What personal traits are considered important to the entrepreneur? Find the answer here! This entrepreneurial personality essay focuses on the importance of characteristics necessary for a successful business career.
Introduction
An entrepreneur is an individual who sets up and administers a business for the main purpose of making profit. In the present world, entrepreneurship is paramount in fueling the growth of the economy and providing employment opportunities.
Anyone can become an entrepreneur but not everyone is suited for successful entrepreneurship. Most successful entrepreneurs share certain personality traits that give them a comparative advantage over their competition. This essay explores the personality traits required to be a successful entrepreneur.
Personal Traits Important to the Entrepreneur
Determination is one of the personality traits that an entrepreneur should possess in order to increase their chances of being successful. Determination is a very intense longing to achieve success. The trait requires a lot of persistence and the ability to recover in case of a period of downturn.
It is not easy to attain success within a short time. Therefore, an entrepreneur should exercise a lot of patience and should not easily give up when things go wrong .
Dedication is another important personality trait of a successful entrepreneur. Entrepreneurs should dedicate themselves towards the accomplishment of their objectives and visions. Having focus and being dedicated enables an entrepreneur to be more successful in his or her business ventures.
Starting a business requires hard work and a lot of effort. Regardless of numerous difficulties, an entrepreneur should be dedicated to all tasks by working towards a positive outcome and to be willing to ask for assistance once in a while.
Self confidence, being another personality trait enables an entrepreneur to be assertive in achieving their own interests in a way that is socially recognized. Self confidence usually results from thorough planning which decreases uncertainty rates and risk levels.
Self confidence should be sufficient enough in order to successfully achieve planned profits. When an entrepreneur is skilled and knowledgeable, self confidence comes naturally. The confidence also gives them the ability to listen to the opinions of other people without feeling intimidated .
Creativity and innovation are very important traits that an entrepreneur should possess. Being innovative enables an entrepreneur to develop fresh and improved products to be able to survive in the competitive world of business.
This trait also encourages the entrepreneur to constantly learn, question and think outside the box in order to be in line with the ever changing technology. With fresh and improved products and services, an entrepreneur is more likely to be successful in the world of business.
Interpersonal reactivity is essential in entrepreneurial life because it enables an entrepreneur to put himself or herself in the position of another person.
The entrepreneur who possesses this trait has the ability to approach other business people and develop a relationship that is intended to be beneficial.
Research says that sufficient levels of interpersonal reactivity enables an entrepreneur to produce products that are client oriented hence success in the business is more likely .
Conclusion
All business ventures have their fair share of upturns and downturns. Success does not come immediately to an entrepreneur instead it takes a lot of time. Every entrepreneur possesses the above personality traits but in different degrees. Every skill and trait can be achieved through practice and learning.
Therefore, any entrepreneur can achieve the above traits after some time. The entrepreneur can also hire a person who has the admirable strengths to take care of his or her business to better and greater heights.
Reference List
Action Coach. (n.d). 12 Essential Characteristics of an Entrepreneur. Web.
Caliendo, M., & Kritikos, A. (2007). Is Entrepreneurial Success Predictable? An Ex-Ante Analysis of the Character-Based Approach. Web.