Entrepreneurship and the Characteristics of a Successful Entrepreneur

This paper discusses the concept of entrepreneurship and the characteristics of a successful entrepreneur. It explores the benefits of entrepreneurship and how creativity, hard work, and flexibility can help entrepreneurs succeed in the competitive business environment. The paper also highlights some of the weaknesses that can hinder an entrepreneur's success.

Running head: Entrepreneurship 1
Entrepreneurship
Student’s Name
University
Course
Date

Entrepreneurship 2
Introduction
This paper is going to outline the details about entrepreneur and entrepreneurship skills in
coming up with a new idea. An entrepreneur is defined as a person who sets up a venture aiming
to earn a profit at the end of the period. Entrepreneurship is the act of coming up with a business
idea and implement it in the market (Bernal and Liñán, 2018). This process helps in utilizing the
limited resources in the community by coming up with unique and special products and services
in the community. For example, an individual may start an online business in the market where
does not exists. For an individual who is an entrepreneur is supposed to express some culture in
this process for it to be successful. An entrepreneur must be responsible for any success or
failure in the business operation is he/she must achieve the goals and objective of the new
business. Some characteristics are required for the business to be successful. These
characteristics may be acquired through education, training or are inborn meaning are personal
traits (Sabitha, Krishnan and Gloria, 2018). Some of the personal characters are important for the
success of the business and others always hinder the progress of the entrepreneurial projects. In
this paper, I will express my personal characteristics which are strong enough to make successes
in business and other which may hinder me from developing and running a successful project. I
will start with strong traits in my life.

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Strong characteristics in Entrepreneurial Project
An entrepreneur exhibit various characteristics that enhance his success in the business
world. Some of the characteristics are important for an entrepreneur to survive in starting and
making the business project to grow. Some of those characters include hardworking, respect,
being innovative, being flexible, risk-oriented, goal oriented, flexible, and ready to listen and the
list is endless (Kamis, Hussain, and Rahim, 2018). The following are three aspects of my
characteristics which I see them be strong enough and are able to support me in building up the
successful entrepreneurial project.
Hardworking.
Am a hardworking individual in my life. Am always focused to achieve my dreams and
goals in life through working hard. This signifies that an entrepreneur needs to be
hardworking aiming to achieve the business goals (Darmadji, 2018). Hard work is one of
my good character that will help me to overcome the entrepreneurial challenges.
Being creative.
Creativity is a very important aspect in that determines the success of an entrepreneur in
the business field. Creativity enables an entrepreneur to generate new ideas and unique
services in the market or field of specialization. This trait of being creative always
inspires me to find the solution for most of the existing problems in the market, therefore,
becoming successful in developing solutions for the entrepreneurial project.

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Flexibility.
An entrepreneur should be ready, able and willing to change when situations changed
accordingly. An entrepreneur always works extra hours when is required and work
minimal hours when no need for urgent (Le and Sarason, 2018). Therefore, my flexibility
character will help me in all situation in dealing with the entrepreneurial project.
My strong characters are many which I can express in the entrepreneurial project. These traits
will help me be successful in developing and implementing business projects in the market. Not
all characteristics which are strong, others are against to the business project, therefore, hindering
the success of the entrepreneurial project.
Weak characteristics in Entrepreneurial Project
As an entrepreneur I face a lot of challenges in accomplishing some of the projects which require
special skills. Most of these skills are against my strength of being creative, flexible and
hardworking. According to Naranjo-Valencia, Calderón-Hernández, and Sanz-Valle (2018) the
following are three weakness traits which may hinder me from participating in the
entrepreneurial activities:
Slow in adapting.
Slow adaptation to various circumstances has been a challenge to me as an
entrepreneur .Entrepreneurs always should be ready to cope with any changes occurring in the
environment. When I consider my situation, I find that is very slow in adapting to the new
situations, therefore, this is discouraging to me while it comes to the changes.

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Poor decision making.
Entrepreneurs always are required to be able to make quality and faster decision within a short
time. Am weak and slow in making faster decisions, therefore, being unable to process important
decision within a limited time. For example, things can go wrong while thinking on the next
solution, therefore, becoming a weakness in implementing entrepreneurial projects (Trang and
Mintardjo, 2018).
Reluctance to take risks
An active entrepreneur needs to be risk-taking in its activities. Taking risks is what I fear
the most as an entrepreneur. Entrepreneurial project always they have challenges in
developing them, therefore, the risk is real and entrepreneur should be ready for them.
Am not a risk taker in my life.
Self-development benefits
Entrepreneurship comes with a lot of benefits. Entrepreneurs always enjoy the privileges of
becoming their own boss and enjoying profit as a reward form the venture (Fitriyadi,
A'inurrosyidah, and Djati, 2018). Also, being creative helps to develop a unique product which
will help to satisfy consumers' needs in the community.
Conclusion
There are specific characteristics that should be portrayed by an entrepreneur that enhance his
success in the competitive business environment. Creativity and innovation is the main aspect
Other traits like laziness, slow in adapting the situation, and poor in making quality and sound
decision within the limited time, will discourage me in developing the successful and growing
entrepreneurial project.

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References
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