Some of the following are considered as the principal characteristics that should be possessed by an entrepreneur:
Being their own boss: Entrepreneurs are people who would like to be their own boss. This is the most important characteristic. If one does not have a desire to be an entrepreneur then why should he take the risks associated with this career? This intent is a more important stimulus than making money, to create something new or to satisfy their self-actualization needs. Reporting to nobody, to be responsible only to themselves are some stages in life that many people care about.
Creative personalities:
Entrepreneurs are people with the new creative ideas in every stage of business undertakings. A creative idea in a new product or service, in new management styles, in new sales techniques, in new operations and manufacturing techniques is important to devise innovative ways to overcome difficulties or to start new ventures
Having an Internal Locus of
Control: An internal locus of control relates to a degree of one’s belief in one’s own skills and capabilities to create one’s own future. Entrepreneurs should have an internal locus of control . They should take the responsibility and should rely on their capabilities, efforts and high performance. The ones who believe most in fate and behave accordingly will always blame the environment and others for failure. They will always look for excuses if they run into some setbacks
Having Self-confidence: Entrepreneurs believe in themselves and their abilities to perform successfully. The ones who lack self-confidence will not be a good fit for an entrepreneur.
Optimistic People: Pessimists never start new businesses. They mostly scan the environment to seek threats not opportunities. Always seeing the facts negatively will not help start or operate a business. Entrepreneurs are made up of people who have optimism.
People with High Energy: Hard working, committed people who are very willing to spend hours in their work will have more possibilities of success. Entrepreneurship requires high energy to be spent on the job.
People with Vision: Original vision is as important in entrepreneurship as it is in leaders of communities. Starting a business begins with vision. Pursuing the vision makes people committed entrepreneurs.
People with Tolerance for Failure: Profit is called the brother of Loss. Although entrepreneurs seek business opportunities to make profit, they sometimes fail and face the loss. In business if you are committed and still believe in your innovations or ideas, you should have the tolerance for failure and setbacks. When entrepreneurs face such a failure, they should not be discouraged and disappointed. The business life is full of ups and downs. One should always pedal the bicycle continuously… sometimes slowly up the hill…sometimes rapidly down the hill…but always turning the pedals.
