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Top 15 Characteristics of an Entrepreneur
by Midson Entreprenuernetwork MEN is a platform for Entreprenuers to collectivelEntrepreneur is whole and sole of the business. It is the foresight, vision and hard work of the entrepreneur, the business flourishes and catapults to new heights of growth and success. The success and failure of any business is marked by the work and inputs of its owner. If the owner is sincere enough and hardworking, the business is bond to reap fruits of profits and success. On the other hand if the entrepreneur is careless, does not have willingness to work hard, then the business is bond to suffer heavy losses.
Here are top 15 characteristics of an Entrepreneur:
1. Risk taking: Every entrepreneur should have the capacity to take risk. Risk taking ability makes the entrepreneur ready to face challenges imposed by government, competitors and the market. It also enables him to expand the business and introduce new changes. An entrepreneur should have risk taking capacity as it will not only make him confidence to face threats and weakness but also will prepare him to manage his strength and opportunities well.
2. Foresight: Foresight and ability to foresee opportunities and threats well in the beginning is what a successful entrepreneur should possess. This attribute will make the entrepreneur realize what is in store for future in the business and based on his foresight and current market and government policies, he can calculate the future and formulate business policies accordingly.
3. New ideas: They should possess capacity to possess new ideas and formulate ways to execute it. As environment is advancing and new challenges are put up everyday; entrepreneur has to have new ideas in his kitty so that he can meet the growing challenges easily. He should have information of new services and new inventions, and should be clever enough to incorporate these new changes in the business.
4. Creative: Creativity is the need of the hour. Consumers like new and creative things around them. Entrepreneur has to be creative and he should use his creative skills and knowledge to make new changes in his business.
5. Looking for opportunity: He should always look for or searching for opportunity and should be ever ready to exploit it in the best interests of the organization.
6. Persistence: An entrepreneur should never be disheartened by failures and he should go by the philosophy that failures are stepping stones to success. He should leave no stones unturned and overcome all his obstacles that comes in the way of achieving goals by trying again and again hard.
7. Information seeker: Entrepreneur should always keep his eyes and ear open and should be willing to consider or accept new suggestions and ideas that will help him in realizing his business goals.
8. Quality consciousness: Entrepreneurs should never believe in average or moderate performance. He should set high standards of quality and then put in the best for achieving these standards. He should always believe in excellence; that should be reflected in everything he does.
9. Commitment to work: Entrepreneurs should be committed to work and must be prepared for making all kinds of sacrifices for transpiring those commitments to reality. He takes the commitment as moral binding and work it out irrespective of all costs involved.
10. Planning: Planning is the road map for success. Proper planning helps the entrepreneurs to reach their goals by formulating policies and strategies. Entrepreneur should develop relevant and realistic plans and ensure proper execution of the same in their pursuit of attaining their goals.
11. Assertive: He should be assertive and should believe in his abilities and ensure that others fall in line with the thinking, aimed at promoting the interests of the organization.
12. Effective monitoring: He should monitor that everything is carried out in the organization as per the policies framed. They ensure that work is monitored regularly so that goals of the organization are achieved in the best possible manner.
13. Employee’s welfare: Future and the performance of the organization depends on its employees and entrepreneur should work out policies for employees welfare. He should promote employees interests through promotion of interests of the workers. He should generate feeling that there is interdependence of interests of workers and management.
14. Effective strategist: Entrepreneur should possess ability to evolve relevant strategy; that is aimed at safeguarding or promoting organization’s interests. Strategies may take the form of facing future uncertainties or challenges posed by competitors.
15. Problem solver: Lastly every entrepreneur should have problem solving ability. He should take problem as challenge and put in their best for finding solutions for the same. He should understand the problem and formulate strategies for overcoming it.
Here are top 15 characteristics of an Entrepreneur:
1. Risk taking: Every entrepreneur should have the capacity to take risk. Risk taking ability makes the entrepreneur ready to face challenges imposed by government, competitors and the market. It also enables him to expand the business and introduce new changes. An entrepreneur should have risk taking capacity as it will not only make him confidence to face threats and weakness but also will prepare him to manage his strength and opportunities well.
2. Foresight: Foresight and ability to foresee opportunities and threats well in the beginning is what a successful entrepreneur should possess. This attribute will make the entrepreneur realize what is in store for future in the business and based on his foresight and current market and government policies, he can calculate the future and formulate business policies accordingly.
3. New ideas: They should possess capacity to possess new ideas and formulate ways to execute it. As environment is advancing and new challenges are put up everyday; entrepreneur has to have new ideas in his kitty so that he can meet the growing challenges easily. He should have information of new services and new inventions, and should be clever enough to incorporate these new changes in the business.
4. Creative: Creativity is the need of the hour. Consumers like new and creative things around them. Entrepreneur has to be creative and he should use his creative skills and knowledge to make new changes in his business.
5. Looking for opportunity: He should always look for or searching for opportunity and should be ever ready to exploit it in the best interests of the organization.
6. Persistence: An entrepreneur should never be disheartened by failures and he should go by the philosophy that failures are stepping stones to success. He should leave no stones unturned and overcome all his obstacles that comes in the way of achieving goals by trying again and again hard.
7. Information seeker: Entrepreneur should always keep his eyes and ear open and should be willing to consider or accept new suggestions and ideas that will help him in realizing his business goals.
8. Quality consciousness: Entrepreneurs should never believe in average or moderate performance. He should set high standards of quality and then put in the best for achieving these standards. He should always believe in excellence; that should be reflected in everything he does.
9. Commitment to work: Entrepreneurs should be committed to work and must be prepared for making all kinds of sacrifices for transpiring those commitments to reality. He takes the commitment as moral binding and work it out irrespective of all costs involved.
10. Planning: Planning is the road map for success. Proper planning helps the entrepreneurs to reach their goals by formulating policies and strategies. Entrepreneur should develop relevant and realistic plans and ensure proper execution of the same in their pursuit of attaining their goals.
11. Assertive: He should be assertive and should believe in his abilities and ensure that others fall in line with the thinking, aimed at promoting the interests of the organization.
12. Effective monitoring: He should monitor that everything is carried out in the organization as per the policies framed. They ensure that work is monitored regularly so that goals of the organization are achieved in the best possible manner.
13. Employee’s welfare: Future and the performance of the organization depends on its employees and entrepreneur should work out policies for employees welfare. He should promote employees interests through promotion of interests of the workers. He should generate feeling that there is interdependence of interests of workers and management.
14. Effective strategist: Entrepreneur should possess ability to evolve relevant strategy; that is aimed at safeguarding or promoting organization’s interests. Strategies may take the form of facing future uncertainties or challenges posed by competitors.
15. Problem solver: Lastly every entrepreneur should have problem solving ability. He should take problem as challenge and put in their best for finding solutions for the same. He should understand the problem and formulate strategies for overcoming it.
By Midson Entrepreneur Network
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About Midson Entreprenuernetwork 
MEN is a platform for Entreprenuers to collectivel
0 connections, 0 recommendations, 4 honor points.Joined APSense since, August 21st, 2017, From Delhi, India.
Created on Sep 12th 2017 05:33. Viewed 374 times.
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