The
capacity and willingness to develop, organize, and manage a business venture
for the purpose of making profit, having the risk of failure in any of its, is
known as entrepreneurship.
‘Entrepreneurship is the pursuit of
opportunity without regard to resources currently controlled ‘
-Howard Stevenson
Characteristics
of successful entrepreneur
1. Passion for the Business
The number
one characteristic shared by successful entrepreneurs is passion for their
business; stems from the entrepreneur’s belief that the business will
positively influence people’s lives
2. Product/Customer Focus
Keen focus
on products and customers stems from the fact that most successful
entrepreneurs are, at heart, craftspeople
3. Tenacity Despite
Failure
Because
entrepreneurs are typically trying something new, the failure rate associated
with their efforts is naturally high
4. Execution
Intelligence
The ability to fashion a solid business idea into a viable business is
a key characteristic of successful entrepreneurs
Why to become an entrepreneur
Three
primary reasons:
1 Be their own boss: either long term ambition to own their own firm or have frustrated
working in traditional jobs
2. Pursue their own ideas: some people are naturally alert, and when they recognize ideas for
new products or services, they have a desire to see those ideas realized
3. Realize financial goals: financial rewards; typically secondary to the first two (and often
fails to live up to its hype)
