We have examined change management guidelines and company success and failure but we have not looked at motivational success factors for small business entrepreneurs. Elizabeth Walker and Alan Brown (2004: 577) in an early study on small business motivations based in Australia (290 small business owner-managers in Western Australia were surveyed) found that:

Financial criteria are usually considered to be the most appropriate measure of business success, yet many small business owners are motivated to start a business on the basis of lifestyle or personal factors ... Findings suggest that both financial and non-financial lifestyle criteria are used to judge business success, with the latter being more important. Personal satisfaction and achievement, pride in the job and a flexible lifestyle are generally valued higher than wealth creation.

Split the class into groups; each group should discuss what factors would be important to them if they decided to launch their own business. Compile these factors in a list dividing them into financial and non-financial criteria. Be prepared to present, explain and discuss your findings in an open forum discussion at the end of the session. If there are disagreements among members of the group these can also be raised and discussed in the open forum.