Exploration of the Entrepreneurial Mindset

Exploration of the
Entrepreneurial Mindset

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Discuss skills, characteristics of entrepreneurs that distinct them from other business
managers.....................................................................................................................................3
TASK 2............................................................................................................................................5
Discuss various aspects of entrepreneurial personality, motivation and mindset:.....................5
TASK 3...........................................................................................................................................6
Explain different ways by which background and experience may hinder the performance of
entrepreneurs with relevant examples.........................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES:...............................................................................................................................8

INTRODUCTION
Entrepreneurship is a function to start a business and undertaking huge financial risk in
order to earn profitability. It is a process to launch, run a small venture and innovate new &
unique products as well as services to sustain at market place for a longer period of time (Buheji,
2018). Present report is about entrepreneurship and small business management. General
discussion is carried out in the report about entrepreneurs, their traits, important characteristics
that are essential in order to get success. Further, it consists various aspects pertaining to
entrepreneurial personality, motivation along with the discussion of experiences and background
that may obstruct entrepreneurship practice.
TASK 1
Discuss skills, characteristics of entrepreneurs that distinct them from other business managers
To be a successful business owner , it is imperative to have some necessary traits such as
risk taking ability, confidence, adaptability and many more. Characteristics, skills of different
entrepreneurs who are successful in their respective field are discussed below:
Peter David is a successful entrepreneur of British who started Peter Jones Enterprise
Academy to enhance entrepreneurial skills among youth of country. He is fan eminent
personality and consider as an American Investor and Tycoon.
Characteristics of Peter Jones
Passionate: A business owner should be passionate about work create a difference. This
is the one of the important competency of Peter Jones that he posses strong Zeal towards venture.
He is optimistic and believes that one should not give up on failures. He keep trying to achieve
pre-defined goals ( Lee and Kreiser, 2018).
Innovate Thinking: Peter Jones is one of the innovative entrepreneur. He ensures to
adopt new methods as well as techniques to work efficiently. He started Peter Jones Academy in
order to improve entrepreneurial skills among young people of country.
Skills of Peter Jones:
Time Management: This skill is essential for a business owner get positive outcome
and complete task in predefined period of time. Peter Jones is efficient in managing time. He
schedules his work before a day in order to execute it in an appropriate manner.