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Five Essential Characteristics for an Entrepreneur

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The first characteristic that someone need to become an entrepreneur is passion. Entrepreneurs aren’t in it for the money. The true benefit is doing what they love the money is just a bonus. Building a business is not easy it is time consuming and it takes a lot of effort. It means putting in insanely long hours and doing extra works. One will not achieve success if they don’t love what they are doing. for example, Steve jobs the founder of apple wasn’t passionate about computer hardware. He was eager about building tools that would help people release their personal creativity.

The second one is risk taker, if an entrepreneur does not embrace risk taking, they may want to reconsider on being a business owner. Entrepreneurs won’t let uncertainty and future failure stop them from doing what needs to be done. For example, the world-famous billionaire bill gates took a risk when he dropped out of college in order to help create Microsoft.

The third one is creativity. Entrepreneurs they always think outside of the box and they see things differently. Business always came from a big idea, and those big idea came from a place of creativity. For example, Walter Elias Disney the founder of Walt Disney spends most of his childhood drawing and painting pictures and selling them to friends and neighbors. He took it further by taking formal classes. Soon after he and his brother set up a “Disney brother studio” and now he is a famous self-made millionaire in the world.

The fourth characteristic is leadership. An entrepreneur has a vision. But it takes lots of assets to turn that imaginative and prescient into reality. This type of resource are the people that the entrepreneurs hires to carry numerous function capabilities like accounting, supplying and many more. For example, Starbucks is known for its remarkable treatment towards their employees. In 1997 three employees were killed in a bungled robbery in Washington D.C stores, instead of issuing a press release., CEO Howard Schultz flew straight to D.C spent and entire week with the victims’ families and the employee. Schultz tenderness and implausible leadership helped heal those who closed to the tragedy.

The last one is know how to network. Sometimes knowing people and build relationship with them is an important part of success. It can also help build an entrepreneur business reputation and also avoid burnout. For instance, Tan Sri Tony Fernandez is the founder of Tune Asia Sdn Bhd who introduce the first budget airlines in Malaysia. it was through Datuk Pahamin A . Rejan the former secretary general of the Malaysia domestic and consumer affair ministry that Tony Fernandes meet the prime minister Tun Dr Mahathir to buy the air asia airlines. The conclusion is to become an entrepreneur is not an easy task they have to work very hard to become successful.

References

Cite this paper

Five Essential Characteristics for an Entrepreneur. (2020, Dec 16). Retrieved from https://samploon.com/five-essential-characteristics-for-an-entrepreneur/

FAQ

FAQ

What are the 5 main characteristics of entrepreneurship?
The five main characteristics of entrepreneurship are innovation, risk-taking, passion, persistence, and flexibility. These traits are essential for individuals who want to start and grow successful businesses.
What are the 6 characteristics of an entrepreneur?
An entrepreneur is someone who is willing to take on risk to bring about change. They have a vision for their business, and they are able to work hard to make that vision a reality. They are also good at problem solving, and they are always looking for new opportunities.
What are the characteristics of entrepreneur?
An entrepreneur is someone who is creative and innovative, and who takes risks to start and grow their own businesses.
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