Entrepreneur Essay

1058 words - 4 pages

Shivanand KotianMMS A- 202012-141) What is entrepreneurship? What are essential traits required to be an entrepreneur? What traits do you have or you don't have to be an entrepreneuer?An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources. When the market value generated by this new combination of resources is greater than the market value these resources can generate elsewhere individually or in some other combination, the entrepreneur makes a profit.Successful businesspeople have many traits in common with one another. They are confident and optimistic. They are disciplined selfstarters. They are open to any new ideas which cross their path. Here are ten traits of the successful entrepreneur.1. DisciplinedThese individuals are focused on making their businesses work, and eliminate any hindrances or distractions to their goals. Successful entrepreneurs are disciplined enough to take steps every day toward the achievement of their objectives.2. ConfidenceThe entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. They are confident with the knowledge that they will make their businesses succeed. They exude that confidence in everything they do.3. Open MindedEntrepreneurs realize that every event and situation is a business opportunity. Ideas are constantly being generated about workflows and efficiency, people skills and potential new businesses. They have the ability to look at everything around them and focus it toward their goals.4. Self StarterEntrepreneurs know that if something needs to be done, they should start it themselves. They set the parameters and make sure that projects follow that path. They are proactive, not waiting for someone to give them permission.5. CompetitiveMany companies are formed because an entrepreneur knows that they can do a job better than another. They need to win at the sports they play and need to win at the businesses that they create. An entrepreneur will highlight their own company's track record of success.6. CreativityOne facet of creativity is being able to make connections between seemingly unrelated events or situations. Entrepreneurs often come up with solutions which are the synthesis of other items. They will repurpose products to market them to new industries.7. DeterminationEntrepreneurs are not disheartened by their defeats. They look at defeat as an opportunity for success. They are determined to make all of their endeavours succeed, so will try and try again until it does. Successful entrepreneurs do not believe that something cannot be done.8. Strong people skillsThe entrepreneur has strong communication skills to sell the product and motivate employees. Most successful entrepreneurs know how to motivate their employees so the business grows overall. They are very good at...

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