Entrepreneurship: Traits, Skills, and Background in Small Business

This presentation delves into the characteristics, traits, and skills essential for entrepreneurial success, highlighting how these factors differentiate entrepreneurs from managers. It examines the personalities of successful entrepreneurs like Laurence Graff and Alan Sugar, emphasizing traits such as passion, self-motivation, time management, collaboration, open-mindedness, risk-taking, curiosity, and versatility. The presentation also discusses the OCEAN model for understanding entrepreneurial personalities, focusing on openness, conscientiousness, extraversion, agreeableness, and neuroticism. Furthermore, it analyzes the role of an entrepreneur's background and experiences, using the examples of Graff and Sugar to illustrate how early life and career experiences shape their entrepreneurial journeys. The presentation concludes that specific traits and skills, combined with the influence of personal background, are crucial determinants of success in the entrepreneurial world. Desklib provides students with access to a wealth of resources, including solved assignments and past papers, to further support their learning and understanding of entrepreneurship.

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:

Continue …..
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.

Continue …..
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

Continue …..
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

Continue …..
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

Continue …..
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

Continue …..
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.

Continue …..
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