An outline of the characteristics of successful entrepreneurs

1. CHARACTERISTICS OF A
SUCCESSFUL ENTREPRENEUR
PREPARED BY SANDREA BUTCHER

2. CREATIVITY
• ENTREPRENEURS DEVELOP NEW IDEAS, NEW CONCEPTS AND NEW WAYS OF
SOLVING PROBLEMS
• CREATIVITY IS SUBJECTIVE
• FOR EXAMPLE, THEY DISCOVER NICHE MARKETS

3. INNOVATIVE
• Innovation introduces change (for example with an existing product)
• Innovation is observed when a new idea is converted into a successful product
• This means that innovation is measurable
• Samsung E300 Samsung Galaxy S8 Edge

4. FLEXIBILITY AND MULTI-SKILLED
• ENTREPRENEURS HAVE TO CARRY OUT DIFFERENT TASKS IN DIFFERENT AREAS
(HUMAN RESOURCES, ACCOUNTS, PROMOTION)
• ENTREPRENEURS CAN CHANGE APPROACHES WHEN NECESSARY

5. GOAL ORIENTED
• GOALS ARE TARGETS
• THESE TARGETS WILL BE SET FOR THEMSELVES AND THE PEOPLE THEY EMPLOY
• THE ENTREPRENEUR SHOULD BE CLEAR ABOUT THE AIMS OF THE BUSINESS AND
WHAT HE HOPES TO ACHIEVE

6. PERSISTENT
• ENTREPRENEURS SHOULD NOT BE EASILY DISCOURAGED
• THEY SHOULD KEEP GOING IN THE FACE OF ADVERSITY
• THEY SHOULD RETHINK IDEAS WHEN THE BUSINESS SEEMS AS IF IT IS FAILING
I wonder if he
knows that
the mountain
gets steeper.
One step at a
time… I can
do it

7. PERSEVERING
• THIS MEANS THAT THE ENTREPRENEUR KEEPS TRYING UNTIL HE OVERCOMES
ANY OBSTACLE.
Finally I
have done
it!

8. PROPENSITY TO TAKE CALCULATED RISKS
• ALL BUSINESS VENTURES WILL ENTAIL RISKS.
• ENTREPRENEURS WILL CALCULATE THE COSTS AND THE BENEFITS.
• THEY WILL ONLY PURSUE A VENTURE IF THEY BELIEVE THEY WILL EARN A PROFIT.