Essay on the important characteristic of a successful entrepreneur
Having known the role and functions of an entrepreneur, you may need to understand qualities that must be present or need to be
(1) Creativity and Innovation:
The anchor of an entrepreneur’s career is creativity and innovation. Innovation is the process of applying “new knowledge” to practical use.
It does not necessarily mean trying new ideas for the first time but it also means supplying the same or a similar idea at different places or in new settings.
As an entrepreneur you may have to develop the quality of picking up new ideas and adopting them faster than others.
(2) Risk Taking:
Many of us have new ideas, knowledge and resources. But we do not start an enterprito take risk involved in it.
As an entrepreneur you have to develop a faith that no venture is possible without certain amount of risk.
An entrepreneur assesses the risk and favors taking calculated moderate risk (neither very high nor very low).
(3) Initiative and Drive:
An entrepreneur is not merely a dreamer; he has the important quality to take initiative to translate idea into action.
Since he acts on his own initiative, he is full of energy and drive to work hard.
Often you may not achieve success in the first attempt. But there is no successful entrepreneur who has not met failure earlier.
Entrepreneurs who succeed are not overwhelmed with success. They also do not give up due to initial obstacle and failure, but take repeated and different actions to overcome obstacles.
This characteristic ‘persistence’ and must be imbibed as an important entrepreneurial quality.
(5) Opportunity Seeking:
Common people just wait for opportunities to come along. Majority do not even recognize opportunities until these become obvious.
An entrepeates, seeks or recognizes business opportunities even under crisis.
(6) Information Seeking:
Seeking relevant and precise information is important for success. It...