Entrepreneurship and Business Management

Entrepreneurship and Small Business Management

Table of Contents
Introduction................................................................................................................................2
Characteristics traits and skills of successful entrepreneurs......................................................3
How entrepreneurs can be differentiated compared with the business managers......................5
Motivational drivers of the entrepreneurs..................................................................................5
How entrepreneurial motivation and mindset can reflect upon the personality of successful
entrepreneurs?............................................................................................................................6
What are entrepreneurial characteristics?..................................................................................7
Conclusion..................................................................................................................................9
Bibliography.............................................................................................................................10
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Introduction
In the assignment, different contexts of entrepreneurship will be reviewed. In order to do that,
the basic skills as well as characterises traits of the successful entrepreneurs will be
described. In addition to that, different skills and characteristics that can differentiate among
successful entrepreneurs and the successful business managers will also be evaluated.
Furthermore, different types of motivational drivers that let entrepreneurs to be successful
will also be demonstrated in the assignment. Additionally, the reason why entrepreneurial
motivation and mindset make direct impact upon their characteristics will also be explained.
Lastly, some of the basic characteristics of the entrepreneurs will also be illustrated in the
study.
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Characteristics traits and skills of successful entrepreneurs
Most of the common traits that can be observed in respect of successful entrepreneurs have
been described below:
Motivation
Most of the recent day business entrepreneurs are very much self motivated and that can be
described as the reason behind their key success rate. While having the characteristic trait, it
is possible for different individual entrepreneurs to have not at different types of negative
aspects that can make negative impact upon their personal or professional success rate.
Moreover, a level of motivation generally allows the successful entrepreneurs to become
enthusiastic regarding their designed job role.
Creativity
Entrepreneurs generally think out of the box and it has been observed that this is the specific
mindset that differentiates them compared with the other business managers. A level of
creativity is required by every successful entrepreneur in order to manage the market related
needs and expectations while securing some form of competitive advantage.
Vision
Most of the successful entrepreneurs belonging from recent context have some very clear and
adequate vision regarding the process of conducting successful business procedure and they
usually concisely articulate their overall goals, purpose and market positioning (Monitor,
2016). The trait let them to identify what is needed to be done in which time for becoming
successful.
Passion
Most of recent successful entrepreneurs are very much passionate regarding their business
process. Their passion generally let them to work for long hours for the benefit of their own
business sector. The passion as of a characteristic trait also makes them self-motivate at some
parts.
Tenacity
Entrepreneurs have the personality trait of remaining touch and effective when different
things go out of their hand and they fail certain things. This trait of successful entrepreneurs
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