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Learn the True Characteristics of an Entrepreneur

It is said that in order to become an effective individual in no matter what endeavor you wish to get, you must have the right frame of mind and characteristics. This is especially valid with an entrepreneur. Not everyone can become an entrepreneur. When anything else, what is an entrepreneur?

According to one definition, an entrepreneur is somebody who finances or starts a certain business venture. If you too may wish to become a businessperson, you have to possess the characteristics of your entrepreneur.

What are the qualities of an entrepreneur? Are they really important? Well, needless to say the characteristics are important if you dont possess these, you will have lower probabilities in terms of business achievement. The characteristics are as follows

1. Threat taker this is a very important manifestation of an entrepreneur. If you’re reluctant to take any danger, then you will not succeed as a businessperson. Inside the everyday course of the business enterprise, you will encounter a lot of problems and challenges which you need to decide the soonest.

Some risks are worth taking after cautious evaluation especially if it really is for the good from the business. If you’re not really a risk taker, then you’re no effective entrepreneur and you are bound to fail inside your business undertaking.

2. Wise being smart is yet another characteristic of an entrepreneur. You have to be clever, keen, as well as witty in all your business dealings. You have to present mental alertness as well as intelligence so that you can win the respect as well as trust of customers along with other clients.

3. A leader authority is a characteristic which is hard to find among men and women. Not many individuals have the nerve to take the lead. To become a good entrepreneur, you must be a leader. Some say that it is a born characteristic but if you dont possess this, you can also learn to turn into a leader.

You’re very lucky if you’re a delivered leader because you simply have to develop your other qualities and use these when you choose to become an entrepreneur. As a leader, you should be able to guide, effect, and direct individuals. This way, you can manage all your business activities with ease and fewer problems.

4. Inner passion for company another important characteristic has the right passion for business. You have to maintain your passion and interest in the business enterprise. As long as you have the proper drive and passion, you can run the company for a long time.

5. Honest and trustworthy some say that eighty percent of an entrepreneur’s time is dedicated to pooling and attracting customers. This may be true due to the fact without the customers, the business will not exist. You have to be honest and trustworthy so that you can develop great will.

There are other characteristics that an entrepreneur need to possess. These characteristics aid him or her do every one of the business responsibilities as well as obligations that need to be completed.

These are also the keys to business success. If you wish to finance a certain business venture and also run the business oneself, you should develop these traits. Without them, your business will quickly fail and you will endure the losses.

Be thankful if you already have the options of an entrepreneur. All you need to do now is to study the market carefully, think of a good business venture, and supply for the capital and you are all set.

Comments: 13

  1. Vernon March 12, 2013 at 8:26 pm Reply

    1. What are wants?
    A) Things necessary for survival
    B) Desires that may be satisfied by consuming a good or service
    C) Physical objects that may be purchased for personal use
    D) Lack of resources needed to meet desires
    2. Why must people make choices about things they desire?
    A) Producers use the same resources to make different kinds of items.
    B) Wants are ever-changing, so people must substitute new items for old ones.
    C) People must satisfy their needs first, because they cannot afford to satisfy all desires.
    D) People’s wants are unlimited, but resources available are scarce.
    3. Societies must decide how goods and services will be produced
    A) to provide as many jobs as possible for its labor force.
    B) to use scarce resources in the most efficient way.
    C) after determining what delivery systems are available.
    D) based on the natural resources they own.
    4. What is labor?
    A) The time, effort, and talent that go into production
    B) The resources made and used by people to produce and distribute goods
    C) The knowledge and skills gained through study and experience
    D) The number of people available to work in a society
    5. An important characteristic of entrepreneurs is that they
    A) develop new products but do not market them.
    B) make a profit by investing in existing industries.
    C) take risks to create new kinds of businesses.
    D) expand distribution systems to reach more consumers.

  2. Shelley September 12, 2013 at 10:32 am Reply

    Describe five (5) characteristics of entrepreneurs. Explain why you would or why you would not make a successful entrepreneur by drawing upon personal experiences.

  3. Shaun September 27, 2013 at 9:54 am Reply

    Hello I’m a senior in high-school and wanted to know if any entrepreneurs out there would like to share your advice about becoming an entrepreneur, things I should know and anything important, please take your time to answer this, I gladly appreciate it 🙂 !

  4. Delisa September 28, 2013 at 2:43 am Reply

    Is Entrepreneur too french sounding?

    A self made person who started a business and achieved great success would likely easily beat President Obama, because the voters always blame the President when growth is too slow.

    People like Romney are part of the problem. He bought companies, fired people, and did whatever it takes to make money.

  5. Robert November 7, 2013 at 9:03 am Reply

    I want to be an entrepreneur, but I’m not sure which program or major I should select. I’m thinking about a business degree or a marketing degree, but I’m not sure.
    Ohh … and what about Finance as a major?

  6. Eusebio December 14, 2013 at 3:01 pm Reply

    I need to find an article on any small business entrepreneur and tell whether it is successful or not. I cannot seem to find one.

  7. Sarita December 23, 2013 at 3:43 am Reply

    Question No: 1 ( Quiz ) – Please choose one
    Which of the following has not yet been empirically established as a distinguishing characteristic of entrepreneurs?

    ► Locus of control
    ► Feeling about independence
    ► Need for achievement
    ► Risk taking

    Question No: 2 ( Quiz ) – Please choose one
    There is an evidence that an entrepreneur usually has _______________ parents.

    ► Self employed
    ► Discouraged
    ► Non supportive
    ► Strict

    Question No: 3 ( Quiz ) – Please choose one
    The level at which an individual is viewed by society is called:

    ► Financial status
    ► Qualification
    ► Social status
    ► Achievement

    Question No: 4 ( Quiz ) – Please choose one
    An individual’s need to be recognized is called:

    ► Need for independence
    ► Need for affiliation
    ► Need of fame
    ► Need for achievement

    Question No: 5 ( Quiz ) – Please choose one
    With a commercial history of only 300 years, which country was a new comer to the international arena?

    ► Japan
    ► U.S
    ► China
    ► U.K

    Question No: 6 ( Quiz ) – Please choose one
    International entrepreneur’s decisions are more complex because of:

    ► Business expansion
    ► Analysis of Huge information is difficult
    ► Complex transactions
    ► Uncontrollable factors

    Question No: 7 ( Quiz ) – Please choose one
    A company dealing in beer has a merger with cigarettes manufacturing firm. This merger is called:

    ► Horizontal merger
    ► Product extension merger
    ► Market extension merger
    ► Vertical merger

    Question No: 8 ( Quiz ) – Please choose one
    Which one of the following is an important source of idea generation due to their familiarity with the needs of market?

    ► Existing products and services
    ► Distribution channels
    ► Federal government
    ► Consumers

    Question No: 9 ( Quiz ) – Please choose one
    Which of the following techniques is an excellent method for intial screening of ideas and concepts?

    ► Focus group
    ► Problem inventory analysis
    ► Brain storming
    ► Reverse brainstorming

    Question No: 10 ( Quiz ) – Please choose one
    Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?

    ► Idea Stage
    ► Product Planning Stage
    ► Product Development Stage
    ► Test Marketing Stage

    Question No: 11 ( Quiz ) – Please choose one
    Which one of the following is a method for obtaining new ideas and solutions by focusing on problems?

    ► Product inventory analysis
    ► Gordon method
    ► Checklist method
    ► Scientific method

    Question No: 12 ( Quiz ) – Please choose one
    Which one of the following is the main problem for the entrepreneur in the beginning stages of creating a new venture?

    ► Lack of experience
    ► Limited resources
    ► Lack of education
    ► None of the given options

    Question No: 13 ( Quiz ) – Please choose one
    A legally binding agreement between two parties is called:

    ► A contract
    ► Licensing
    ► Insurance
    ► A copyright

    Question No: 14 ( Quiz ) – Please choose one
    Which of the following is included in the description of the business?

    ► Location
    ► Products offered
    ► History
    ► All of the given options

    Question No: 15 ( Quiz ) – Please choose one
    The marketing perspective of business plan considers the venture through the eyes of:

    ► Investor
    ► Customer
    ► Entrepreneur
    ► Marketing manager

    Question No: 16 ( Quiz ) – Please choose one
    Which one of the following is NOT a condition of a contract?

    ► An offer is made
    ► An acceptance of offer
    ► Counter offer
    ► Consideration is given

    Question No: 17 ( Quiz ) – Please choose one
    For which of the following copy right acquisition is desirable?

    ► Songs
    ► Poems
    ► Models
    ► All of the given options

    Question No: 18 ( Quiz ) – Please choose one
    Which of the following is TRUE for Disclosure Document?

    ► It gives recognition that he was the inventor of the idea in past
    ► It gives recognition that he is the first the inventor of the idea
    ► It gives recognition that he will be the invent an idea in future
    ► It gives recognition that he wants to copy the idea

    Question No: 19 ( Quiz ) – Please choose one
    Trade barriers cause:

    ► Increase in cost
    ► Decrease in cost
    ► Increase in profit
    ► None of the given options

    Question No: 20 ( Quiz ) – Please choose one
    Having more than 50% ownership position that provides the entrepreneur with managerial control is called:

    ► Joint venture
    ► Majority interest
    ► Horizontal merger
    ► Diversified activity merger

  8. Melita February 22, 2014 at 5:39 am Reply

    Can you describe what entrepreneurial mindset is? Can you present me an example?

  9. Danika February 22, 2014 at 8:32 am Reply

    importance characteristic of entrepreneurs

  10. Berneice March 9, 2014 at 6:49 pm Reply

    What are the essential skills an entrepreneur should possess? Esp a young entrepreneur who needs to attract manpower? How to master entrepreneural skills?

  11. Addie March 14, 2014 at 3:02 am Reply

    Hello. I have a World History project. I need to draw an example of an entrepreneur (a person who organizes, manages, and takes on the risks of a business) and I don’t know what to draw. I also need to draw a picture of a non-example, and I need characteristics. Please help? Thank you so much!

  12. Belle March 18, 2014 at 5:54 pm Reply

    Q1: Describe a co-operative and competitive relationship between entrepreneurs and suppliers? Give examples.

    This is a leaving certificate question and worth 15marks. I looked in my book but doesn’t have a relationship between entrepreneurs and suppliers.

    Q2:Can a supplier be an investor?

  13. Lesley May 20, 2014 at 12:06 pm Reply

    Who is entrepreneur?
    Is he the one who starts business by spending(investing) money?
    One who give suggestions/plannings?
    Why people(entrepreneurs) give presentations?
    And why it is said for them:”became a millionaire”?
    And how entrepreneurship is related to web-hosting?
    @ ADARSHA- I want to talk to you on this topic little more
    Your Id?

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