Characteristic traits, skills and motivational drivers of successful entrepreneurs

ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT
TASK 2

 Entrepreneurship could be defined to as that activity which put on extra
efforts for setting up business and then taking all sort of financial risk in
way of profits and success as well.
 This is also termed to as building up of new ideas for business. They are
those people who have new innovative idea and funds with them which
they further use for setting up their own business so they are known to as
entrepreneurs.
Characteristic traits, skills and motivational
drivers of successful entrepreneurs

Characteristic-
 Establishing new venture-
◦ This is one of the most important task for any businessman which means that they are
satisfying the need of customers by creating or opening new venture.
◦ For this it is essential that they are creating something which is creative and innovative as
well.
◦ Like Alan Sugar, Richard Branson and Peter Jones established their ventures into market
which helped them to grow.
 Risk assumption-
◦ For any entrepreneur like that of Richard Branson who is also regarded to as risk taker in
the airlines' industry also knows how to manage these risk which is identified by them.
◦ It is essential that they are lowering down these risk like that of social, financial and career
risk as well.
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