Main Characteristics of an Entrepreneur

Main Characteristics of an Entrepreneur

Main Characteristics of an Entrepreneur

An entrepreneur is a person who creates something new and assumes the risks and rewards associated with that innovation. The entrepreneur is usually seen as an innovator, a source of new ideas, goods, services, and business/or procedures. An entrepreneur is a person who creates something new and assumes the risks and rewards associated with that innovation. There are some characteristics of an entrepreneur. These are as follows:

Hard work: Most of the successful entrepreneurs work hard endlessly. This willingness to work hard distinguishes a successful entrepreneur from an unsuccessful one.

A desire for high achievement: The entrepreneurs have a strong desire to achieve high goals in business. This high achievement motive supports them to do something novel.

Highly optimistic: The successful entrepreneurs are not disturbed by the present problems faced by them. They are always optimistic about the future.

Independence: The entrepreneurs do not like to be guided by others and follow their routine. They liked to be independent in the matters of their business.

Foresight: The entrepreneurs have a good foresight about the future environment. They can imagine the likely changes to take place in the market, consumer attitude, technological developments, etc. and take timely actions accordingly.

Good organizer: Factors of production are divorced from each other. Entrepreneurs bring together-ail resources to produce goods.

Innovative: The entrepreneurs initiate research and innovative activities to produce goods to satisfy the customers changing demands for the products. This is why they are always innovative. So, these are the various characteristics of an entrepreneur.

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