Entrepreneur and Small Business Management

This presentation highlights the essential traits and skills of successful entrepreneurs and explores the impact of entrepreneurial background and experience in fostering entrepreneurship. It also discusses the aspects of entrepreneurial personality that reflect motivation and mindset. The presentation is based on the subject of Entrepreneur and Small Business Management.

ENTREPRENEUR AND
SMALL BUSINESS
MANAGEMENT

Table of Contents
 INTRODUCTION
 P5 Traits and characteristics of successful business entrepreneurs.
 P6 The aspects of entrepreneurial personality that reflects their
motivation and mindset.
 P7 The impact of Entrepreneurial background and experience in
fostering the entrepreneurship.
 CONCLUSION
 REFERENCES

INTRODUCTION
 This presentation is based on Entrepreneur and small business management.
 It will highlight the essential traits and skills of a successful entrepreneur.
 The presentation will reflect the aspects of entrepreneurial personality on
entrepreneurial motivation and mindset.
 It will also cover the role of background and experience of the entrepreneur in fostering
the entrepreneurship.

Essential Traits and skills of successful
entrepreneur
 In order to understand the skills and traits of successful entrepreneur, J.K. Rowling has been chosen for the
observational study of the report. J.K. Rowling is a writer of famous book and series Harry Potter, which later got
converted into movie sequel. Rowling is one of the first author in history to achieve a net worth of 807,635
pounds. The following are the traits and skills that were consisted in Rowling-
 Creativity and innovation- It is one of the most important and necessary traits that should be included in all
entrepreneurs. Innovation and creativity refers to finding out something new and unique. Rowling wrote the story
of Harry Potter which was very much different from ordinary novels and stories. The story of Harry Potter
contained different mysterious happenings, adventures and other illusions that was very much different during the
time of its release. This led to the success of the novel.
 Calmness and Patience- This is another important trait in the list of entrepreneur. It is necessary as there are
much failure outcomes in life and one must maintain patience and confidence to deal with those outcomes and
focus on the goals as well. Patience refers to staying calm in the critical situations and working on what the main
objective is, without any negativity or disturbance. Rowling's story in Harry Potter was rejected several times by
the publishers due to its fictitious characters and there was no interest of publishers at that time to consider that
type of story. But this didn't make Rowling to loose her Confidence and give up, but instead she kept focussing on
her work and kept writing the additional part of the story which finally got selected and published in the market.

CONTINUE
 Quality of bearing risk- Risk is the uncertainty among the journey of entrepreneurship
and also can be said the unexpected outcomes in the business. As an entrepreneur one
must be able to take and bear risks and initiate all those activities that leads them to
achieve success. As it is said that success in the business is the result of bearing risks.
Similar thing can be studied in the case of J.K. Rowling as when she was writing the
Harry Potter story, it was totally different and new in the market. The risk was
regarding the failure of the launch and efforts but she undertook the risk and rest is the
history.

Some of the common aspects of entrepreneurial
personality
 The following are the aspects that represents the entrepreneur personality and aere commonly seen in all successful
entrepreneurs-
 Innovative thinking- This factor is very much common in every entrepreneurs. As the concept of entrepreneurship
is based on innovative ideas and thoughts. The entrepreneur musty come up with new ideas and concepts in their
businesses to attain growth and profitability.
 Adaptability- Adaptability refers to the adaption of the changes occurring in the market in a least possible time.
Entrepreneur must be resistant towards the changes and be able to manage the business operations in accordance
with the trends and change in the market.
 Bearing Risks- Risk bearing quality of a person is the difference between an entrepreneur and an ordinary person.
Entrepreneurs are the risk bearers in their business to achieve their outcomes. This aspect is seen common in all
sorts of entrepreneurs as they undertakes the risk of investment, financial resources and other assets with a view of
achieving success in business in terms of profitability.

CONTINUE
 Optimism- Optimism refers to the positivity or positive behaviour of entrepreneur in
relation of the business operations. As an Entrepreneur one must have positive mindset
during the critical situations in business which helps him to improve and deal with such
condition and overcome it with positive outcomes.
 Conscientiousness- This trait refers to the thinking power and forecasting ability of a
person. As an entrepreneur one must be able to plan out the things and figure out them
in advance for better application of his ideas in the business. Entrepreneur must have
good assumption element in them for doing things in favour of his planned objectives.

Entrepreneurial background and experience and its
impact in fostering entrepreneurship.
 Entrepreneurial background plays an vital role in implementing the learnings and the quality skills
development in an entrepreneur. The culture and the experience of the entrepreneur helps in shaping his/her
mindset and thinking ability by enhancing the learning ability of a person from the mistakes, downfalls and
any situation that turns out a motivation factor for rising entrepreneurship quality in individual.
 Education- Rowling went to St Michael's primary school in her childhood days. Later she completed her
secondary education at Wyedean School where she was identified as having good hold in English
vocabulary by her high school English teacher. She gained her graduation degree in B.A. In French and
Classics at university of Exeter. In her school days she was a quite good competitive student being
concerned with all sort of requirements to achieve good grades. As being observed hat the better education
and knowledge shaped the skills of Rowling and made her compose the story of Harry Potter.

CONTINUE
 Changes in Life- Rowling's mother was a patient of multiple sclerosis and later she suffered
death in few years. Rowling had been writing the story of Harry Potter hiding from her mother
but later the circumstances became worst as her mother died. She was not able to focus on her
thoughts due to rising depression and this affected her story as well. But later aftermath she again
focussed more on her story and completed it. All the circumstances ion her life are seen relatable
in her Harry Potter story as the character Harry Potter is described as Rowling herself and her
English teacher in high school is described as Dumbledoor. One thing that can be observed from
Rowling past life and experiences is that she related every incident of her life in her story and
able to publish her Book which turn out top be Hit in market. This shows that the power of
optimism can make an individual achieve success in any circumstances.

CONCLUSION
 From this presentation it is summarized regarding the learning of traits and qualities of
successful entrepreneurs. The presentation also mentioned the similar aspect being
identified in every successful entrepreneur. The presentation also mentioned the
entrepreneurial background and experiences and their impact in fostering the
entrepreneurship quality in them.

REFERENCES
 Albort-Morant, G. and Ribeiro-Soriano, D., 2016. A bibliometric analysis of
international impact of business incubators. Journal of Business Research.
69(5). pp.1775-1779.
 Ateljevic, J. and Page, S.J. eds., 2017. Tourism and entrepreneurship.
Routledge.
 Gielnik and et.al., 2017. How small business managers’ age and focus
on opportunities affect business growth: a mediated moderation
growth model. Journal of Small Business