Essay On Being An Entrepreneur

Characteristics of successful entrepreneurs An entrepreneur is someone with the capacity to lead a business to success and is willing to take the risks in order to accomplish their goals. (Dollonger, 2002). Starting a new business is an example of entrepreneurship. Entrepreneurs are very important in order for any business to succeed, however, only some entrepreneurs will succeed in life. Here are some of the characteristics of successful entrepreneurs.

It is the knack for sensing an opportunity where others see chaos, contradiction and confusion. It is the ability to build a "founding team" to complement your own skills and talents. It is the know-how to find, marshal and control resources (often owned by others) and to make sure you don't run out of money when you need it most. " (Timmons 1). To be an entrepreneur, it takes the willingness to prosper with calculated risks; both personal and financial-and then do everything possible to get the odds in your favor.

The successful entrepreneur must be clear with the reason of doing business. This aspect must approach it in a positive way, not the negative issue or inquiry. Solid inspiration can make a business flourish and is of assistance to survive times of anxiety. Recognise fundamental and prime more profound reasons and find in the event that they are the right individuals to prompt achievement or possibly to where it needs to go. A few inspirations are right budgetary flexibility, want for change toward oneself, which went about similar to an own supervisor, and so on.

To be successful in creating a business plan you should keep in mind that it is a guide or reference document and not a limitation. Creating this document will also allow you to be able to asses’ market potential, determine price and manufacturing requirements, identify optimal distribution channels and refine product selection. (pg.104). Everything you put into and get out of a business plan is crucial in becoming a successful entrepreneur. The next step in becoming a successful entrepreneur is to decide what form of business ownership you want.

Every successful entrepreneur out there is quite beat up by failures and setbacks. Trust me the going will get tough and that's when you have to strap you entrepreneur boots and get going. In fact, each time you try and fail to achieve the success you aspired, is one step closer to success because you've known one way not to do it.Each time you launch a new product or service or expect soaring sales only to get dismal results is an invaluable lesson on how to get it done well next time. Maybe the product didn't actually solve a real problem in the marketplace or the product is great but the marketing effort was a letdown, so you know what? next time you will do it better and differently.Never give up it is a golden rule in

Entrepreneurship is also known as self employment. The best entrepreneurs do carve up a collection of characteristics, from persistence to the ability to tolerate risk, that are crucial to a successful venture. The following are the major characteristics that are found in an entrepreneur. - Motivation to perform Keeping in mind the end goal to run an effective business, an ambitious person must be eager for triumph – much the same as players and specialists. Indications of great inspiration incorporate attributes, for example, • Initiative • Perseverance • Responsibility • High self-esteem Entrepreneurship is a showcase for you.

One structural characteristic of being an entrepreneur is being action-oriented. Willingness to utilize action and persistence are common traits of entrepreneurs. Conclusion In conclusion, my assessment re-assure the characteristics I knew I already had. However, it was an opportunity to foretell what I need to brush up on. Even though I do not wish to be an entrepreneur, entrepreneur’s carry a tremendous amount of characteristics that bring success.

If you love what you are doing, you will be successful.”(“ Happiness Is the Key to Success") Successful entrepreneurs will pursuit their desires and the things that make them satisfied driving success. The quality of input will drastically differ if an entrepreneur has passion for the work. If a person is going after their personal desires, they will want to see it flourish. Successful entrepreneurs are happy about their passions which connects them to

Superior to a great many people, they concentrate on circumstances rather than issues and attempt to gain from disappointment. What is an entrepreneur if he is not actively situated? This originates from a feeling of earnestness. They have a high requirement for accomplishment, which inspires them to transform their thoughts

I have understood that for entrepreneur to be successful, he has to be literate, possess good interpersonal communication skills and leadership qualities (Birt & Sleeman, 1999). Entrepreneurs are most likely to succeed when markets are in disequilibrium and customer needs remain unfulfilled. The entrepreneur has the autonomy and can follow his own lifestyle and I would like to have that freedom. I would prefer to have freedom of creativity and innovation to build and grow my business. Entrepreneurs may or may not have a business plan.