Entrepreneur

8 Pages 2052 Words

Characteristics of the Entrepreneur

Today’s entrepreneur is often a self-starter, a hard worker and likes to compete. Many people have these traits but aren’t entrepreneurs. So what makes a person an entrepreneur? Over the years, research and expert opinion suggest that entrepreneurs share a number of common characteristics. A good deal is known about what is required to be a successful entrepreneur. The most interesting aspect about this is what characteristics and traits make an entrepreneur successful. These characteristics and traits determine what an entrepreneur is, why people decide to become entrepreneurs, and skills that make an entrepreneur successful.

Webster’s dictionary states that the entrepreneur is one who assumes the responsibility and the risk for a business operation with the expectation of making a profit (Guralnik 205). The entrepreneur generally decides on the product, acquires the facilities, and brings together the labour force, capital, and production materials. If the business succeeds, the entrepreneur reaps the rewards of profits; if it fails, he takes the loss.

Being a self-starter often means being the prime mover for getting things done on a daily basis. They’re patient, experienced, and self-controlled, and they have great integrity. You can always rely on an entrepreneur to do what he says (Ginsberg 13). Many believe that this is the single most important characteristic of an entrepreneur. A business owner must have drive and initiative in order to succeed in their market. Most important is a single-minded drive to be successful. Money is important but only used as a way of keeping score.

Being your own boss is a major desire for being in business fro yourself. The most persuasive characteristic of entrepreneurs is that they don’t like to work for someone else. Typically, the entrepreneur is between 27 and 34, and is male (Silver 27). When trapped in a large org...