Tuesday, July 23, 2019
General Character Traits of a Successful Entrepreneur Essay Example for Free
General Character Traits of a Successful Entrepreneur Essay Taking moderate risks is another characteristic of successful entrepreneurs. They dont fear to take risks. FEAR to take risks discourages initiative, brings about uncertainty of purpose, destroys ambition, kills enthusiasm, destroys good reasoning and stops you from taking action. Besides, there is nothing you can engage yourself in without any risks involved. *She takes personal responsibility for her own actions. The more responsibility you take, the more in control you are. And the freer you are, especially in your own mind, to make decisions and to do the things you want to do. Things go wrong when you run your own business. Most entrepreneurs go through crises with their businesses Ã¢â¬â and more than a few wind up with outright failures on their hands. But when youÃ¢â¬â¢re responsible for a business, you have to be able to keep calm in any situation. Any other reaction Ã¢â¬â whether you lose your temper or get flustered Ã¢â¬â compounds the problem. Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly wonÃ¢â¬â¢t make it harder. If an entrepreneur can handle failure without frustration or anger, he can move past it to find success. *She is self-confident Successful entrepreneurs dont depend on luck. They are able to visualize and they believe in the attainment of their desires at all cost. Ability to visualize and to have faith in the attainment of your desires is an important factor in building your self-confidence. *She likes to get concrete feedback on her own performance from others. Asking people around your business the feedback on your performance is one way youÃ¢â¬â¢ll know whether you need to improve your performance or stay the same. It is fine to have your critics to motivate yourself to improve your performance. *She is concerned with tasks and problems rather than with people. Successful entrepreneurs are problem solvers. They have the ability to identify specific problems of a given customer group, which require their products or services to be solved. As they solve their customers problems, they end up making money. Turning peoples problems into great opportunities is one of the characteristics of successful entrepreneurs. *She is very creative To succeed you have to be creative. All successful entrepreneurs think a lot differently from ordinary people. They see things other people have not yet mirrored and are able to introduce new things and new ways of doing things. *She is achievement- oriented All successful entrepreneurs are achievers. They do not give up when faced with a temporary defeat. They do not despair because they are highly motivated people. Whatever they put their hands and their minds on, they commit themselves to achieve it. Until they achieve it, they do not stop. Even after achieving it, they look forward to strengthen their achievements. Personal Entrepreneurial Competencies or (PECS) *Opportunity seeking Does things before asked or forced to by events Acts to extend the business into new areas, products or services Seizes unusual opportunities to start a new business, obtain financing, equipment, land work space or assistance *Persistence Takes action in the face of a significant obstacle Takes repeated actions or switches to an alternative strategy to meet a challenge or overcome an obstacle Takes personal responsibility for the performance necessary to achieve goals and objectives Commitment to work contact Makes a personal sacrifice or expends extraordinary effort to complete a job.