Entrepreneurial Characteristics

1. 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. (4, 6)
5. 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. (10)
6. 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. (10)

2. 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. (4, 4)
3. 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. (10)
4. 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. (10)

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