Entrepreneurship Report: Evaluating Traits of Successful Entrepreneurs

This report delves into the world of entrepreneurship, defining the term and exploring the crucial traits, behaviors, and characteristics that contribute to success in the business world. It draws upon academic literature and articles to identify and analyze these key qualities, such as vision, passion, innovation, risk-taking, leadership, persistence, ethical behavior, and a competitive spirit. The report then focuses on a case study of Bill Gates, examining his leadership style and how specific traits, like focus, creativity, and caring, have contributed to his achievements. It also acknowledges potential weaknesses in his approach, providing a balanced perspective on his entrepreneurial journey.

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3/21/2020

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Contents
About entrepreneur.....................................................................................................................2
Traits, behaviours or characteristics for entrepreneur................................................................3
1. Vision and Passion..........................................................................................................3
2. Innovative........................................................................................................................3
3. Risk Taker.......................................................................................................................3
4. Leader..............................................................................................................................3
5. Persistent.........................................................................................................................4
6. Ethical.............................................................................................................................4
7. Competitive Spirit...........................................................................................................4
8. Resilient...........................................................................................................................5
Bill Gates....................................................................................................................................5
Reason of choosing this entrepreneur....................................................................................6
Traits of the Bill Gates Leadership Style...................................................................................6
1. Focus...............................................................................................................................6
2. Big Picture.......................................................................................................................6
3. Creativity.........................................................................................................................6
4. Caring..............................................................................................................................7
5. Education.........................................................................................................................7
6. Passionate........................................................................................................................7
Weaknesses of the Bill Gates.....................................................................................................8

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1. Arrogance........................................................................................................................8
2. Results-Driven.................................................................................................................8
3. Conflict Avoidance.........................................................................................................8

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About entrepreneur
An Entrepreneur is an individual who develops a new company, holds the most risks and
rewards. The inventor is usually known as an innovator, a pioneer of innovative innovations,
products, services and procedures (Ogunsiji, and Ladanu, 2017).
The expertise and effort needed for predicting requirements and selling strong innovative
ideas play a key role in every economy. Businesses that show performance in the challenges
of start-ups are recognized by income, prestige and sustainable prospects for development.
Many that lose are failing and less common in the markets.
Throughout the classic phrase, an Entrepreneur starts a new business enterprise and develops
the corporation throughout keeping with what he or she considers as an unsatisfactory desire
for the sector.
In this way, both a company creator and a small business owner are characterized by an
entrepreneur. Nevertheless, not every promoter or owner of a small company is a contractor.
Companies who are selling current goods or services in a manner comparable to those on the
market, even though they provide better products or services, are not called entrepreneurship.
The business enterprise needs a different or special feature or method to fulfill the concept of
entrepreneurship. For starters, when they started the business in 1980 they saw the potential
of supplying natural food goods in an existing market (selling grounds), which focuses
mostly on distributing industrial and manufactured items, they are called pioneers (Lee, Lee,
Chua, and Han, 2017).

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Traits, behaviors or characteristics for an entrepreneur
1. Vision and Passion
An entrepreneur wants a good view of his company. He will also be prepared to
manage his objectives and ambitions on a long and short term basis. He wants to be
able to express and effectively chart his potential ambitions (Kim, 2010).
Another critical characteristic of an entrepreneur is his love for his job. Job is hard work
and long hours, and he has to be serious about what he does. Such a love can be a
positive and difficult job.
2. Innovative
Entrepreneurship is one of the core characteristics of the industry. The client seeks and
takes advantage of the demand in the sector.
He brings innovative goods and services to the industry to satisfy the customer's
requirements. Innovation maybe even in a manufacturing phase, creative ads, and
modern campaign techniques.
3. Risk Taker
A significant feature is a challenge for rising emerging businesses. However, it is
incredibly necessary because the investor takes on the whole responsibility of the
business. The contractor must always be arrogant and messy (Conejo, Parthasarathy,
and Wooliscroft, 2015).
4. Leader
A good entrepreneur's most essential attributes include leadership. Each good
entrepreneur is a successful leader. They will inspire and deliver prosperity to their

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workers. They do have the energy, experience, and capacity to draw their companies like
good leaders from a tight corner.
5. Persistent
A successful entrepreneur is by definition still lasting. A business is rarely a winner
overnight. It needs a tremendous deal of hard work and luck.
Yet a continuing entrepreneur gets his success. If not introduced to him, he will build
opportunities. There is still a better likelihood of achievement for a successful
entrepreneur who operates tirelessly (Umrani, Mahmood, and Ahmed, 2016).
6. Ethical
A successful entrepreneur is also in essence enduring. A business rarely performs
immediately. This takes tremendous hard work and luck. Yet a successful contractor
makes a chance of his own. When not introduced to him, he will build possibilities.
There is therefore also a better likelihood of a successful leader operating unfailingly.
7. Competitive Spirit
The field of industry is a place of cutting edge. Every day, thousands of new businesses
are founded and fall. And there will still be a strong and severe rivalry. This is a great
atmosphere for someone who is still ambitious by design and thrives in these demanding
conditions.

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8. Resilient
Finally, durability is one of the most significant qualities of a good contractor. There's no
quick and effective course. Any bugs and roadblocks can still exist. The entrepreneur must
also be robust and consistent in his performance.
Bill Gates
Entrepreneur and businessman Bill Gates and his business partner Paul Allen founded and
built the world's largest software business, Microsoft, Technological progress, effective
marketing plans, and proactive management methods. Gates becomes one of the world's
wealthiest people in the end. Gates revealed in February 2014 that he would step down to
work as President of the Bill and Melinda Gates Foundation with the Microsoft Organization
and concentrate on charity activities (Bel, 2010).
On October 28, 1955, in Seattle, Washington, Gates Gates was born to William Henry Gates
III. Gates grew up with his old girlfriend, Kristianne, and his younger sister, Libby, in an
upper-middle-class household. When they met his aunt, Mary Maxwell, their father, William
H. Gates Sr., was a successful, if rather tentative, student of law. She was a sporty,
enthusiastic woman, involved in academics and leadership at Washington University.
The environment of the Gates family was warm and intimate, and all three children were
motivated to succeed and aspire for excellence. As he organized family sports games on
Puget Sound in his Summer Home, Gates displayed early indicators of competition. He also
loved playing board games and was excellent at Monopoly (Risk was his favorite).

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Reason for choosing this entrepreneur
That's just what Bill Gates does, that has changed the world and every other That professional
has created and designed applications in his Microsoft windows system. Today, we are going
to see certain odd items that are popular only by Bill Gates. There will be stuff you realize it's
common and items you never heard about Bill will happen.
Traits of the Bill Gates Leadership Style
Six specific characteristics are an important part of Bill Gates ' approach to the idea of
leadership.
1. Focus
it is really special to learn more than information. Gates concentrates on the tech that
is what he does best, which making it the finest it can be. He managed to conquer his
business, place implementation high on the agenda and hold to his best abilities. The
research he does on his charitable foundation also reveals this emphasis.
2. Big Picture
Gates uses a realistic path to reaching targets. He has a big portrait that he cares about.
Gates is using a step-based approach to pursue his dream instead of a concept that is
not approachable. It's like going up an escalator. That form of leadership helps you to
move by move instead of running from below to the top (Lunenburg, 2012)
3. Creativity
installing himself and his men to take inspiration instead of remaining in a
comfortable environment. His style of leadership benefits people by offering fresh
ways of discussing solutions from different experiences. While many people followed

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him because of his charm, other people followed Gates because they realized he was
going to help them become better leaders.
4. Caring
While Gates is sometimes known as one of the world's wealthiest men, it is often one
of the world's most prominent donors to philanthropic causes. Gates vowed to offer
up half of his fortune in 2010, along with Warren Buffet. More than 28 billion dollars
have been pledged to his charity to send 90 billion dollars over the total. The mind-set
of caring was always present in the workforce to ensure that employees could achieve
the best they could if they chose.
5. Education
Also while Gates is also identified as one of the world's wealthiest, it is one of the
world's biggest contributors to philanthropy. In 2010 Gates agreed to share a portion
of its resources through Warren Buffett. In 2010. More than 28 billion dollars have
been donated to his foundation to send 90 billion dollars in time. That loving
mentality was often evident in the job such that employees would have the greatest
opportunity to excel if they needed it (Lunenburg, 2012).
6. Passionate
Love or dislike Microsoft goods, Gates has a lot of respect for everything that he has
been doing with the business. And though the only thing he wanted was to compose a
thank you, a letter from his heart was promised to you. Unlike other change figures,
Bill Gates's philosophy is that anything worth achieving can be achieved its better
benefit.

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Weaknesses of the Bill Gates
There's nothing fine. From time to time, every leader makes errors. Leaders have different
vulnerabilities to be found to improve through. Ignoring the shortcomings is a sign that you
are not yet able to take managerial responsibilities. Those are the main shortcomings found
by Gates as part of his overall leadership outlook (Lunenburg, 2012).
1. Arrogance
There is a fine line between cockiness and arrogance if an individual is enthusiastic
and knowledgeable of a topic. Gates offers thoughts or suggestions that he feels are
correct. It is this theory that is being sought because he thinks like his plan is the right
option. When this concept does not come to life, instead his commitment to the work
will become a liability, especially if other ideas are raised (Onwumere, Onwukwe,
and Alamba, 2012).
2. Results-Driven
Many executives in change search for outcomes across procedures. One of the only
exceptions to this law is Bill Gates. Although the outcomes were often guided, and
often the goals explained the methods, the rational measures to improvement were
often overlooked. He concentrated so he and his colleagues on meeting the targets that
he and he lost control of the moves (Zahra and Wright, 2011).
3. Conflict Avoidance
Transformation advocates want citizens to be placed on the same board. The purpose
is to concentrate the entire team on achieving a single objective, task or dream. Even
when you move someone fast, they start fighting back. Gates would always escape
confrontation if he could, would not address the problem face to face because he was

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discomforted by the process of dispute. If there is an inability to tackle a dilemma,
toxic forces will erupt and blanket a team with their power.
It's not always easy to be a chief like Bill Gates. You ought to be able to face changes.
The urge to turn the workforce into a dynamic safe space where change is a daily priority
must be conveyed directly. Include any persistence and a blueprint is accessible for good
leadership (Greblikaitė, and Kriščiūnas, 2012).

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REFERENCES
Bel, R., 2010. Leadership and innovation: Learning from the best. Global Business and
organizational excellence, 29(2), pp.47-60.
Conejo, F., Parthasarathy, M. and Wooliscroft, B., 2015. On using big five facets for
entrepreneurship’s personality research: conscientiousness’ taxonomy. Journal of
International Marketing Strategy, 3(1), pp.55-73.
Greblikaitė, J. and Kriščiūnas, K., 2012. The Development of features of entrepreneurship’s
expression in an enterprise. Inžinerinė ekonomika, pp.525-531.
Kim, H.S., 2010. The research on Entrepreneurship's will according to college students'
MBTI personality type and Job's type. Asia-Pacific Journal of Business Venturing and
Entrepreneurship, 5(2), pp.89-114.
Lee, S., Lee, K.S., Chua, B.L. and Han, H., 2017. Independent café entrepreneurship in Klang
Valley, Malaysia–Challenges and critical factors for success: Does family matter?. Journal of
Destination Marketing & Management, 6(4), pp.363-374.
Lunenburg, F.C., 2012. Power and leadership: An influence process. International journal of
management, business, and administration, 15(1), pp.1-9.
Ogunsiji, A.S. and Ladanu, W.K., 2017. A theoretical study of performance measures in the
strategic and corporate entrepreneurship of firms. International journal of physical sciences
and engineering, 1(1), pp.72-80.
Onwumere, J., Onwukwe, F. and Alamba, C.S., 2012. Comparative analyses of modern and
traditional beekeeping entrepreneurship in Abia State, Nigeria. Journal of Economics and
Sustainable Development, 3(13).

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Onwumere, J., Onwukwe, F. and Alamba, C.S., 2012. Comparative analyses of modern and
traditional beekeeping entrepreneurship in Abia State, Nigeria. Journal of Economics and
Sustainable Development, 3(13).
Umrani, W.A., Mahmood, R. and Ahmed, U., 2016. Unveiling the direct effect of corporate
entrepreneurship’s dimensions on the business performance: a case of big five banks in
Pakistan. Studies in Business and Economics, 11(1), pp.181-195.
Zahra, S.A. and Wright, M., 2011. Entrepreneurship's next act. Academy of Management
Perspectives, 25(4), pp.67-83.