Essay on Common Traits of Entrepreneurs - 597 Words

In the past few years, there has a lot of attention paid to the concept of entrepreneurship; however, many still struggle to find the exact meaning of what an entrepreneur is and how he is different from other regular business-owners. This query has gotten people to come up with different definitions and studies in the search of a final answer and, even though there is still a debate for a complete designation accepted by all, now there are certain traits that are recognized by everyone as basics for being an entrepreneur. According to free-lance writer and expert in economic issues Jeanne Holden: â€Å"There is no one definitive profile of an entrepreneur. Successful entrepreneurs come in various ages, income levels, gender, and race. They†¦show more content†¦Then, they need dedication to make these ideas come true, even if is necessary for them to work twenty-four hours a day seven days a week to get everything started; entrepreneurs completely devote to their creations, unlike most managers who just work to earn a salary without giving their best for their companies or even caring at all for them. Once they have their ideas clear and their goals set, entrepreneurs require determination to never give up even when things seem harder than what they expected; their focus is always on achieving their objectives and succeeding. This determination needs to be in conjunction with flexibility, because any good entrepreneur must understand the importance of adaption in the changing world and business environment; since they compete with already established companies they must be open for change and improvement. Later on, there are two characteristics that help entrepreneurs establish proper relationships with others in order to run a successful enterprise, these are leadership and passion. The first enables entrepreneurs to direct, influence and inspire others to give the best of them to work to accomplish the objectives set by them, whether these others are employees or peers. And in order to be good leaders, entrepreneurs must have that passion that makes them feel confident about a new idea and keeps them focus on it; this passion is also what makesShow MoreRelatedOverview of Entrepreneurship1418 Words   |  6 Pagessuch as labor, land and capital in order to realize profits. An entrepreneur is any person with the ability to manage, assume the risk, and conduct business in order to gain profits. An entrepreneur can identify opportunities, combine locally available resources, and make a plan to start a business. In simple terms, an entrepreneur is someone who can create value in resourc es. Entrepreneurship is a day-to-day activity where an entrepreneur regularly comes up with new ways of doing business and creatingRead MoreEnterprise, Entrepreneurship And Intrapreneurship. Enterprise1638 Words   |  7 PagesIntroduction Entrepreneur came from the French word called ‘Enteprendre’, which means ‘to undertake’ when translated into English and that is what entrepreneurs basically do. This report not only discusses what entrepreneurship is but also the different methods an entrepreneur can use to develop a business and how a new/fresh business can help the economy and third world countries too. This report explains what can go wrong within a business and what sorts of misconceptions there are, and if they’reRead MoreCharacteristics of Successful Entrepreneurs1015 Words   |  5 PagesCharacteristics 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. 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Today, Goltz’s business in the largest retail, customRead MoreWhat Do We Call People Who Start Their Own Businesses?1504 Words   |  7 PagesWhat do we call people who start their own businesses? Who put their ideas into action? Who create opportunities for others? The term is ‘Entrepreneurs’, they are people who take advantage of a profitable opportunity and take the risk to create and start up their own business. They try and achieve the unmet wants and needs of society. Entrepreneurs have inspired what we now call the ‘Entreprene urial Spirit,’ which could be defined as an attitude and approach to thinking that actively seeks out changeRead MoreEntrepreneurship Is A Nature Or Nurture Process Essay1468 Words   |  6 Pagesdefined. As it is a multi-faceted field that spans across a wide range of contexts, there is no agreed definition of entrepreneurship (Schaper, 2014). For the context of this essay, however, it is a process that brings together a team- with a leading entrepreneur-, an opportunity, the right resources, an organisation, and an appropriate environment (Massey, 2011; Schaper, 2014). This essay argues why such a process is not defined by the actions or characteristics of just one individual. Firstly, entrepreneurialRead MoreConcept of Entrepreneurship1455 Words   |  6 PagesQ1. Discuss and define the concept of ‘entrepreneurship’. The entrepreneur is our visionary, the creator in each of us. Were born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. It is developed, nurtured, and given space to flourish or is squelched, thwarted, without air or stimulation, and dies. Michael Gerber The term entrepreneur has been around since the seventeenth-century, it originates from France, where the phrase â€Å"entreprendre† was