Qualities of a good entrepreneur


Qualities of a good Entrepreneur!!!
Entrepreneur is a person who exploits opportunity and takes initiatives to pursue it. In Peter
Drucker’s term, entrepreneur is someone who uses the innovation as a tool to convert sources to
resources. Entrepreneur is also the economic catalyst with the higher need for achievement by
taking the moderate risk. For an individual to succeed as an entrepreneur, he/she should have the
following attributes;
Good interpersonal skill: An entrepreneur needs to deal with different types of people. So, one
should have good communication skill to run the enterprise smoothly and to achieve the desired
goals.
Confidence: Confidence can be considered as a form of energy required to achieve desired
goals. An entrepreneur should be confidence in oneself and in their own ideas. Dealing
confidently with employees, customers, partners, investors, lawyers is important ti get the things
done.
Passion: Successful business is based on the passion of an entrepreneur. One should devote
massive amount of time, resources and energy to the business and should be motivated all the
time. Passion for the venture is more important desirable trait for an entrepreneur.
Willingness to take risk: An entrepreneur should have the willingness to take risk to succeed.
Taking calculated risk may prevent the entrepreneur to get unexpected and unpleasant results.
Good entrepreneur are always willing to take the calculated risk.
Management of time: An entrepreneur should be efficient in time management. It helps in
organizing oneself and gets the work done effectively. An entrepreneur should not procrastinate
when working alone.
In addition, to succeed as an entrepreneur, one should have high internal locus of control, good
team spirit, right team of people, an advice network etc. The most important characteristics of
successful entrepreneur (Source: The Portable MBA in Entrepreneurship, 4thEdition) can also be
shown as follows:
· Dream
· Decisiveness
· Doers
· Determination
· Dedication
· Devotion
· Details
· Destiny
· Dollars
· Distribute

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