Kissing Frogs: An Entrepreneurial Formula for Success in the USA and Ireland

Kissing Frogs in Ireland: “The challenges of becoming a successful entrepreneur” compares the difficulties of creating, sustaining and succeeding as a business owner in Ireland and the United States. The methodology for this primary research paper compares a 2019 study from the USA, with a similar 2023 survey implemented as part of a Fulbright Scholarship in Ireland. The surveys were completed using Qualtrics™, a global research organization. The respondents represented 42 states in the United States and 24 counties in Ireland. The recruited respondents were from a diverse group of self-identified entrepreneurs from a variety of industries. To summarize, the paper will analyze the following topics in detail: i) The demographic and educational characteristics of both countries, ii) The motivation for starting the business, iii) The inspiration for the business idea, iv) The common things done well, v) The common things entrepreneurs would do differently.

Introduction

Entrepreneurs have the ability and passion to see opportunities where other people see problems. Entrepreneurs identify an opportunity, process several options, select one, and implement. As one risk-oriented entrepreneur told the authors, he was very comfortable with taking risks and once implemented, reassess the opportunity, pivot and make the needed adjustments before others even entered the market (Nathan, 2023).

Entrepreneurs from the United States and Ireland share similar characteristics and approaches to monetizing their ideas. In particular, the similarities between the two countries were significant in their approach to the process of innovation: ideation, concept development, strategy, business analysis, product development, market testing validation, and commercialization (Dess, 2021).

The title of this journal article derived from a conversation with a 3M scientist, Art Fry, who created the yellow sticky notes called Post-it Products®. We were discussing the topic of innovation when he peaked over the top of his glasses and stated, “you have to kiss a lot of frogs to find a prince” (Fry, 2017). A wonderful reference to the Grimm Brother’s children’s book (Denecke, 2019) and an insight into the art of innovation which can be full of ambiguity and non-linear thinking (Zaboskiet al., 2016).

Ireland Versus the USA

In 2023, Ireland had a population of just over 5 million people and an economy of over $500 billion. The average income in Ireland was $45,000 euros or approximately, $48,000 in US Dollars. According to the Bureau of Labor Statistics, the USA has a population of over 333 million people and an economy of over $25 trillion with an average income of $76,000 (Bureau of Labor Statistics, 2024). Both countries are deemed entrepreneurial and share similar traits in terms of education levels, government support, a strong dimension of individualism and the desire to make a difference.

Definition of Entrepreneurship

Steve Jobs once said, “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance (Johnson, 2010).” Steve Jobs had the innate ability to identify consumer needs and trends where others saw chaos. According to Barringer, entrepreneurs are “individuals who pursue opportunities for the purpose of exploiting future goods and services” (Barringer & Ireland, 2019). A successful entrepreneur understands the importance of creating products or services that meet a specific consumer need or want. Successful entrepreneurs understand the impact of employing good people, strong marketing programs, and a healthy gross margin (Nathan, 2023).

Dess, in his book, Strategic Management (Dess, 2021), posits that entrepreneurs have strong self-esteem that leads to high self-efficacy or belief in themselves. Entrepreneurs are driven, open to new ideas, can handle ambiguity and are laser focused on their business (Dess, 2021).

United States Entrepreneur Survey

Based in London, England, Global Entrepreneurship Monitor (GEM) is a leading company in the study of entrepreneurship. GEM states that in the United States, 17% of adults are involved in nascent entrepreneurship versus 12.5% in Ireland. Ireland is rated as one of the most entrepreneurial countries in Europe and compares favorably to the United States in entrepreneurial activity (Global Entrepreneurship Monitor, 2024).

In the United States in 2019, a nationwide study was designed and completed with the research company, Qualtrics. There were 355 people who self-identified as entrepreneurs representing 42 different states. The paper was published in July of 2020 and the title was, “Kissing Frogs: Navigating the challenges of becoming a successful entrepreneur” (Dierberger, 2020).

Irish Survey

In September of 2022, one of the authors was awarded a Fulbright scholarship to study Entrepreneurship in Ireland for the semester. Working closely with Atlantic Technology Universities’(ATU), the authors received approval from the ATU internal review board (IRB), developed the survey and beta tested it with 37 entrepreneurs from Donegal County and Derry. Upon returning to the USA in the summer of 2023, the author contracted with Qualtrics in Ireland to implement the survey across the country. The entrepreneurial survey resulted in 304 responses from 24 counties and closed the survey.

The authors compared the results from the 2019 survey in the USA to the survey results from Ireland in 2023. The comparison of the data was remarkably similar in many areas with some key differences in terms of their results.

Irish entrepreneurs answered survey questions regarding the challenges they faced starting their own businesses. The following questions were asked:

• How many businesses have you started?

• How many of your businesses failed?

• What was the inspiration for your business idea?

• Do you have a mission and vision statement?

• What are three things you did well?

• What are three things you would do differently?

The surveys focused on business organizations. Per the researchers’ request, the criteria used for the respondents represented:

• Entrepreneurs who actually started a business

• An even number of men and women

• An eclectic collection of businesses

• A variety of educational backgrounds

• Representative of the entire country

The USA survey results from 2019 included the following demographics:

• Entrepreneurs from 42 states

• 154 males and 201 females

• 69.5% of the respondents self-identified as Caucasian

• The average age was over 30 with the youngest at 18 and over 50

• Entrepreneurs over the age of 50 were more likely to have started multiple businesses

• 63% of the entrepreneurs earn less than $100,000 a year

• Almost 64% of the people surveyed had an undergraduate or graduate degree or a doctorate

The following were the Irish survey results from 2023:

• 24 out of 26 (Ireland only) counties were represented with a third of the respondents from Dublin County

• There were 154 males,165 females and three who identified as non-binary and three who prefer not to be identified

• 236% or 77% of the respondents earned between $50k and $100k; 34 made between $100k and $150k; 21 made between $150k to $200k; 4 between $200k and $250k; and 4 over $250k.

• Over 44% of the people surveyed had a college degree with 42 (mostly male) with a 2-year degree; 84 had 4-year degrees; 10 had doctorates; 53 had a high school degree and 52 with a technical degree. Ireland is considered one of the most educated country in Europe with France, Germany and England having less than 40% of adults with college degrees.

• 37 companies have been in business for less than one year; 25 companies were in business one-two years; 69 companies were in business for two-five years; 46 companies were in business for five-ten years; and 95 for ten plus years.

Table I is a comparison of the two surveys. The data from the USA and Ireland shows an interesting difference in the gender of the participants with the Irish survey taken by more female entrepreneurs. The United States had a diverse group of entrepreneurs with a similar bell-shaped graph of age groups and education levels. One difference was the Irish respondents identified technical schools as one of the educational options.

Table I. Demographic Results

Demographics	USA results	Ireland results
Gender	Percentage
Female	55.4%	54%
Male	44.6%	46%
Race	Number of respondents
Caucasian	247	296
Asian American	8	4
Native American	6	0
African American	42	4
Hispanic	29	0
Other	10	0
Age
18–24	34	33
25–34	111	102
35–44	125	99
45–54	65	46
55 plus	76	11
Education level
High school graduate	68	53
Associates degree	50	44
Bachelor’s degree	113	84
Graduate degree	101	54
Doctorate degree	13	10
Technical degree	0	52
Levels of income
Less than $50k	100	27
$50–$99k	124	53
$100k–$150k	77	35
$150–$249k	36	12
Over $250k	27	15

The majority of Irish entrepreneurs started one business. In the USA survey, over 200 of the entrepreneurs (roughly 59%) started more than one business. As one entrepreneur told the authors, “With each business I learned and did not repeat the same mistakes” (Nathan, 2023). The point for entrepreneurs, is they grow with each experience and they get better.

Table II addresses the number of businesses stated by entrepreneurs in both countries.

Table II. Businesses Started

USA number of entrepreneurs	Businesses started	Irish number of entrepreneurs	Businesses started
62	0	0	0
172	1	221	1
167	2	66	2
27	3	11	3
14	4 +	5	4 +

An example of a serial entrepreneur is Stian Knutsen, from Oslo, Norway. He is a life-long entrepreneur whose core competencies center around clean energy, sustainability, food waste and the reduction of carbon and pollution. His desire to make an impact in the world helps drive his entrepreneurial spirit. One of his businesses is a patented design for harnessing the power of wind and ocean currents into a unique technology called World Wide Wind (Knutsen, 2023). The World-Wide Wind product line can generate energy on a windless day by using the ocean current to turn the turbine in order to generate clean energy. Knutsen also patented a unique packaging design to reduce the carbon footprint by 50% called Smart Packaging. The design uses half the amount of space, less corrugated boxes and therefore doubles the amount a company can ship in a 40-foot container thereby lowering shipping costs. Knutson’s continues to create businesses that builds on sustainability and reducing the worlds carbon footprint (Knutsen, 2023).

Inspiration for the Business

Steve Jobs stated that he did not believe in market research because consumers could only tell you the articulated need; a faster computer, more cameras on their smart phone, larger size. However, consumer focus panels could not communicate the unarticulated need; a smartphone device that you can use for phone calls, watch movies, listen to music (Barrows, 2011). Innovation is the action of commercializing a product or service (Zaboskiet al., 2016).

The majority of entrepreneurs received the inspiration for their businesses from their own experiences. Entrepreneurs have the ability to respond to consumer needs and create businesses that they can monetize into business opportunities. There are entrepreneurs like Stian Knutsen, who were motivated to create businesses to make a difference in the world. There are other entrepreneurs who simply want to serve the needs of the community with needed services. Table III identifies where entrepreneurs derive the inspiration for their businesses.

Table III. Business Inspiration

USA inspiration	Respondents	Irish inspiration	Respondents
Mentor	6	Mentor	13
University	5	University	0
Customer need	2	Customer need	37
Family	24	Family	78
Friends	20	Friends	34
Business experience	215	Business experience/myself	109
Web/internet	5	Web/internet	28
Other	8		4

Table IV, shows that half of the entrepreneurs had fewer than 10 employees and sales of less than $100,000 per year. In the United States, 65 entrepreneurs had sales of over $1,000,000 and over 100 employees, which is a strong benchmark for many entrepreneurs. In Ireland, the majority of the entrepreneurs had sales of less than $100,000 Euros. According to the USA Small Business Administration, very few companies ever exceed $10 million in sales—with less than 1% cross that threshold (Trainor, 2022). The data from the surveys confirm that small business entrepreneurs drive innovation.

Table IV. Sales Summary

USA sales from last fiscal year	USA sales by company	Number of employees	Irish sales by company	Irish number of employees
0–$100,000	170	Less than 10	128	Less than 10
$100,000–$250,000	41	11–50	45	11–49
$250,000–$500,000	37	51–100	57	51–100
$500,000–$1,000,000	30	101–250	39	101–250
$1,000,000–$2,000,000	22	251–500	39	251–500
$2,000,000–$5,000,000	15	501–1000	3	501–1000
$5,000,000–$10,000,000	15	1,000+	1	1000+
$10,000,000 plus	13	1,000+		1000+

The data from Table V features’ answers the question of things entrepreneurs did well when starting their businesses. The United States respondents listed marketing and advertising as the top reason they were successful, followed by managing cash flow, strong finances and having a formal business plan. The Irish entrepreneurs responded slightly differently with the importance of employees and customer service with almost 50% identifying that as the most important component of their success. In addition, they identified better marketing, improved location and having an innovative idea as the next more important items. The importance of location speaks to the number of retail-oriented respondents form Ireland in the survey results.

Table V. Top Three Reasons for Success

USA-What I did right	Respondents	Irish-What I did right
Innovative business idea	19	107
Employees	26	151
Focus/Timing	5	11
Advertising	38	66
Business plan	28	45
Financial acumen	29	38
Promotions	1	2
Sales expertise	8	0
Location		146
Managing costs	14	5
Network	6	0
Brand logo	6	0
Customers	19	0
Mentorship	14	0
Market research	20	3
Customer needs	10	10
Perseverance	8	0
Hard work	11	41
Product quality	18	23
Honesty	4	0
Service	11	45
Risk-taking	13	0

In Table VI, we asked entrepreneurs what they would have done differently. The largest category of USA entrepreneurs centered around finances:

Table VI. What Entrepreneurs Could Have Done Better

USA-What I would change?	Respondents	Irish-What I would change?
Capital	24
Strategic planning	9
Lean start-up	7
Market research	14	2
Manage cash flow	21	74
More money	8	44
Hired more people	15	48
Mentoring	7
Hired better people	8	42
Inventory management	4	0
Start earlier/Later		217
Planning	12
Production planning	6
Networking	14
Organization	6
Sales	11
Promotion	29	88
Better website	9
Anticipate competition	1	56
Location	10	64
Timing	1	63
Value proposition	12	44
Have more fun	6
Dedicate more time	13

• The need for more upfront money

• Managing cash flow (especially in a seasonal business)

The second largest area was the need for improved sales and marketing:

• Better business plan

• Production planning

• Branding

• Networking

Some entrepreneurs wished they would have started the businesses earlier and regretted they did not hire more qualified people to help grow the business. A few entrepreneurs wished they would have put more time and energy into the business at the beginning. Ironically, the survey generated a few responses from entrepreneurs who regretted ever starting the business as well as their choice of partners.

In Ireland, 71% of the entrepreneurs overwhelmingly stated they would have started earlier. They also believed they would have invested more in marketing and advertising followed by managing their cash flow.

Common themes emerge between the two sets of data include the importance of cash, better marketing and starting earlier.

The data surrounding entrepreneur’s motivation to start their business is intriguing and consistent with previously published papers. In Table VII, entrepreneurs start businesses for three main reasons: income, flexibility and personal growth. In interviews with a number of entrepreneurs, they mention the freedom of running their own business and not having a boss. As one entrepreneur who worked at a larger company and started their own business stated, “once you have tasted freedom, it is hard to back to work for a large corporation.” (Nathan, 2023) Entrepreneurs enjoy running their own businesses and the freedom that comes with it. Only a few of the entrepreneurs cited power and recognition as motivating factors.

Table VII. Motivation for the Business

USA-Motivation	Respondents	Irish-Motivation
Personal growth/pride	120	10
Flexibility	157	57
Independence/Be your own boss		94
Income	246	45
More family time	40	10
Fulfillment	29	12
Product/development	28	8
Become independently wealthy	59	0
Make a difference	25	11
Recognition	19	0
Enjoyment/fun	79	0
Pursue dream/passion	66	5
Help family/others	30	11
Power	11	0
The challenge	22	0
Other	6	4

Summary

The opportunity to research, study and compare entrepreneurship in the USA and Ireland was a labor of love.

The data from the entrepreneurial surveys teaches us the motivation that drives entrepreneurs to start businesses; the desire to be your own boss, have flexible working schedules and make a difference resonated with both USA and Irish entrepreneurs.

In summary, successful entrepreneurs persevere and quickly pivot when things are not going well. They understand the need to manage their cash flow, have strong employees and stay focused on the needs of their customers.

In the end, entrepreneurs know they may have to “kiss a lot of frogs to find their prince.”