Table of Content Introduction Characteristics, Skills and Traits of successful entrepreneurs Entrepreneurial personality reflect motivation and mindset Background and experience foster entrepreneurship Conclusion References
Introduction Entrepreneurship is an activity in which human acts are considered as an action regarding the value in terms of expansion of economic activity by identifying the novel products, market areas and procedure. Entrepreneurship defines the launch, running, operation and designing of new business and describe one person who tends to run a business known as entrepreneur. These individuals tends to develop and bring competition within the business environment. It is beneficial for the economic condition and nation of country as it prominent cover various factors like elimination of employment, bring proper development for the betterment of economy and so on.
Skills and Characteristics of Successful Entrepreneurs Richard Branson and J.K. Rowling are the two successful entrepreneurs as each of them are different from one another and it makes them more unique and skilled considering their characteristics, traits and skills in order to influence people. For this, entrepreneurs are those individuals who develop themselves in the business area in terms of taking entry on the grounds of innovative business idea and efforts. This section of report put emphasis over the particular skills, traits and characteristics of the selected entrepreneurs as their stories tends to motivate other people for their achievement.
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Continue... Traits: Continuous learning:It is considered as one of the most effective and potential trait of Richard as he is readiness and anxiousness considering his learning and development as an individual, entrepreneur and significantly as a leader (rbano and Aparicio, 2019). Imaginative:J.K. Rowling is the successful entrepreneur and owner of millions of dollar who are worthy for the industry on the grounds of her creative thinking and imagination. In the early time, she work as the writer then she became an entrepreneur considering her efficiency in terms of thinking more unique and innovative.
Continue... Skills: Motivation:To become an author need lot of patience and confidence and in the life of J.K. Rowling there are various factors which are not in her favour but she has the self-confidence skill which become her strength for her survival. This skill made her work harder and due to this, she get label of best selling novels of all time. Leadership abilities:It is the major skills which is present in Richard and it is developed by working in market considering various leaders and also helps in becoming successful entrepreneur as it tends to develop his luckiness considering his manpower.
Continue... Characteristics: Innovative thinking:Richard is the founder of Virgin Group and because of his creative ideas and unique thinking made him more successful in market. He also tends to work with lot of entrepreneurs in order to become great entrepreneur by developing understanding from various people. Passionate:Passionate:J.K. Rowling is more passionate about her work in to become a successful leader tends to lead herJ.K. Rowling is more passionate about her work in to become a successful leader tends to lead her towards the path of becoming a leader who think out of the box and more imaginative to work hard in each andtowards the path of becoming a leader who think out of the box and more imaginative to work hard in each and every situation.every situation.
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Entrepreneurial personality reflect motivation and mindset Personality refers to the combination of traits, skills and characteristics which is useful in order to shape for the personal experience and other activities. For this, entrepreneurial personality is quite same and also tends to put emphasis for the on the effective achievement of goals and objectives. For this, OCEAN model is used in order to identify the personalities of J.K. Rowling and Richard Branson tends to reflect on their mindset for the fulfilment of responsibilities.
Continue... Openness:It is considered as the best personality trait which is important and always searched among entrepreneurs considering their belongings in any industry and region. This personality type is present in J.K. Rowling as per her wide range of experience and being more creative. Conscientiousness:This personality trait makes individuals more unique as per their mindset and make them more innovative and strong that bring them probable confidence in order to pursue their activities and for their initiatives that tends to develop and grow their business.
Continue... Extraversion:This personality type is present in Richard Branson as for being an entrepreneur he tends to acknowledge extraversion trait and also become a great leader and so interactive for the individuals always to willingly take risk and consider open mindset that keep him encouraged. Agreeableness:These entrepreneurs are kind and have strong mindset which is enough to avoid any kind of negative impact the behaviours and thoughts in order to work in positive direction and also tends to achieve success towards leading a healthy life and also tends to motivate individual for the professional career.
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Continue... Neuroticism:This personality tends to include various factors considering the barriers, instability and happiness. These entrepreneurs tends to score high but also face anxiety, sadness and mood swings as it can become barrier under the personal life of an individual as well in the initial career days in order to support entrepreneurs.
Background and experience foster entrepreneurship It is identified that various factors, skills and characteristics tends to impact the personal and professional life of individuals considering the abilities and mindset of entrepreneurs. For this, significant background and experience of both the entrepreneurs are not much strong which is discussed as under: Educational background: The educational background of J.K. Rowling is quite inspiring and also give her prominent writing skills. Moreover, her educational background is very much effective and also provide herself a to being so inspiring in order to write harry potter as the characters of movie from her life and theheadmaster in primary school recommended as the inspiration for Harry potter named Albus Dumbledore. Moreover, Richard Branson was the son of air hostess and former ballet dancer ashis grandfather was the judge of high court and privy councillor.
Continue... Experience: J. K. Rowling and Richard Branson both had a comfortable childhood as their parents were well settled and were raising them comfortably. But their life experiences were not really great as J.K. Rowling suffered form family issues which hindered her experiences. She had good education from all renowned institutions and her professors were supportive as well. This mixed experiences of life made her motivated as after her separation she wanted best for kid and even after being in unstable financial and medical conditions stayed motivated to give her child a loving and comfortable life. Her experiences from school and college reflected in her books as some characters of her books were inspired form it.
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Conclusion From the above information it is concluded that foraccomplishing prominent goals and objectives, entrepreneurs need effective skills, traits and characteristics which is useful in encouraging and inspiring people to become successful entrepreneur. Moreover, it cover two successful entrepreneurs and their overall story as an example that leads to inspire them and helps in becoming an entrepreneur.
References Scarborough, N.M., 2016.Essentials of entrepreneurship and small business management. Pearson. Sebikari, K.V., 2019. Entrepreneurial performance and small business enterprises in Uganda.International Journal of Social Sciences Management and Entrepreneurship (IJSSME).3(1). Urbano, D. and Aparicio, S., 2019. An Overview of the Economics of Entrepreneurship and Small Business: The Legacy of David Audretsch. InFrom Industrial Organization to Entrepreneurship(pp. 279-306). Springer, Cham. Yan, J. and Yan, L., 2016. Individual entrepreneurship, collective entrepreneurship and innovation in small business: anempirical study.International Entrepreneurship andManagementJournal. 12(4). pp.1053-1077.