Characteristics of Entrepreneur/ Traits of an entrepreneur
1. Creativity.
2. Professionalism.
3. Risk-taking.
4. Passion.
5. Planning
6. Knowledge.
7. Social Skills.
8. Open-mindedness towards learning, people, and even failure.
9. Empathy
10. Customer is Everything
1. Creativity:
Entrepreneurs usually have the knack to pin down a lot of ideas and act on them. Not necessarily every idea might be a hit. But the experience obtained is gold. Creativity helps in coming up with new solutions for the problems at hand and allows one to think of solutions that are out of the box. It also gives an entrepreneur the ability to devise new products for similar markets to the ones he’s currently playing in.
2) Professionalism:
Professionalism is a quality which all good entrepreneurs must possess. An entrepreneurs mannerisms and behavior with their employees and clientele goes a long way in and discipline. Self-discipline enables an entrepreneur to achieve their targets, be organized and set an example for everyone.
Reliability results in trust and for most ventures, trust in the entrepreneur is what keeps the people in the organization motivated and willing to put in their best. Professionalism is one of the most important characteristics of an entrepreneur.
3) Risk-taking:
Risk-taking ability is essential for an entrepreneur to discover something unique which makes all the difference. entrepreneurs are always ready to invest their time and money. But, they always have a backup for every risk they take. Also, evaluation of the risk to be undertaken is also essential. Without knowing the consequences, a good entrepreneur wouldn’t risk it all.
4) Passion:
Passion acts as a driving force, with which, entrepreneurs are motivated to strive for better. At the beginning of every entrepreneurial venture or any venture, there are hurdles but passion ensures that entrepreneurs are able to overcome these roadblocks and helps in attaining their goal. With passion they are willing to put in those extra hours to make the business succeed because there is a joy their business gives which goes beyond the money.
Hence Passion is the most important trait of the successful entrepreneur.
5) Planning:
Planning is the most important of all steps required to run a business with which every action would be effective to attain goals. Planning is strategizing the whole game ahead of time. It basically sums up all the resources at hand and enables to come up with a structure and a thought process for how to reach the goal.
6) Knowledge:
Knowledge is the key to success. An entrepreneur should possess complete knowledge of his industry. It enables him to keep track of the developments and the constantly changing requirements of the market that he is in. May it is a new trend in the market or advancement in technology or even a new advertiser’s entry, an entrepreneur should keep himself abreast of it. He should know what his strengths & weaknesses are so that they can be worked on and can result in a healthier organization.
7) Social Skills:-
Social Skills are also needed to be a good entrepreneur. Overall, these make up the qualities required for an entrepreneur to function. Social Skills involve the following Relationship Building, Hiring and Talent Sourcing,Team Strategy Formulation.
8)Open-mindedness towards learning, people, and even failure:
An entrepreneur must be accepting the true scenario or event happening that can be a useful opportunity. To recognize such opportunities, an open minded attitude is required. An entrepreneur should be determined. He should face his losses with a positive attitude and his wins, humbly.
9)Empathy:
Empathy is the understanding of what goes on in someone’s mind. A good entrepreneur should know the strengths and weaknesses of every employee who works under him. He must understand that it is the people who make the business tick. For with empathy, an entrepreneur can definitely reach the hearts of employees and the success he desires. Hence empathy is one of the most important characteristics of an entrepreneur.
10) The customer is everything:
A good entrepreneur will always know that a business is all about the customer. Grabbing a customer’s attention is the first step for which it is important to sense and know the needs of the customers. Personalizing a business for consumers will also boost the sales. The ability to sell in front of a potential investment when it comes in the form of a customer is also required. Being ready with the knowledge to please a customer, is a way to have a successful business
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