Characteristics, Traits, and Skills of Successful Entrepreneurs

Entrepreneurship and
small business

Table of Contents
INTRODUCTION................................................................................................................................3
MAIN BODY ......................................................................................................................................3
P5 Examine characteristic traits & skills of successful entrepreneurs that differentiate them from
other business managers..................................................................................................................3
P6 Discuss how aspects of entrepreneurial personality reflect entrepreneurial motivation and
mindset.............................................................................................................................................4
CONCLUSION....................................................................................................................................6

INTRODUCTION
Small business management is defined as process of coordinating and aligning all activities
of small business such as vendors, finances, subordinates etc. Entrepreneurship is defined as
developing something new in market (Sebikari, 2019). Main purpose of this report is to analyse
entrepreneurs & their skill, personality affecting mindset or motivation. So, two entrepreneur has
been taken which are Elon Musk & Sir Richard Branson. In this report,it comprises of
characteristics, traits, skills of successful entrepreneur & difference from managers and aspects of
entrepreneurial personality reflecting mindset and motivation.
MAIN BODY
Mindset of entrepreneur
P5 Examine characteristic traits & skills of successful entrepreneurs that differentiate them from
other business managers.
Entrepreneurs and managers both are essential and integral part of business which increase
the productivity of firm. They both are responsible for achieving goals as well as objectives at all
aspects. Such as entrepreneurs has different types of skills & characteristics according to which
they perform their role & make decisions. So, heterogeneous skills, characteristics & traits is
discussed below-
BASIS Elon Musk Sir Richard Branson
Characteristics
Positive energy- Musk is
optimistic person as he is positive
towards future goals & objectives.
(Choi, 2017).
Different thinking- Sir
Branson has different thinking
who thinks outside the box.
Traits
Enthusiasm- Elon is enthusiastic
person as he is excited towards his
work and concept of change.
Motivation- Sir Richard
Branson is motivated person
who influence others decision
with aim of achieving goals.
Skills
Interpersonal skills- Elon Musk
has interpersonal skills as he listen
to his employees, audience and then
take decisions carefully.
Make effective decisions- Sir
Branson has skill of making
appropriate decision by
accessing detailed information.