Business blog

Q&A - What is an entrepreneur and what characteristics do entrepreneurs need to succeed?

A student asks:

What is an entrepreneur and what characteristics do entrepreneurs need to succeed?

There has been much research into what makes a successful entrepreneur.  Amongst the charactertistics commonly identified are:

Passionate about their product or service and about getting things right for the customer
Visionary – they have faith in what they are trying to do
Energetic and driven – prepared to work consistently long hours, especially in the early stages
Self-starting and decisive – they don’t wait for others to take decisions
Calculated risk-taking – not reckless; they are prepared to take a risk in order to maximise the rewards
Multitasker – able to take on more than one role (product development, selling, recruitment)
Resilient – able to handle problems and overcome hurdles
Focused – sets clear goals and self-imposed high standards
Results-orientated – take pleasure from achieving targets and setting the bar higher

The important thing to remember about the list above is that an entrepreneur is unlikely to possess all these characteristics!  Anyone who starts a business has strengths and weaknesses.  However, the savvy entrepreneur recognises where his/her weaknesses lie and takes steps to address them (e.g. recruit someone with the right skills).

Featured
CPD courses

WOW! Business 2015

WOW! Business 2015, tutor2u's resource packed CPD for ALL business teachers, provides delegates with a brand new set of teaching resources and effective approaches that can be used immediately within the classroom. Not to be missed!

Learn more ›

Teaching & learning products

AQA BUSS1 Worked Answers (2013-2014)

Exemplar A grade answers to the three BUSS1 exam papers in 2013 and 2014

£5.00

AQA BUSS3 Revision Guide

The leading quick revision guide for BUSS3. This 20 page full colour guide provides a concise overview on the key knowledge that students need to apply to the BUSS3 exam case study together with advice on exam technique.

£4.00