Entrepreneurship: Traits, Skills, Motivation, and Background

This report delves into the characteristics, traits, and skills of successful entrepreneurs, using Tom Mercer and Elizabeth Gooch as examples. It examines self-motivation, enthusiasm, visionary thinking, and disciplinary behavior, alongside communication and decision-making skills. The report explores the concept of entrepreneurial personality through the OCEAN model, highlighting extroversion, agreeableness, neuroticism, and openness. It also provides background information and experiences of the mentioned entrepreneurs, including their challenges and achievements. The conclusion emphasizes the importance of entrepreneurship and small business management in driving economic growth and the role of entrepreneurial ventures in the country's social economy.

Entrepreneurship and small business management

PART 2
Table of content
P.5. Characteristic , Traits & Skills of the successful Entrepreneur
P.6 Concept of Entrepreneurial Personality reflect on Entrepreneurial
Motivation & Mindset
P.7. With use of relevant examples , determine the background &
experience of entrepreneurs

the characteristic traits and skills of successful
entrepreneurs
The explanation of characteristics, traits & skills of successful entrepreneur like Tom
Mercer & Elizabeth Gooch are discussed below -
Tom Mercer
Self-motivated - self-motivation is regarded as one of the best attributes that can assist to
inspire others, and most people like their working style.
Enthusiastic - Tom Mercer is one of the most well-known entrepreneurs, and he was
enthusiastic about his work. He enthusiastically contributed their best efforts to
researching the most efficient answer. These features set him apart from the rest.

Traits Continue……..
Visionary - Tom Mercer established a clear vision for their business operations, and with
this trait, they were able to successfully complete each and every task.
Disciplines - Tom Mercer's disciplinary behaviour is crucial to his success. In both their
personal and professional lives, he maintained discipline and struck the right balance in
each scenario.

Skills ……………..continue
Communication Skills – it is considered as most significant skill which must be
present in entrepreneur so that they become capable to maintain healthy and
positive relationships with their work force that are connected to organization and
with other team members also. This is a set of talents that every entrepreneur needs
to stay in business.
• Effective decision-making skills - Tom Mercer employs these abilities due toi the
they can do effective decision making and after deep analysis of various
circumstance important steps are tends to be taken for smooth functioning purpose.
He is responsible for making decisions that affect the welfare of workforce

Elizabeth Gooch
Characteristic
Self-assured - This is regarded as one of the most significant attributes for
any entrepreneur. Elizabeth Gooch is highly confident in their work also
she is always willing to take a chance and solve any problems with their
own availability
• Vision - she has a clear vision and is able to see the big picture, which can
assist the organization to achieve its objectives.

Traits (Continued…)
Self-confidence - This is an effective quality that can aid in making a
confident judgement.
Tenacity - When things become bad, Elizabeth Gooch tends to stay tough.
She has the ability to persevere in the face of rejection and to learn from
her mistakes.

Skill Continued…
Innovative Thinking - This skill is important for all
entrepreneurs since it can help them determine the true value
of their company. Elizabeth Gooch used this skill in her
company.
Leadership abilities - Elizabeth Gooch possessed an influential
leadership capacity, and she guided her employees in the
appropriate direction.

Concept of Entrepreneurial Personality reflect on
Entrepreneurial Motivation & Mindset
:All entrepreneurs requires unique set of features, characteristics,
and abilities. All the respective factors supports entrepreneur to
keep his or her drive and mine set. With the help of OCEAN model
it become possible to assess the thinking and thoughts of
entrepreneur. Also motivation can also be increased by using this
model. In this paradigm, five steps are tends to be explain in detail
in below mentioned paragraphs:

Continued…
• Extroversion – to assess sociability this personality traits tends to be used. energetic, and socialism ,
talkative are attributes which are tends to be ideal for entrepreneurs. business owner of
this type has so much capability to influence as well as to provide motivation to
employees so that they retain in the company for long term..
• Agreeableness – respective personality attribute tends to identifies entrepreneurs who
tends to cooperate and support their members of staff. Following entrepreneur can
provide helpful advice which leads to improve skill and make development in employees.
• Neuroticism - This personality feature demonstrates a proclivity for erratic emotions and
sentiments. Business owner with this type of personality feature experience tension,
jealousy, dread, frustration and also they behaivet negatively in the situations which
unexpected and arise suddenly.
• openness – respective step is commonly called as "intuition" or "imagination." In the
organisation individuals tends to recognise their creativity & innovativeness and try to
gain information, learn skills as well as experience by using such personality feature.
creative ideas, emotions and thoughts are all include under it. Through curiosity and
inattentiveness this attribute aids towards to take good and effective decision..

determine the background & experience of entrepreneurs
The explanation about background and experience of Two famous entrepreneur
Elizabeth Gooch and Tom Mercer are discussed below-
Background- At the age of eighteen years Elizabeth started his career and join HSBC bank
but after expiry of one year she planned to work in consultancy firm after some time she left
such job also and collected some fund nearly around € 1000 from their colleagues, family &
friends and decision to open own business. She provided training sessions & specific
consultancy services which require financial services in term of financial management. As she
doesn’t have so much knowledge so she tends to make contact with Rodney Baker Bates , the
Chief executive officer of the organization. She appointed him as company’s chairman and
leads to improve investment through attracting the investors.
Experience- she was so much struggle and face many odd circumstances & hurdles in their
life. She tends to faced various issues related to finance. Their family also not give any
support to them which make impact on their life. From their childhood she handle all their
problems. Many times Her father told her to engage in job rather than to run business. In the
year 2007 and 2008 , she tends to face many financial losses and she put their efforts to
overcome from losses and she work hard and achieve success in their life.

Conclusion
As per current scenario, it is observe that
entrepreneurs are so much demanding.
Entrepreneurship and small business
management is helpful to maintain the
growth level of the country. Small, micro,
large companies as well as new startups are
plays significant role in the country’s social
economy. The major objective of such
assignment is to discuss regarding various
forms of Entrepreneurial Ventures along with
their typologies. In this project various, skills
, characteristic and traits of reputed or
famous entrepreneur are discussed.
background as well as experience of
successful entrepreneur who tends to
motivate large people across the whole
world are also explain under the report and
in this manner they become the best
successful business manager.

References
Books and Journal
Ramutumbu, P. and Bornman, M., 2019. A tax compliance risk profile of
guesthouse owners in Soweto, South Africa. The Southern African Journal of
Entrepreneurship and Small Business Management, 11(1), pp.1-14.
Morris, M.H. and et. al., 2018. Distinguishing types of entrepreneurial ventures: An
identity‐based perspective. Journal of Small Business Management, 56(3),
pp.453-474.

Thank you…