Characteristics, Traits and Skills of Successful Entrepreneurs

This presentation on Entrepreneurship and Small Business Management discusses the characteristics, traits and skills of successful entrepreneurs such as passion, self-motivation, time management, collaboration, communication and planning. It also explores the OCEAN model to describe the mindset of different personalities and the role of background and experience of entrepreneurs in business operations. The presentation includes examples of successful entrepreneurs such as Laurence Graff and Alan Sugar.

Entrepreneurship and Small
Business Management

Table of content :
 Introduction
 Characteristics, traits and skills of successful entrepreneurs
 Entrepreneurial Personality
 Role of background and experience of entrepreneur
 Conclusion
 References

INTRODUCTION
Entrepreneur is the person who is responsible for combining all factors of
production (capital, land and labour) to manufacture or provide a good or
services and thus bear all the risk and enjoy maximum part of profit. This
presentation includes different characteristics, traits and skills which act as a
motivational driver and helps in becoming a successful entrepreneur. This
PPT also includes background and experience of entrepreneurs and its effect
on business operation.

Characteristics, traits and skills of
successful entrepreneurs
Entrepreneur is the person having all the
responsibility of running and managing a
business venture. Different
characteristics, traits and skills of an
entrepreneur which make them
successful and different from other
manger are described below:

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Laurence Graff – He was the founder of famous diamond jewellery business, Graff
Diamonds. He is wealthiest diamond merchants of UK.
Characteristics
 Passionate –Laurence Graff is very passionate towards his work and it provides
motivation to him to overcome negative situation but mangers finds it quite difficult
and they get diverted from their path very soon in times of adverse situation..
 Self – Motivated- Entrepreneurs are motivated to achieve their targets because of
their own enthusiasm and interest, they do not need anyone's pressure.

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Traits
 Time management – This traits helps in timely completion of work
which is necessary for success
 Collaboration – Entrepreneurs are very good at working with someone
else. Lauren Graff is a brilliant in managing a team player knows how to
avoid or remove office politics

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Skills
 Communication – Entrepreneurs need to have a captivating and
most precise communication skills as they have to interact with a lot
of people
 Planning – – Laurence Graff is a very good planner as he makes
plans in advance for important task and work which helps in
efficient and timely completion if work

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Alan Sugar – He is well known entrepreneur of UK having great fortune in
consumer electronic industry and crated popular computer brand Amstrad
Characteristics
 Open minded – Alan sugar always willing at trying new things and ideas
which provides him many opportunities to get more success
 Risk taker – Entrepreneurs enjoy taking risk thus they are able to make use
of maximum number of opportunities where as mangers are little
conservative

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Traits
 Curiosity – Entrepreneurs require to discover new potentials, reveal
opportunity and to remain interested in learning new things.
 Versatility – This trait makes Alan sugar able to adapt or perform many
different functions or activities and being an entrepreneur its is necessary
as they have the responsibility of whole business

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Skills
 Leadership - This skill is very necessary to carte team bonding and to
provide proper direction to workforce. Alan sugar is a very good leader
knows how to boost its team member provide proper guidelines.
 Creativity – It is necessary for an entrepreneur to bring out of the box
ideas which make them different from unsuccessful people and manger.

Entrepreneurial Personality
Behaviour and attitude of all individuals
depends on their personality which
effects their mind set and level of
motivation.
Openness- This personality trait
represent a dynamic and bold
personality with wide range of interests.

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Conscientiousness - People having this type of personality traits are goal
oriented with exceptional organisational abilities.
Extraversion – They are quite talkative people with lots of energy and are
emotionally expressive.
Agreeableness - They are the most helpful, generous and affectionate people.
Neuroticism – They are emotionally unstable and are having high mood swings

Role of background and experience of
entrepreneur
Background and life experience of an entrepreneur
decide its personality and his attitude towards
solving or facing any situation
Laurence Graff
Background – He was born in Stepney on 13
June,1938 into a Jewish family

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Experience – At an early age of 15 he left school and started doing apprentice
and soon went into a partnership with a jeweller
The above description shows that he was not rich enough so has to start
his first business in partnership due to lack of money but having good
designing and creativity skills inherited from his father which is a positive
reflection of his background.

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Alan Sugar
Background – He was born in hackney on 24 march 1947,
East London and his father was a tailor in garment industry
Experience – Since his schooling day to earn extra money
he worked at greengrocers
It is clear from above detail that from starting he was
more attracted towards technology which helps him in
getting specialisation in consumer electronics

CONCLUSION
From this presentation it can be concluded that entrepreneurs
are having some special characteristics, traits and skill which makes
them successful and different from other mangers. OCEAN model is
used to describe mindset of different personality. At last it can be
summarized from this PPT that background and experience have both
negative and positive effect on an entrepreneurial venture.

REFERENCES :
Runyan, R. C. and Covin, J. G., 2019. Small Business Orientation: A
Construct Proposal. Entrepreneurship Theory and Practice. 43(3).
pp.529-552.
Yoshida, S., Yagi, H. and Garrod, G., 2019. Determinants of farm
diversification: entrepreneurship, marketing capability and family
management. Journal of Small Business & Entrepreneurship, pp.1-27.

ONLINE
A Conversation with Laurence Graff OBE, Founder of Graff Diamonds. 2019
[Online]. Available Through: <https://thoughteconomics.com/a-conversation-
with-laurence-graff-obe-founder-of-graff-diamonds/>.
Alan Sugar, Personality Profile. 2019 [Online]. Available Through:
<https://www.celebrities-galore.com/celebrities/alan-sugar/home/

Thank You !!!!