Young businessmen stories sometimes in the past once described entrepreneurs as "a group of exceedingly talented, independent and daring young men and women who are taking the business scene by storm. They are often jet set in orientation, dazzling in style, and infected with unbridled optimism in outlook."
That perception possibly explains the glamour that is associated with an entrepreneural career, but it does not say much about what, in essence, an entrepreneur is or does. Collins Concise English Dictionary defines him as "the owner or manager of a business enterprise who by risks and initiative, attempts to make a profit." He organizes the factors of production. i.e land, labour, capital and his own enterprise to transform a business idea into profitable reality. The risk referred to in the definition arises from the fact that these factors or resources are committed now, in expectation of a reward that lies in the future and may not happen.
The desire to make money is only one of the motives for embarking on entrepreneurship. Others are:
1. A desire to be independent. i.e be one's own boss.
2. A craving for challenge.
3. A need for self fulfillment through proving to oneself that one has ability to succeed and
4. The glamour attached to entrepreneurship.
To succeed, there would be entrepreneur needs to have certain attributes which, in a manner or speaking, are is qualification for the job. They are:
Dynamism. This is unusually characterized by a strong personality, ability and energy. It is what keeps a person "on the goal" if one is not dynamic, one is static.
Confidence. This is another word for self assurance. It gives one a brief in what one is doing ancing orders that it means business.
Courage. Entrepreneurship is fraught with risks and frustrations, and could become a test of one's ability to face difficult situations comma and not be easily put off by setbacks. Courage is the quality that makes one carry on in spite of setbacks.
Imagination. Success in business depends, impact, on the ability to generate ideas and to deal resourcefully with unexpected on usual problems. And imaginative person would have disability.
Taste for risk. This attribute is at the center of an entrepreneur's makeup, and refers to his readiness to take a chance in a situation of uncertainty. This is not to be confused with rashness comma which suggest action without due consideration of the positive consequences.
Prudence. Taking a risk is one thing, but Prudence which means due care in the management resources is also important. It is often said that the most frequent cause of business failure in some countries is reckless extravagance and the misuse of financial resources.
Good judgment. Doing business involves taking decision and making choices. Good judgment is The faculty or being able to make critical distinction and achieve a balance viewpoint.
Leadership. And entrepreneur must have the quality of being able to initiate actions and to organize, guys, inspire and motivate others. This is what being the boss is all about.
Willingness to learn. Being the boss does not mean that one is all knowing. One should develop a disposition to pick up and store knowledge and use it..
Vision this is best described as clear perception especially of future development. A person revision and imagination we most likely being innovative as well.
Hard work. Ability to work hard is an indispensable ingredient of success, weather in business or in some other calling.
Known of this suggestions that one must be a paragon - an "exceedingly daring, dazzling" jet setter to start a business. But in the course of managing and Enterprise, one is frequently facebookations that require s of one or more of the attribute listed above. Surfer should indicate to the entrepreneur those aspects of personality that need for the development. If so development is not possible, then it makes sense for him, in selecting business partners or staff, to find people whose qualities supplement his own.
Dimma Chris
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