The paper "Attributes of Becoming an Entrepreneur" is a great example of business coursework. The world’ s famous entrepreneur stories, mostly from the Dot Com boom make everyone believe their dreams are valid. However, it is not always that a company that starts in the garage or basement grows into a multi-billion dollar enterprise. In fact, the number of new businesses, some with a lot of potentials, that fails in the first few months or a year after they begin, is surprising. It is simply not enough to dream, one must cultivate the character traits, skills, knowledge and attributes required to become an entrepreneur. Traits and qualities of a good entrepreneur Starting off is one of the most difficult aspects of the entrepreneurship journey.
Often, the company has, or involves the input of several people, collaborating to bring the business to fruition. The entrepreneurship journey requires strong leadership qualities for the entrepreneur. The best leaders must demonstrate their ability to value the goal over any distractions or difficulties involved in the course of doing the job (Bowser 2015). The journey will no doubt be risky, especially for those entering a completely new industry.
For many entrepreneurs, they basically try to convince their customers that they need something they did not know they needed before. The entrepreneur must have the ability to navigate uncertain waters. They must be able to make progress and important decisions, even when they do not have the whole picture clearly. They must not only have a tolerance for ambiguity, but also a high degree of flexibility, ability to change with the demands of the market and their customers. Every good entrepreneur must be self-motivated.
From the literature and stories, the most popular entrepreneurial minds, the Steve Jobs caliber of businessmen, had very intense personalities. For some, reports by employees indicate that their intensity bordered on obsession. They had a clear vision of what they intended to achieve and obsessively focused all their energies on it (Eadicicco 2014). In fact, this character trait is important in the continued success of the business. When asked what makes Apple so successful, founder Steve Jobs replied that they maintained the start-up spirit. One of the fundamentals of the start-up spirit is the self-motivation and drive to see things happen.
Entrepreneurs are highly driven and work tirelessly to find solutions to the problems they face. To achieve the highest levels of success, though, one must have the drive to achieve more, above the desire for money. The entrepreneur should view the money as a confirmation of their success, and not as their end goal. The entrepreneurship journey is an emotional one. When one spends as much time as most entrepreneurs do, making plans and thinking up ideas, it is easy and normal to develop an emotional connection with the business.
While this is important in motivating the entrepreneur, it must not get in the way of their rationality. They must be willing to make those difficult decisions when the time comes. A lot of lessons are learnt along the way, and one must realize the value of knowing that they will not always have the solutions and understand everything. A good entrepreneur must be willing to admit and recognize where they are deficient and where they make mistakes, and be willing to accept input to correct them.
Bowser, J., 2015. 8 traits of successful entrepreneurs--Do you have what it takes? [Online] Available at: www.mbda.gov/blogger/starting-business/8-traits-successful-entrepreneurs-do-you-have-what-it-takes
Eadicicco, L., 2014. Working with Steve Jobs, Summed up by a Former Employee. [Online]
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Harris, J. D., Sapienza, H. J. & Bowie, N. E., 2011. Ethics and Entrepreneurship. Journal of Ethics and Entrepreneurship, 1(1), pp. 407-418.
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