Monday, 29 July 2013

Characteristics of Successful Entrepreneurs

Entrepreneurs are the economic heroes of modern society. Collectively their drive, energy and perseverance have produced high growth ventures with disproportionate impact on the economy.
An analysis of the characteristics of successful entrepreneurs confirmed that these entrepreneurs have much in common but they also differ widely. Thus, there is no universal set of characteristics distinguishing entrepreneurs from other human beings. Furthermore, there is no single set of attitudes and behaviours that every entrepreneur must have for every venture opportunity. What is required in each situation depends on the mix of key players and how promising and forgiving the opportunity is given the founder’s strength and shortcomings.
        Despite inherent differences there is consensus that successful entrepreneurs share a constellation of personality traits. Burch (1986) identified nine of the most salient personality traits of an entrepreneur. He describes an entrepreneur:
-      Someone with a drive to achieve;
-      Someone who is hardworking and has nurturing qualities. The person should be willing to accept responsibility.
-      Be optimistic; and
-      Must be a good organizer. Furthermore the entrepreneur must be reward, money and excellence oriented.

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