Mälardalens
högskola. Har du frågor eller funderingar kontakta gärna mig eller min handledare.

Kontaktuppgifter:
Författare: Nergiz Fatah
Mail: Nfh16001@student.mdh.se
Mobilnummer: 0760562504
Handledare: Mohammadrafi Mahmoodian
Mail: Mohammadrafi.mahmoodian@mdh.se
Med vänliga hälsningar
Nergiz Fatah
Box 883, 721 23 Västerås Tfn: 021-10 13 00