Entrepreneurship And Small Business Management

Entrepreneurship And Small
Business Management
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Table of Contents
Introduction.....................................................................................................................................3
Traits and skills that are crucial for successful entrepreneur.......................................................3
Relation between entrepreneurial mind set and personality........................................................4
Experience and Backgrounds hindered or fostered entrepreneurship.........................................5
CONCLUSION...............................................................................................................................5
REFERENCES................................................................................................................................6
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INTRODUCTION
Entrepreneurship is the best way to set up a new firm or business by focusing different
risks related to it such as managerial or financial. The current report is based on Bill Gates and
Richard Branson known as successful entrepreneur in the world. This study explains the traits
and skills that is essential for successful entrepreneurs, relation between entrepreneurial mind set
& personality and also define how personality reflects on his or her motivation. Furthermore, this
assessment also justified backgrounds & experiences fostered or hindered entrepreneurship.
Traits and skills that are crucial for successful entrepreneur
Different skills and characteristics traits are very important for entrepreneurs to set up a
successful business and enhance their growth.
Three skills-
Willingness to learn-
To become a successful entrepreneur, person need to develop and improve some specific
skills because it helps in their professional career growth. Willingness to learn something new is
one of the skills that every successful entrepreneur must has, some people think that learning will
stops when individual graduate university, but this is not true. When person always seek to gain
new knowledge and never stop learning, they can be a successful and great businessman.
Individual always stay updated with changes in technology and business environment which
make them to become the best business person.
Ability to listen-
Without having specific skills, a person cannot be able to become successful
entrepreneur. Listening is one of the most essential skill for successful businessmen, when they
have the ability to listen other opinion carefully a person can manage skilled workforce and
encourage as well as motivate them to work hard. It is every important for good entrepreneur to
listen what its team and co-worker are trying to say, because it enhances the motivational level of
employees and create a positive image of person as successful businessmen who are able to led
team and to listen (Marques and et.al., 2019).
Creativity-
It is the another most significance skill for entrepreneurs which make them able to find
some of path breaking innovations. As such, it is important to permit collisions to take place to
transcend limitations set by disciplines. Creativity skills permits successful entrepreneur to
promotes their thinking which help in problem solving.
Traits-
Open Minded-
This characteristic or trait of successful entrepreneur always keep them at top, with the
help of open-minded trait person is able to generate new ideas and implement in context of
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