Vic Ahmed, the founder of Innovation Pavilion, can be considered a successful entrepreneur as he can take risks, which is one of a businessman’s essential qualities. A successful entrepreneur should know when businesses bring benefits and whether it is worth concentrating on a particular case. One of the most important business qualities is being creative and finding unusual solutions in an ordinary situation.
Furthermore, decisiveness also has its value; as long as an entrepreneur does not maintain this quality, a start-up may go bankrupt unless a new good idea has not been implemented promptly. Moreover, cooperation is the ability to find competent mutual contact with people to attract venture investors. Business is a social activity based on beneficial commercial relationships among personalities. People have different characters, thus, communication is an essential quality of a successful entrepreneur.
The Steven Case “Rise of the Rest” runs bus tours to introduce investors to aspiring entrepreneurs across the country. It serves Ahmed and Case’s business goals as this kind of investment benefits all stakeholders. For instance, more job opportunities are created, wealth is growing, more quality products are introduced to the market (Okrah et al., 2018). Moreover, it helps society cope with changes in the labor market. The fund serves to harness and enhance the potential of previously forgotten but developing cities in the United States and create an expanded network of start-ups off the coast. The involved entrepreneurs perceive the initiative not as a charitable act but as a real opportunity to receive their share of the profits from the millions that the invested companies can earn (Okrah et al., 2018). In addition, by investing in unpopular firms, business people can stimulate those regions that most need to attract funds.
Start-ups that operate in smaller cities, where it is complicated to find capital, talent, usually face particular challenges. Nevertheless, many of them become successful businesses, relying only on their strength. The factor determining their progress is based on a balanced approach to gaining profit. These start-ups focus on long-term investment in people and resources. Self-reliant innovators tend to avoid risk-taking; instead, they prioritize growth and profitability, including resilience in their business model, charge for value from the start, and long-term study.
Reference
Okrah, J., Nepp, A., & Agbozo, E. (2018). Exploring the factors of start-up success and growth. The Business & Management Review, 9(3), 229−237.