Characteristics and Skills of an Entrepreneur

Entrepreneurial Characteristics

Not Everyone wants to be an entrepreneur and run their own business. Being an entrepreneur requires specific characteristics and skills that are often achieved through education, head work, and planning.

Risk Taker

Businesses face risk. Entrepreneurs minimize risk through research, planning and skill development

Imaginative
Entrepreneurs are creative. They imagine solutions to problems that encourage them to create new products and generate ideas

Persistent

Goal-setting

Self-confident

Flexible

Independent

Research Skills

Gathering Information

 Reliable and relevant sources of information may include
-books
-periodicals
-indexes and databases
-the internet
-consultants
-professionals
-schools

Using Information

Management Skills

Planning

Organizing

Directing

Controlling


Human Relationship
-Staff
-Suppliers
-Customers

Marketability

Entrepreneurs need to ask themselves the following questions about their product, or charity
-Does your target market want this product? Prove it
-What is your competition? How much of the market do they own already? How will you take it away from them?
-Are you competitively priced?
-Is this a short-term venture? How long will it last?
-What do you offer that no other product, service, or charity offers? Why would a customer pay money for what you provide?

Profitability