Personal Qualities of Successful Entrepreneurs
Generally an Entrepreneur is seen as someone who starts a new business project. They are also seen as people that have a talent for seeing opportunities and proceeding to make it as profitable as possible. Some Entrepreneurs have managed to become successful in the business market and build an image, however not all Entrepreneurs have been successful in implementing ideas and business ventures. "Entrepreneurs who are fearless, adventurous and 'modern' usually build the best business fortunes, a new study has found." (http://www.fpb.co.uk/YaZY6Sdo5lMmUA.html). The study was conducted in 2002 and identified five categories of entrepreneurs. The most successful of the five are those identified as "rising stars" people who crave the prospect of owning a business and who are further motivated by success and fortune. At the other end of the scale are "walruses" conservative and self-assured group. Whichever group an entrepreneur falls under, the report identified that in all cases entrepreneurs need to rely heavily on technology to help them succeed.
1. Risk taking To be a successful entrepreneur you need to have the ability to evaluate risks. A common misperception is that entrepreneurs are wild risk-takers but in fact, when they do take risks, it is usually calculated ones. Richard Reed and his friends Adam and Jon quit their jobs to make smoothies. Although they had done a substantial amount of research before hand they still risked not gaining enough support in the open market. They had had difficulty in obtaining the finance needed but once they did they risked losing that money and being in debt. Although there was negativity towards them about their experience and the price of the product, they risked losing everything to make it happen, in which they became successful.
Another entrepreneur that had a lot of difficulty and risked losing everything was James Dyson. His bag-less vacuum cleaner is renowned on the market now, but getting it
1. Risk taking To be a successful entrepreneur you need to have the ability to evaluate risks. A common misperception is that entrepreneurs are wild risk-takers but in fact, when they do take risks, it is usually calculated ones. Richard Reed and his friends Adam and Jon quit their jobs to make smoothies. Although they had done a substantial amount of research before hand they still risked not gaining enough support in the open market. They had had difficulty in obtaining the finance needed but once they did they risked losing that money and being in debt. Although there was negativity towards them about their experience and the price of the product, they risked losing everything to make it happen, in which they became successful.
Another entrepreneur that had a lot of difficulty and risked losing everything was James Dyson. His bag-less vacuum cleaner is renowned on the market now, but getting it