Characteristics of an enterpreneur - Essay Example

Not only does he invent but also oversees the progress and performance of the business venture. According to most economists, an entrepreneur is one who is willing to bear the risk of a new business venture if there is a significant chance for profit (Davidsson 70). Entrepreneurial ventures are considerably different and depend on the type of organization, individual and creativity involved. The ventures range in scale from solo projects to major undertakings creating many job opportunities. Various entrepreneurial ventures include establishing a communications store that get people talking by selling cell phones and other devices, starting a mobile computer training that prevents employees from having to leave their offices to undertake computer courses, starting a glass shop that collects and recycles used glass materials, the list practically endless as noted by Parker (66).

What is needed to be a Successful Entrepreneur In order to succeed in doing business, an entrepreneur must have a great deal of passion in their undertakings. In other words, he or she must love what he does, passion driving him/her toward working harder and harder toward set objectives. With hard work, the business person becomes more productive and much happier with time. Yet another trait that the entrepreneur must posses is persistence (Krueger 23). This means that the entrepreneur must be determined to succeed in all that they do.

They must be prepared to overcome daily challenges and to do the things that they may not like to do. The entrepreneur must also be able to work toward achieving an ultimate goal in a creative way. Since the entrepreneur always desires to grow and meets challenges along the way, he/she has always to think about the next step to take. For example, the business person must always think of creating a new product, business, or service. Being creative on how to address conflict and service to customers and willingness to engage in new and exciting ideas will place the entrepreneur above many competitors.

He or she must be independent, ready to make things happen and very disciplined in managing time. A good entrepreneur should be intuitive. Always able to look beyond the obvious and able to make quick decisions that may affect the business. A good entrepreneur must be self-confident, always optimistic and maintaining faith in what he or she does. This allows the entrepreneur to be realistic and open minded and not afraid to ask questions and take risks on the journey to success. Yet again, the entrepreneur needs be hardworking and ready to forego comfort so as to realize the laid down objectives (Barrow, Brown &Clarke 20).

In order to succeed in any business one must possess certain attributes and acquire specific knowledge and necessary business skills. Personal qualities are important, such as the desire for continuous education, self motivation, discipline, clear vision, and a great passion. Beyond the personal attributes business men and women must be good communicators. They need to be good in both written and spoken language. This will ensure that the business person establishes good understanding with the clients.

The business people also need to be socially networked. This is because in business, it is more of who you know than who you don’t know. One current customer is worth more than several other potential customers. One