Brown and Clow(1987, quoted in Love, 2009) sees an entrepreneur as a person who recognizes a business opportunity and who organizes, manages, and assumes the risk of a business enterprise focusing on that business opportunity.
An entrepreneur has the following common characteristic:
* Desire for Independence;
* Self confidence;
* Willingness to take risk;
* Ability to recognize opportunity.
DESIRE FOR INDEPENDENT: One of the consistent characteristics of an entrepreneur is his desire for Independence. What it means is that an entrepreneur would want to work for himself /herself rather than work for others, They want to take decisions on their own.There is that believe that when you are fired from your former organization, you are likely to become a better entrepreneur. Because of this you are in a better position to take decision. A lot of people have resigned their position in organizations, to set up their own business. What they mostly tell you is that 'I can wake up at anytime to go to work' It means that it is independence they require.
SELF CONFIDENCE: There are two characteristics of an entrepreneur that leads him into having self confidence.
(a) self Motivation: Entrepreneurs set their own goals rather than having them set by their bosses. Since these goals are set by entrepreneurs, it means that they will be motivated to achieve those goals.
(b) Self Discipline: Every entrepreneur has self discipline, if not, the business will fail, Brown (1997) say " They correct errors and improve n their performance without any prompting from someone else. These are confidence people who believe in what they are doing and believe that the job is worth doing.
WILLINGNESS TO TAKE RISK: An entrepreneur is a risk taker; they take calculated risks whether formally or informally.They mostly take risk informally because they make calculations within their brain on what to buy, keep and sell later. They equally try to figure out the probability of success of their business once they are convinced that it is high, they will go into such business, which means they take risk.Entrepreneurs are not tired of trying. If they invest in any business and they fail, they still try another business so that they can succeed.
ABILITY To RECOGNIZE OPPORTUNITY: Entrepreneurs try their hand on opportunities that others bypass ; these opportunities may include:
* Meeting the demands that is not currently met.
* Pushing up a product that is better than what is currently in the market.
*Solving a problem that consumers have.
An entrepreneur has the following common characteristic:
* Desire for Independence;
* Self confidence;
* Willingness to take risk;
* Ability to recognize opportunity.
DESIRE FOR INDEPENDENT: One of the consistent characteristics of an entrepreneur is his desire for Independence. What it means is that an entrepreneur would want to work for himself /herself rather than work for others, They want to take decisions on their own.There is that believe that when you are fired from your former organization, you are likely to become a better entrepreneur. Because of this you are in a better position to take decision. A lot of people have resigned their position in organizations, to set up their own business. What they mostly tell you is that 'I can wake up at anytime to go to work' It means that it is independence they require.
SELF CONFIDENCE: There are two characteristics of an entrepreneur that leads him into having self confidence.
(a) self Motivation: Entrepreneurs set their own goals rather than having them set by their bosses. Since these goals are set by entrepreneurs, it means that they will be motivated to achieve those goals.
(b) Self Discipline: Every entrepreneur has self discipline, if not, the business will fail, Brown (1997) say " They correct errors and improve n their performance without any prompting from someone else. These are confidence people who believe in what they are doing and believe that the job is worth doing.
WILLINGNESS TO TAKE RISK: An entrepreneur is a risk taker; they take calculated risks whether formally or informally.They mostly take risk informally because they make calculations within their brain on what to buy, keep and sell later. They equally try to figure out the probability of success of their business once they are convinced that it is high, they will go into such business, which means they take risk.Entrepreneurs are not tired of trying. If they invest in any business and they fail, they still try another business so that they can succeed.
ABILITY To RECOGNIZE OPPORTUNITY: Entrepreneurs try their hand on opportunities that others bypass ; these opportunities may include:
* Meeting the demands that is not currently met.
* Pushing up a product that is better than what is currently in the market.
*Solving a problem that consumers have.
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