Webster’s dictionary states that the entrepreneur is one who assumes the responsibility and the risk for a business operation with the expectation of making a profit (Guralnik 205). The entrepreneur generally decides on the product, acquires the facilities, and brings together the labour force, capital, and production materials. If the business succeeds, the entrepreneur reaps the rewards of profits; if it fails, he takes the loss.

Being a self-starter often means being the prime mover for getting things done on a daily basis. They’re patient, e

Many of the characteristics that help people succeed in the entrepreneurial stage of a company become problematic in the long run. The best entrepreneurs are able to modify that “over confident” mentality and become somewhat more like the CEO’s of bigger companies, a little more deliberate. Adjustments need to be made in order to succeed, whether it is personal or not. What makes an entrepreneur, as a whole, comes from personal characteristics and traits. These traits are the foundation that can be built upon to become a success.

Being part of groups or organizations is common with most entrepreneurs. They are outgoing people who love social contact and genuinely enjoy meetings and groups. The contacts they often make within these groups are very helpful to their businesses. Having contacts are great when it comes to solving problems that are unknown to yourself.

Creativity is a great trait to have, but isn’t critical. It is important to know the creative thought process. It may come in handy one day to solve your own problems, or you may have to manage creative people and you need to know what motivates them. Creativity is a valuable asset when you can use it to anticipate change in the business environment.

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