PROFILE OF THE MOST

SUCCESSFUL
ENTREPRENEURS IN SINALOA
STATE

Alejandro Domínguez-Pacheco
University of Phoenix
 Problem Statement
 The general problem is the lack of entrepreneurs in
Sinaloa State to generate wealth as quickly as the
population grows (Vizcarra, 2006).
 To acquire or develop entrepreneurial
characteristics, people who want to succeed as
entrepreneurs must first know what specific
characteristics they need to develop and how to
acquire them.
 The aim of this research was to identify the
characteristics of the most successful entrepreneurs.
 Support for Problem Statement
 As entrepreneurship improves and spreads wealth,
creating and expanding ventures are the best ways
to improve economic quality of living for low-income
people in Sinaloa (Esquer, 2008; Khalil, 2006; Nickels, McHugh, &
McHugh, 2005).
 No economic research could be found on
entrepreneurs in the state of Sinaloa.
 The perspective of this study highlights the individual
characteristics of entrepreneurs. This perspective
excludes sociological and institutional view.
 Purpose Statement
 The purpose of this study was to determine the
important entrepreneurial characteristics that
allowed the most successful entrepreneurs in
Sinaloa State to build up their companies.
 The study explored three main aspects of
entrepreneurial personal characteristics that the
literature review reported: management skills,
innovative abilities and ethical behavior (Drucker,
1985; Grau, & Sotomayor, 2008; Hisrich et al., 2008; Timmons, &
Spinelli, 2004).
 Significance of Study/Leadership
 Entrepreneurs are the first and most important
leaders in organizations (Cherem, 2008; Rhodes &
Donnelly-Cox, 2008).
 Entrepreneurs are a scarce resource in México
(Tirado, 2006).
 The study is important for Sinaloa State, as a
concrete way to the increase entrepreneurship.
 The design of the study allows its reproduction in
other areas, especially throughout México
 Research Question(s)
 What personal characteristics enable
the most successful entrepreneurs in
Sinaloa to succeed?
 Relevant/Important Research on
your Topic
 To look for a common profile of most
successful entrepreneurs in Sinaloa
State.
 Entrepreneurship growing in two
directions, ability to manage a firm and
capacity to innovate and take risks (Grau &
Sotomayor, 2008).

 The role that ethics play in

entrepreneurial success.
 Methodology
 The Delphi Method used the following phases
suggested for Skulmoski, Hartman and Krahn
(2007):
1. Buildup of the Research Question: literature
review.
2. Selection of the research participants.
3. Development of 1st questionnaire (open-ended
questions).
4. Application and analysis of the 1st
questionnaire.
 Methodology
5. Development of a 2nd questionnaire. Designed
based on the tendencies found in the first
questionnaire (Likert-type scale).
6. Analysis of the 2nd answers.
7. Development of the 3rd questionnaire. To
confirm the tendencies in 2nd round (Likert-type
scale).
8. Final round of analysis.
Population Under Investigation
 40 most successful entrepreneurs
in Sinaloa State taken from a list
published in Bien Informado in
September 2009.
 All of them are male.
 Sample Population Used
 The sample was 12 participants.
 The researcher invited directly the
panelist in a telephone call.
 The aim was to work with the first
people in the list. When some person
could not be found, the next person on
the list was invited and so on
 Diverse industries. Between 45-75 old.
 Results

 1st round: 75 opinions, which fitted in 16

different personal characteristics.
 2nd round ranked these characteristics in
the whole entrepreneur group.
 3rd round auto-ranked these
characteristics.
 Analysis

 Three personal characteristics did not

appear in the literature review:
•Capacity of effort.
•High emotional intelligence
•Reject pretentiousness.
 Conclusions
 The present study concludes that,
according with the responses of the
sample, a profile of the most
successful entrepreneurs in Sinaloa
State could be build up.
 This profile could be a useful tool to
develop an educative plan to promote
new entrepreneurs.
 Limitations/Delimitations

 The study researched only their

personal characteristics. Other factors
that could help them to succeed were
not studied:
 Previous personal or familiar power.
 Family relations
 Support from the government

 The study is limited to Sinaloa State

 Recommendations
 Participant entrepreneurs: to improve
their characteristics with lower grades.
 Business schools: to focus their efforts:
 1st in emotional and social abilities,
 After in intellectual abilities (Bennis &
O'Toole, 2005; Ghoshal, 2005).

 Educators in Sinaloa: use the profile to

generate futures entrepreneurs.
 Recommendations for Future
Studies
 To determine the profile in other states
of Mexico, and the profile of the
entrepreneurs in the whole country.
 To study the profile of other
entrepreneurs in Sinaloa, now and after.
 References
Bennis, W. G., & O'Toole, J. (2005). How business schools lost their way. Harvard Business Review, 83 (5), 96–104.
Cherem, S. (2008). Al grano. Vida y visión de los fundadores de Bimbo. [To the grain. Life and vision of Bimbo’s
founders]. México, D.F.: Khalida editors.
Drucker, P. (1985). Innovation and entrepreneurship. New York, NY: Harper Business.
Esquer, S. (2008). El reto: Ser más competitivo. [The challenge: To be more competitive]. In Carrillo, A. (2008).
Avanza Sinaloa 5 lugares en competitividad. [Sinaloa increases its competitively 5 places], Bien Informado,
290, 70–80.
Ghoshal, S (2005). Bad management theories are destroying good management practices. Academy of Management
Learning & Education, 4(1), 75–91.
Grau, J., & Sotomayor, J. M. (2008). Emprender o dirigir. [To instigate or to manage]. México, D. F.: Panorama
editorial.
Hisrich, R., Peters, M., & Shepherd, D. (2008). Entrepreneurship. (7th ed.). New York, NY: McGraw Hill.
Khalil, E. (2006). Entrepreneurship and economic theory. Munich Personal RePEc Archive, Paper No. 501. Retrieved
from http://mpra.ub.uni-muenchen.de/501/
Nickels, W, McHugh, J., & McHugh, S. (2005). Understanding business. (7th ed.). New York, NY: McGraw Hill
electronic version.
Rhodes, M. L., & Donnelly-Cox, G. (2008). Social entrepreneurship as a performance landscape: The case of “front
line.” Emergence: Complexity & Organization, 10(3), 35-50.
Timmons, J., & Spinelli, S. (2004). New venture creation: Entrepreneurship for the 21st Century. New York: McGraw-
Hill electronic book.
Tirado, R. (2006). El poder en las cámaras industriales de México. [The power of industrial chambers in Mexico]. Foro
Internacional 184, (2), 197-226. Retrieved from http://revistas.colmex.mx/revistas/7/art_7_1146_8735.pdf
Vizcarra, J. (2006). Sinaloa necesita mejores empleos y mejor pagados [Sinaloa needs better employments and
higher paid]. Noroeste. Retrieved from http://www.noroeste.com