Characteristics and Motivational Drivers of Successful Entrepreneurs

Desklib provides past papers and solved assignments for students. This report analyzes entrepreneurial skills and success factors.

Entrepreneurship and
Small Business
Management

Introduction
The effective skills & business traits are being
described in order to be the successful entrepreneur.
The overall personality & the entrepreneurial
motivation is being enhanced. The complete
background is also being enhanced & determined of
the successful entrepreneur.

The characteristic traits and
skills of successful entrepreneurs
 Passionate & Motivated.
 Risk Taker.
 Hard Worker.
 Adaptable & Flexible.
 A Good Planner.
 Self-disciplined.

Risk Taker
 The high level of risk is being undertaken by all
the entrepreneurs in the context of cost & the
benefits.
 They implement that effective
method which will seem to be
more profitable.
 All the successful business ventures entail the
maximum risks.

Creative & Innovative
 New unique & innovative ideas or concepts are
being developed for solving out the major
problems.
 Subjective creativity & innovation.
 Observe new change & successful conversion.
 Measurable &
achievable innovation.

Entrepreneurial Characteristics
 Dedicated.
 Aim & vision.
 Courageous.
 Enthusiasm.
 Tactical.
 Positive thinker.
 Self-confident.

Motivational drivers of
successful entrepreneurs
 To earn money.
 To enhance creativity.
 To secure the
self-employment.
 For meeting the
increasing demands.
 Attaining personal & professional growth.

Background and experience can
hinder or foster entrepreneurship.
Entrepreneurial Culture: those individuals are
included who involves the “suppressed individual
interests” so that the defined goals can be attained
& the effective long-term growth can be enhanced.
It includes the following kind of nature:-
 Strong beliefs & assumptions.
 Emotional aspect.
 More emphasis on future.

Entrepreneurial culture &
activities
 Awareness for entrepreneurial opportunities.
 Identifying the effective roles & models.
 Determining the professional mentors.
 Supporting the business succession.
 Creating the incentives for
SMEs.
 Enhancing the process of
intrapreneurship.

Link between entrepreneurial characteristics and
the influence of personal background
 Successful & unsuccessful entrepreneurs.
 Entrepreneurs are made, not born.
 Serial entrepreneurs.
 Desire for independence.
 No “true-entrepreneurial
profile”.

Positive and negative side of
entrepreneurs’ background
As the efficient entrepreneurs are not born, they are
made. Hence, there are none of the negative
consequences of the successful entrepreneurs. If the
business get implemented properly, the successful
entrepreneurs can enhance the large number of
positive points which can be attained by the
efficient entrepreneurs.

Conclusion
It has been concluded that the effective
entrepreneurs possess the efficient skills &
capabilities so that the smooth operations can be
enhanced & the new change or the innovation can
be generated. The scope of small business
enterprises is being determined at the local,
regional, local & also the International level.