Wanna Be an Entrepreneur?

Lets know about an entrepreneur-

Entrepreneur is a person who takes the risk or has the capability of taking risk for starting and developing new business venture. Entrepreneur is such a person who creates something novel by the work done by him/ her. This creation means the creation of new opportunities or utilities for his or her self development as well as for the society.

Risk taking capability of an Entrepreneur

An entrepreneur is a person who takes the risk by purchasing goods at a certain price and selling them at an uncertain price. He/ she must have the capability of taking risk, foresightedness, good leadership, persistent, creativity, dynamism and other necessary characteristics to be a successful entrepreneur. An entrepreneur is such an entity which never born rather it is created through proper mode of practices done by him or her. So, we can say that an entrepreneur is a person who organizes an economic venture on the basis of taking calculated risk and controlling the venture for further development and expansion.

What are the characteristics of an Entrepreneur?

Practice to become a successful Entrepreneur

To be an entrepreneur a person must have certain characteristics which express his/ her identity as an entrepreneur. The general characteristics of an entrepreneur are-risk taking capacity, creativity and innovation, need for achievement, industriousness, self-confidence and firm determination. 

There are some behavioral and psychological characteristics of an entrepreneur such as- i) need for achievement ii) risk taking propensity iii) need for power iv) internal external locus of control v) need for autonomy and vi) creativity. Now here are some characteristics on the basis of function of an entrepreneur. Those are- a) risk taking b) innovation and creation of new business ideas c) development and extension of existing venture and d) management & marketing. There are some other characteristics that can be found in an entrepreneur such as- leadership capability, foresightedness, opportunity seeking ability, high levels of ambition, proper decision making capability, dynamism and time conscious.