Entrepreneurial Characteristics

An entrepreneur can be briefly defined as being someone who organises a business venture and is responsible for the risks involved.

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Hard Work
Without hard work an entrepreuneur is unlikelyto succeed. This usuallt means more than the usual 9 to 5 hours, especially in the early days.. Commited entrepreneurs will constantly be thinking about the business and working to improve it.
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Motivation
An entrepreneur needs to be well motivated with a strong desire to succeed. There will inevitably be set backs and problems to solve. Without strong motivation to overcome them, the business may fail.
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Risk-Taking
An entrepreneur must be prepared to take risks. Business is all about having the foresight to take calculated risks at the right time. If not, many opportunities can be missed.
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Initiative
Entrepreneurs do not need to be told what to do. They see and seize upon every opportunity to advance the business using their experience and initiative.
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Resilience
Life as an entrepreneur will not be easy or straight forward. Setbacks and failures are commonplace and entrepreneurs will accept the setbacks,learn from the mistakes and carry on. Self confidence can help entrepreneurs to survive.
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Creativity
Entrepreneurs need to be able to come up with good ideas or a fresh way of looking at things in order to create and maintain a competitive advantage.
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Perseverance/Commitment
Without 100% commitment to the business it is unlikely to succeed and there will be a constant series of problems to solve. Markets are dynamic and need constant monitoring.
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Understanding The Market
Good entrepreneurs know their market well. This means having an understanding of their customers needs and wants, their rivals likely plans and the direction and future of the market as a whole. Successful entrepreneurs can cope with competitiion
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Other cards in this set

Card 2

Front

An entrepreneur needs to be well motivated with a strong desire to succeed. There will inevitably be set backs and problems to solve. Without strong motivation to overcome them, the business may fail.

Back

Motivation

Card 3

Front

An entrepreneur must be prepared to take risks. Business is all about having the foresight to take calculated risks at the right time. If not, many opportunities can be missed.

Back

Preview of the back of card 3

Card 4

Front

Entrepreneurs do not need to be told what to do. They see and seize upon every opportunity to advance the business using their experience and initiative.

Back

Preview of the back of card 4

Card 5

Front

Life as an entrepreneur will not be easy or straight forward. Setbacks and failures are commonplace and entrepreneurs will accept the setbacks,learn from the mistakes and carry on. Self confidence can help entrepreneurs to survive.

Back

Preview of the back of card 5
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