Traits and Skills of Successful Entrepreneurs

P5 Determine the characteristic traits
and skills of successful entrepreneurs
that differentiate them from other
business managers.
Entrepreneurs may attain more into their
lives because of some different traits and
skills they possessed with it. Moreover, the
traits as well as skills which it has develop
themselves to be distinguishing from
managers (Mersha and Sriram, 2019).
Therefore, this cm considered that person
may become successful entrepreneur when
they hold skills and traits that is different
from normal individuals. Few of them are
described below:
TRAITS:
 Confident: This is considered as
the vital trait that an entrepreneur
should have for opting effective
choices and attaining of its
endeavor. Liz Wilson has due to
which it can able to formed new
ideas for its business that may
assists them to obtain affirmative
yield as well as effective bran
image within commercial field. It
makes her different from manager
as they are assured about its
preferences due to which it may
implement it properly.
 Passion: It is one of the essential
traits which has been hold through
Liz Wilson. With having this trait,
she effectually stimulates business
development while assuring its
survival for long period. It allows
her to fulfill their business goals
and overcome through a difficult
and complex circumstance in
effectual way.
 Purpose driven ambition:
Respective trait of Ren Zhengfei
states his motivating nature for
developing Huawei to fulfill
client’s requirement in effective way.
He always encourages its staff with his
story of success which act as inspiring
agents towards firm’s objectives. In
compare of it, business manager
consider to be ineffectual and face
problem for accomplishing the exact
requirements of clients.
 Keen learner: Ren Zhengfei
effectively has faith in learning
before any practicing anything. He
basically focused upon Huawe staff
for developing them adoptive
towards new things. Whereas
business manager’s consider
utilisation of inflexible style of
management which creates them to
restrict towards new change for
executing various task.
SKILLS
Entrepreneurship and Small Business Management

 Innovative thinking: It is a crucial
skill that Liz Wilson have as this
skill help her to accomplish the
changing requirements of
audiences and accomplish
company’s appropriately. In respect
with business manager, this has
been determined that it do not has
any innovative thinking skills as it
nature is to bound any modification
into its structure.
 Decision making skill: It is
considered as a skill that is helpful
in making effectual decisions. So, it
assists Liz Wilson to take fast as
well as appropriate decisions for its
beneficial. Therefore, it is
distinguish from those possessed
through firm’s manager as it has
pressure of its seniors and depends
on them to make any decisions.
 Hard working skills: Respective
skill of Ren Zhengfei is helpful n
performing its operations with hard
work. As this effectually enable
him to form some sense of
confidence within him. In context
of business manager, it has been
determined that in few
circumstances they do not possess
faith upon its decision making.
Therefore, this makes entrepreneurs
different from any other business
manager as entrepreneurs have full
faith upon them where as manager
in some situation can not able to
take effective decision due to lack
of trusts upon themselves.
 Directive leadership skill: It is one
of the essential skills which have
been infatuated through Ren
Zhengfei. Respective skill is opt
through him which assists them in
setting targets for Huawei staff.
Within this leadership type, leaders
provide formative kind of guidance
to staff for attaining organisational
objectives. In contrast of this,
business manager utilised rigid
style which bound them towards
developing rapid changes (Marques
and et. al., 2019). So, this
differentiates entrepreneurs from
other business managers.
Difference between entrepreneurs
and business manager.
Entrepreneu
rs
Business
manager
Concentratio
n
Entrepreneur
s are
generally
concentrated
towards
starting new
enterprises
and then try
to expand
them at
greater level.
Business
manager
are
concentrat
ed
basically
on
continuous
business
practices
so that
they may
able to
perform
them in
smoother
manner.

Key
Motivation
The main
motivations
of all
entrepreneurs
are
achievements
.
On other
side, the
business
manager
key
motivation
usually
comes
from their
authority
as well as
position.
Conclusion
Entrepreneurs are individuals who
determine an opportunity and handle and
establish a business by undertaking whole
risk in aspects of an effective return. On
other side, the business managers are
person who are responsible for inspiring
and directing employees as well as
supervise them into the progress of entity.
Moreover, as entrepreneurs have full faith
upon them which aids them in taking any
kind of decision at any circumstances
where as manager in some situation can
not able to take effective decision due to
lack of trusts upon themselves.
P6 Assess how aspects of the
entrepreneurial personality reflect
entrepreneurial motivation and mindset
Entrepreneurial Motivation Mindset
and its importance
Entrepreneurial motivation is regarded as a
chase of new business formation as well as
enthusiasm for survival by which company
is directly connected with inspiration of
businessperson. Entrepreneurial mind set is
defined as a particular manner of opinion
in which individuals come within reach of
challenge and clanger (Şahin, Karadağ and
Tuncer, 2019). So, both are significant for
entrepreneurial ventures as it assists into
improvement of confidence as well as
mean that one is more apt to grab
opportunities and not being afraid to take
any kind of risk. Also, milestone and
objectives setting for self development
become very simple in case equipped with
accurate entrepreneurial skill. Therefore,
OCEAN Model may be applied for
mirroring pioneering outlook as well as
motivation. It includes five aspects that are
described below:
Openness: It is associated with ideas,
feelings and experiences. This states that
inventiveness as well as interest is helpful
for business person in undertaking
effective and legitimate preferences for its
enterprises (Bell, 2019). Also, it is assist
them to learn new things and considering
challenges in carful manner. For example:
as entrepreneurs like Ren Zhengfei, Bill
Drayton , Liz Wilson and other grab
various new things and this motivates them
become a successful entrepreneurs.
Conscientiousness: This is
associated with the quality like
unwavering, adaptability and others. It
states that entrepreneurs have to be focused