an entrepreneur is someone who is able to identify opportunities and act on them by entering into a...

An entrepreneur is An entrepreneur is someone who is able to someone who is able to identify opportunities identify opportunities and act on them by and act on them by entering into a venture (a entering into a venture (a business enterprise business enterprise involving some risk)involving some risk)

No two entrepreneurs No two entrepreneurs are exactly alike, yet are exactly alike, yet they may share common they may share common traitstraits

These characteristics can These characteristics can be learned with practicebe learned with practice

Enterprising people, also known as intrapreneurs, bring entrepreneurial characteristics to the workplace or other organizations.

They do not start their own ventures but do contribute to the ventures of others by solving problems and exploiting business opportunities

Take charge without being asked; self motivated; team player

SELF-CONFIDENT Successful

entrepreneurs are realistic about what they can accomplish

They believe in themselves and in their ability to succeed

They set attainable goals and approach them with confidence

PERCEPTIVE

Entrepreneurs are intuitive. They know what is going on. They are able to identify problems as they arise and find creative solutions.

HARD-WORKING Entrepreneurs work

long and hard to achieve success.

A successful entrepreneur needs the stamina that comes from good physical and mental health.

To maintain energy, entrepreneurs must carefully balance their commitment to work with their commitment to other aspects of their lives, such as family and friends.

MOTIVATED

Entrepreneurs are driven by an internal need for accomplishment.

They will actively seek opportunities for success, both at work and elsewhere.

RESOURCEFUL

Entrepreneurs explore, ask questions, and generally use all their resources to find ways to achieve their goals.

They often develop a broad network of associates who can help them find ways to overcome obstacles in their paths.

ABLE TO MANAGE RISKEntrepreneurs view risk as a challenge to be

overcome. They calculate and measure it and look for ways to

gain control over the outcome. Entrepreneurs will take a risk if it is a calculated one—

where the chances for success are greater than the chances for failure.

They are willing to take on a certain degree of risk because of the potential rewards involved in being agents of change.

CREATIVE

Entrepreneurs look at the world in new and different ways.

They enjoy challenges and feel comfortable with ambiguity.

They do not sit and wait for things to happen.

Instead, entrepreneurs take charge of shaping the world around them in a way that benefits them and others.

GOAL-ORIENTED

Entrepreneurs work determinedly toward goals they have set for themselves.

Once their initial goals are achieved, they set new goals and begin the process again.

Personal satisfaction and the need for accomplishment give them momentum as they continue to move forward.

OPTIMISTIC

Entrepreneurs have a positive mental attitude.

Minor setbacks or roadblocks do not discourage them.

They believe they can touch the future and are enthusiastic about what it holds.

FLEXIBLE

Entrepreneurs are able to adjust to the changing marketplace, to technology, and to competition.

If one idea doesn’t work the way they expect, they look for other options.

INDEPENDENT

Entrepreneurs need the freedom to make their own decisions and their own mistakes.

They do not respond well to being managed by others. For this reason, they often leave secure jobs to move out on their own.

Being the person in charge gives them control over their own destiny.

VISIONARY

Entrepreneurs have a vision of how things should be in the future.

This is what gives them the strength to continue step by step toward their goals.

To bring about the changes they foresee, they must not only understand their vision themselves but must also be able to communicate it to others.

ABLE TO GET ALONG WITH OTHERS

Entrepreneurs seldom work alone. Most gather a team around them, carefully choosing team members who will help them realize their goals.

Successful entrepreneurs have insight into the abilities and personalities of others, which enables them to build an effective team.

Entrepreneurial Skills In addition to entrepreneurial

characteristics, entrepreneurs require certain skills to ensure success ventures

Having a skill means that you have the ability to do something specific – carpenters have woodworking skills, chefs have cooking skills, and doctors have diagnostic skills

These skills can be learned, but sometimes an entrepreneur must enter into a partnership or hire people with skills to complement their own

It is easier to learn a skill that it is to develop a characteristic.

Skills enable you to translate knowledge into action. To be successful, entrepreneurs need a variety of skills including research, management, and relationship skills.

Skills InventoryGood

CommunicatorsGenerate IdeasMake DecisionsSolve problemsNegotiateLead Others

Identify Opportunities

PlanOrganizeNetworkMarket Their IdeasKeep Records

(financial and others)

ACTIVITY Get into groups of three or four. Draw a picture detailing the anatomy

of an entrepreneur. The picture can be of anything (a

person, a tree, etc.), but it should show as many of the characteristics of an entrepreneur as possible.

Each group will present their completed picture explaining the characteristics they interpreted.