Updated: 17 May 2015 04:32. By, Melkisedeck Shine.

Entrepreneurial Characteristics

It is clear that the definitions of the 'entrepreneur' are not similar. However, there are certain qualities and/or functions which explicitly or implicitly, feature in most of them. Each definition contains similar notions, such as newness/value, organizing, creating wealth, and risk taking, despite viewing the entrepreneur from a slightly different perspective. Failing to agree on a single definition, entrepreneurship specialists have resorted to drawing up lists of qualities and/or functions which typify the entrepreneur. Invariably, these lists include a combination of characteristics: People with entrepreneurial qualities and skills tend to enjoy the challenges, the hard work and the success of self-employment.

The characteristics of successful entrepreneurs

Successful entrepreneurs are usually described as follows;

Self-confident, Committed, Achievement-oriented, Innovative, creative, Self-reliant, Flexible, versatile, Energetic, Initiators, Positive thinkers, Moderate risk taker

Concentration, Discrimination, Organization, Innovation, Communication, Networking, Persuasive, Leadership qualities

Note: It is important to assess your own entrepreneurial characteristics. Every person is different and will have certain entrepreneurial characteristics that are stronger and others that are less developed. An honest assessment of your entrepreneurial characteristics can help you identify your strength and to identify areas that needs improvement.

Are Entrepreneurs Different?

Entrepreneurship is demonstrated when a person finds and exploits an opportunity to establish a business enterprise. Over 1.8 million small business entrepreneurs are doing this in the Tanzania. Comparable number for the whole world is huge. So what type of people are they?

Why and how People Become Entrepreneurs?

Push Factors

• Economic necessity
• Career frustrations

Pull Factors

• Need for achievement
• Need for independence
• From role model
• Need for flexibility

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There is no clear consensus among entrepreneurship specialists on the definition of the word ‘entrepreneur’ or that of its derivative, 'entrepreneurship'. While some people would treat small business owner managers and entrepreneurs as synonymous, the bulk of the entrepreneurship specialists attempt to draw a distinction between them. This distinction is central to an understanding of the meaning of 'entrepreneur'. We proceed to look at the definitions of these terms with a view to delineating the differences among them… read more

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