Entrepreneurship and Venture and Capital

Reflective essay on the important characteristics of an entrepreneur and innovator, discussing three aspects that can help to become an entrepreneur and three characteristics that can act as a drawback.

RUNNING HEAD: Entrepreneurship and Venture and Capital
Entrepreneurship and Venture and Capital
[Type the document subtitle]
Laptop04011
[Pick the date]

Entrepreneurship and Venture and Capital 1
Reflective Essay
Entrepreneurial leadership refers to the process of organizing a group of people in a way to
achieve common goal using entrepreneurship and leadership capabilities. Entrepreneurial
leadership skills help the leader to take risks in the business and manage change in such a way
that satisfaction is achieved at a larger scale in society. The below mentioned reflective essay is
going to explain my reflection on the important characteristics of an entrepreneur and innovator.
It also explains three aspects that I possess can help me to become and entrepreneur and three
characteristics that can act as a drawback (Leutner, et. al., 2014).
Talking about the characteristics of my nature that explain that I can become a good leader, it
should be noted that I believe that I possess many characteristics that can help me to become a
leader as well as an innovator. However, it should be noted that characteristics that I believe are
good for me are never tested in real situation and circumstances, as they are either my
perspective or people’s opinion. The first characteristic is versatility; it refers to the trait that
helps the leader to outshine in all of the managerial areas. Versatility is one of the most important
and basic entrepreneurial traits as it helps the leader to be ace of all spades. Further, the second
characteristic that I possess is creativity. Creativity is something that is very important in an
innovator and entrepreneur. Creativity and risk tolerance factor differentiate an innovator in the
environment from a regular business person. Thus, I believe that my creative instincts will
definitely help me to grow and become a successful entrepreneur and innovator. Lastly, the third
skill is risk-taking and tolerance capability.
I believe that there is no person present in the environment who can grow without taking the risk
in the society. Risk tolerance capabilities help a leader to make adequate use of innovation by
converting risks into opportunities. Creativity is the most important requirement of an innovator
as it helps them to take the risk and innovate the business functions in the target market. Self-
learning and self-development are crucial aspects of in an entrepreneurial job as an entrepreneur
is one who changes according to the changing environment, and for that, the entrepreneur needs
to learn and develop. I have the above-mentioned skills and capabilities that can help me to grow
as an individual in personal life as well as professional life. Creativity and risk-taking go hand in
hand, these two characteristics will help me to successfully initiate entrepreneurial path in the
environment.

Entrepreneurship and Venture and Capital 2
Further, there are various aspects that can hinder my entrepreneurial and leadership growth in the
long term. Going on the path of an entrepreneur is very difficult as they face problems on a
regular basis. The activities and step taken by entrepreneur many times lead them in trouble. For
instance, I can talk about one aspect that is the lack of decision-making power. Although I
possess good skills in creativity and innovation within me I lack decision making power that can
stagnate my growth in future. The risk-taking capability is linked with decision making the
power of a person because the right decision at right time for certain risks is always good for the
business. Further, it should be noted that I work in today and take decisions for the day only that
can give an instinct that I am less visionary in the environment. I believe in living in the present
and taking decisions that are good for the present only. However, for taking such good decisions,
many times I fail to evaluate that which decision is good for the future. Being visionary is very
important for an entrepreneur and innovator as with the help of this type of capability, they
manage to secure present as well as future growth (Rauch, and Frese 2007). Secondly, another
trait of my personality that can hinder my future growth as an entrepreneur is lack of patience.
Patience is an important characteristic that helps an entrepreneur to grow slowly and steadily,
however, when I start working on something, I expect to have results quickly within a time that
many times make me disappoint at certain situations. Lastly, the third characteristic at which I
lack is intense discipline. As I do not possess intense discipline capabilities within me due to
which people ignore my ideas and suggestions. Due to which, I believe that it is a character trait
that is lacking in me. However, I am still working and developing my skills to become a good
entrepreneurial personality. Nobody is perfect according to me, especially for entrepreneurs, they
face regular need to self-develop and learn according to different circumstances. The
characteristics and traits that I possess clearly show that I have good knowledge of how to deal at
diverse circumstances, but still I believe that there is a scope of growth in my entrepreneurial
personality. According to the entrepreneurial theory of leadership, entrepreneurship refers to the
ability to lead and manage changes in an organization. I believe that along with creativity and
entrepreneurship, leadership is also an important aspect that helps the entrepreneur successfully
growing in the external market. The performance of an entrepreneur is influenced by his attitude
and circumstance present in the external environment (Nga, and Shamuganathan 2010). Further,
innovation and creativity is something that goes hand in hand with the job role of an
entrepreneur, these characteristics help the leader to make changes in the environment and lead.

Entrepreneurship and Venture and Capital 3
Thus, I believe that there are various skills that I already have within me that can help me to
grow, and there are many skills that I need to adapt to become a successful entrepreneur in the
external environment.

Entrepreneurship and Venture and Capital 4
References
Leutner, F., Ahmetoglu, G., Akhtar, R. and Chamorro-Premuzic, T., 2014. The relationship
between the entrepreneurial personality and the Big Five personality traits. Personality and
individual differences, 63, pp.58-63.
Nga, J.K.H. and Shamuganathan, G., 2010. The influence of personality traits and demographic
factors on social entrepreneurship start up intentions. Journal of business ethics, 95(2), pp.259-
282.
Rauch, A. and Frese, M., 2007. Let's put the person back into entrepreneurship research: A meta-
analysis on the relationship between business owners' personality traits, business creation, and
success. European Journal of work and organizational psychology, 16(4), pp.353-385.