Entrepreneurship and Small Business Management: Characteristics and Skills of Successful Entrepreneurs

This presentation provides details about the characteristic and skills of various successful entrepreneurs, assessing the personality reflecting motivation. Lastly, examining examples for illustrating entrepreneurial characteristics fosters entrepreneurship.

ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION
MAIN BODY
determining characteristic traits and skills of successful entrepreneurs that differentiate them from other
business managers
characteristic traits and skills of successful entrepreneurs:
entrepreneurial personality reflecting entrepreneurial motivation and mind-set
explore and examine different lines of argument relating to entrepreneurial characteristics
different entrepreneurial characteristics of an entrepreneur impact on the successful entrepreneurship
CONCLUSION
REFERENCES

INTRODUCTION
 Entrepreneurship is defined as the process for explaining and combining new ways by generating new
resources.
 It is the creation of viewing changes and starting business on own self a for achieving profit
 An entrepreneur is an individual which is creating new business with establishing new resources using
skills and initiative as for creating new start-up and achieving profit with grasping various growth
opportunities.
 This presentation provide details about characteristic and skills of various successful entrepreneur also
assessing the personality reflecting motivation.
 Lastly, examining examples for illustrating entrepreneurial characteristics fosters entrepreneurship.

CHARACTERISTIC TRAITS AND SKILLS OF
SUCCESSFUL ENTREPRENEURS
Characteristic traits and skills of successful entrepreneurs:
 Elon musk :The CEO and founder of tesla and pay pal.
 The main electric car company which is changing the world.
 main characteristic and skills posses by the entrepreneur is
hard-working personality which is an innovator implementing
various new changes.
 Also, a risk taker which is adopting various risk and dealing
with uncertainness for achieving success in life.
 He is innovative and encompasses positive energy for
adapting new changes and working with making various
strategies for achieving success with having great vision .

TO BE CONTINUED
 Bill gates : The well-known individual as for founder of Microsoft office.
 The main skill as of entrepreneurial and characteristic posses area expertise in managing remarkable
heights, also passion as for achieving success in life drives for achieving unattainable goals.
 The passionate leader and the high risk tolerable taking risk for achieving success by starting various
business ventures.
 Being focused and creativeness for staying and encouraging team members as for achieving successful
entrepreneur.

TO BE CONTINUED
 James dyson : Known for founding large vacuum cleaners company.
 Designing vacuum cleaners leading new innovations is the main aim of this
entrepreneur.
 The successful entrepreneur is known for acquiring various skill and
characteristic as for taking calculate risks and innovation characteristic helps in
inventing and producing various new vacuum cleaners.
 Also possessing never giving up attitude helps in adopting various new
innovativeness by pushing and acquiring new technological needs .

ENTREPRENEURIAL PERSONALITY
REFLECTING ENTREPRENEURIAL
MOTIVATION AND MINDSET
 Entrepreneurial personality influences and motivates individuals a for achieving success
in real life as :
 Risk taking: Risk taking ability influence entrepreneurial personality as for driving and
taking more risk for achieving success as by innovating and investing money into
various new ventures and taking risk as for achieving profits in real life.
 As examples Elon musk, the risk taker mainly invested the large amount into main two
ventures spcace x and tesla motors.
 The risk taking ability drive and motivates individual as for achieving more profits.
 As investing into tesla motors by investing as high risk with operating high cost.
 Thus, Elon musk is the biggest risk taker as by investing and founding the two biggest
companies as tesla and space X.

TO BE CONTINUED
 Drive: Entrepreneur drives is the biggest motivating factors as for achieving success in life.
 It is regarded as passion a for achieving aims and drives is consider as important factors for achieving
vision and creating new ideas for creating things and innovating in life.
 Examples : Bill Gates, the stubbornness for achieving passion drives him for persuading career.
 As bill gates was passionate about commuter for childhood, spending daily personal time and his drive
for achieving success motivated incredibly for becoming successful entrepreneurs.
 The ultimate passions and drive or becoming successful entrepreneur with unique qualities helps in
funding the company as drives by childhood passion.

EXPLORING AND EXAMINING DIFFERENT LINES OF
ARGUMENT RELATING TO ENTREPRENEURIAL
CHARACTERISTICS
 Entrepreneurial characteristics are mainly adopted as for achieving success .
 As entrepreneurial are mainly risk taker, action oriented, innovativeness,
creative, and drives for achieving passion for achieving success in life.
 Characteristics of entrepreneur have various similarities and dissimilarities.
 As entrepreneur conducting various business adopting risk taking for
achieving success by making plan for achieving goal in life.
 Entrepreneur in real life deals with business consisting of buyers, workers,
suppliers and various investors for achieving success by making more
profitable company.

DIFFERENT ENTREPRENEURIAL CHARACTERISTICS
OF AN ENTREPRENEUR IMPACT ON THE
SUCCESSFUL ENTREPRENEURSHIP
 Background and experience of an entrepreneur affects and aid in frosting the
entrepreneurship processes.
 The family supports helps in motivating entrepreneurs also encourages in taking risk.
 As for instance Elon Musk and Bill Gates, with the positive personal experience and
strong financial background are motivated and focused for achieving success in life.
 Furthermore, staying motivated and being positive is must for achieving success.
 As the experience is not positive and fruitful and no strong financial background will
creates lack of support and reduces the risk taking ability for achieving success in
business.

CONCLUSION
 From the above presentation it can be concluded that, entrepreneurship is
way of combining and attaining new resources as for achieving success in
life.
 An entrepreneur is an individual which is a risk takers and willing to take
loss by starting own business for earning profit.
 Entrepreneurial characteristic and skill play very important role in being
successful and achieving heights of success.
 For starting up the business at small and large level entrepreneur must
acquire special set of skills and characteristic for achieving success and
running business with taking risk.

REFERENCES
 Muegge, S. and Reid, E., 2019. Elon Musk and SpaceX: A Case Study of Entrepreneuring
as Emancipation. Technology Innovation Management Review. 9(8).
 Khan, M., 2021. A critical analysis of Elon Musk’s leadership in Tesla motors. Journal of
Global Entrepreneurship Research. pp.1-10.
 Kumar, R., 2019. The business of changing the world: How billionaires, tech disrupters,
and social entrepreneurs are transforming the global aid industry. Beacon Press.
 Fuller-Love, N., 2020. Absolute Essentials of Entrepreneurship. Routledge.
 Kennard, M., 2021. Innovation and Entrepreneurship. Routledge.