Personal Characteristics Of A Successful Entrepreneur

The definition of entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of a new business. (Definition and Meaning, n.d.) The importance of entrepreneurship plays a vital role in the growth of the U.S. economy. As the primary source for information on the nation s labor market, the U.S. Bureau of Labor Statistics collects data on new business and job creation. (Business Establishment Age, n.d.) In the U.S., economy entrepreneurs are businessmen and businesswomen who create employment, pay taxes, and more of than not, they start something new in the market which stimulates the economy. Personal characteristics of a successful entrepreneur include the ability to take risks. To be a successful entrepreneur there is a huge need to have a lot of drive and persistence. Passion and resilience play a big role in the characteristics of an entrepreneur. Sir Winston Churchill once said, Success is the ability to go from one failure to another with no loss of enthusiasm. As an entrepreneur, you are going to fail at one thing or many things at one time or another. That is just an unfortunate fact. While something that drastic would be too much for most to handle, an entrepreneur has the uncanny ability to get up and dust themselves off. Instead of giving up, an entrepreneur will learn from their failures (5 PersonalityShow MoreRelatedThe Successful Entrepreneurs1264 Words   |  6 PagesBUSINESS MANAGEMENT ( FMG0044 ) ASSIGNMENT 1 : â€Å" THE SUCCESSFUL ENTREPRENEURS † Lecturer : Sir Azizi Name : 1) Ahmad Zul Iqmal B. 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This collective information and some reading on entrepreneurship journals, books and articles have brought to the idea on writing this paper, towards certain perspective, on successful entrepreneurialRead MoreCharacteristics of a Successful Entrepreneur Essay1598 Words   |  7 PagesCharacteristics of a Successful Entrepreneur ABSTRACT First, there was an interview with a successful entrepreneur. Second, there was a talk on entrepreneurship by a guest speaker, Mr. Azmi Ahmad (the CEO of Skali.com) and later, an elevator speech by fellow students on various issues related to entrepreneurship. This collective information and some reading on entrepreneurship journals, books and articles have brought to the idea on writing this paper, towards certain perspective, on successful