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Keywords
Characteristics of an Entrepreneurs
| Term | Definition |
|---|---|
| Confident | Entrepreneurs believe in themselves and have confidence in their own abilities.They believe in their product or idea. |
| Flexible | Entrepreneurs can respond to changes as they arise. They can change their approach when things go wrong and plans do not work out as expected. |
| Realistic | Entrepreneurs recognise their own limitations and seek advice if necessary. They are realistic when setting goals. They have good judgement and will only attempt what is achievable. |
| Risk Takers | Entrepreneurs have the capacity to work with uncertain situations. They are prepared to take calculated risks to succeed in business. They are prepared to risk personal assets and will risk their personal reputation in pursuit of business success. |
| Decision making | Entrepreneurs analyse information and situations, think logically and make quick and clear decisions. They are able to evaluate alternatives and choose a definite course of action. |
| Leadership | Entrepreneurs are able to get on well with people and get people to work well together in teams. |
| Communication | Entrepreneurs must communicate well with all the parties in business. They must be able to relate well to people and be able to get their ideas across to others. |
| Energy | Entrepreneurs are full of energy and eager to work. They are hard working people who stick with a task until it is completed. They demonstrate high levels of energy, work long hours, take few holidays. |
| Innovative | This is the skill of coming up with new ways of making or doing things, i.e. applying ideas to new situations. Entrepreneurs are capable of coming up with new ways of making or doing things using their imagination and applying ideas to new situations. |
| Independent | Entrepreneurs want to be in charge. They like to do things their own way and dislike being controlled by others. |
| Opportunistic | Entrepreneurs are always on the lookout for opportunities, seeing a gap in the market and seizing the opportunity. They are proactive rather than reactive. |
| Motivated | Entrepreneurs demonstrate a driving need for achievement and success. They are ambitious.Enterprising people are willing to put in the hours and hard work to succeed to achieve their goals. |
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