An entrepreneur is a person who spots and recognizes a business opportunity and who manages the business and bears the whole risk of the business.Here are the characteristics of an entrepreneur:-
1. Desire for independence
2. Should be self confident
3. He or she should be willing to take risk;
4. Should possess the ability to recognize opportunity
Desire for independence: One of the characteristics of an entrepreneur is desire for independence. An entrepreneur will always want to work for himself or herself rather than being employed and work for others.They want to take all the decisions. They won't have to wake up very early in the morning, prepare and start rushing to work. The crave to live the life of their dreams is what usually prompt many entrepreneurs to start up their own business.Many people have resigned their position in organizations to set up their own business as a result of desire for independence.
Self Confidence: Self confidence can be achieved through self motivation and self discipline.Self motivation is the ability to set goals and achieve the goals rather than have it set by others.Self discipline is what keeps the business going without which the business will crash..Entrepreneur correct errors and improve on their performance without waiting for someone else to prompt them.
Willingness to take risk: An entrepreneur must be willing to take calculated risk. He or she should be a bold risk taker formally or informally. They should use their brain to calculate what to buy, keep and wait for the right time to sell it.Before going into any business, entrepreneurs usually research and come up with a very good business plan and then venture into such business.Even if they venture into any business and fail,entrepreneurs are not tired of trying, they still try another business so that they can succeed.
Ability to recognize opportunity: Entrepreneurs possess the ability to recognize opportunity. They try many opportunities including those by-pass by others; these opportunities may include:
-Meeting demands not currently met in their environment.
-Creating alternative products to the existing products in the market.
-Solving present problem or annoyance consumers have.
Entrepreneur recognizes and make use of opportunities by creating products or services that will fill the vacuum identified.
1. Desire for independence
2. Should be self confident
3. He or she should be willing to take risk;
4. Should possess the ability to recognize opportunity
Desire for independence: One of the characteristics of an entrepreneur is desire for independence. An entrepreneur will always want to work for himself or herself rather than being employed and work for others.They want to take all the decisions. They won't have to wake up very early in the morning, prepare and start rushing to work. The crave to live the life of their dreams is what usually prompt many entrepreneurs to start up their own business.Many people have resigned their position in organizations to set up their own business as a result of desire for independence.
Self Confidence: Self confidence can be achieved through self motivation and self discipline.Self motivation is the ability to set goals and achieve the goals rather than have it set by others.Self discipline is what keeps the business going without which the business will crash..Entrepreneur correct errors and improve on their performance without waiting for someone else to prompt them.
Willingness to take risk: An entrepreneur must be willing to take calculated risk. He or she should be a bold risk taker formally or informally. They should use their brain to calculate what to buy, keep and wait for the right time to sell it.Before going into any business, entrepreneurs usually research and come up with a very good business plan and then venture into such business.Even if they venture into any business and fail,entrepreneurs are not tired of trying, they still try another business so that they can succeed.
Ability to recognize opportunity: Entrepreneurs possess the ability to recognize opportunity. They try many opportunities including those by-pass by others; these opportunities may include:
-Meeting demands not currently met in their environment.
-Creating alternative products to the existing products in the market.
-Solving present problem or annoyance consumers have.
Entrepreneur recognizes and make use of opportunities by creating products or services that will fill the vacuum identified.
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