Entrepreneurship is a word that is becoming more and more popular as the people of America, as well as around the globe, try to find ways to become successful while solving the serious issues plaguing the nation and the world. The President of the United States, Barack Hussein Obama has mentioned entrepreneurship many times in his speeches, including in his most recent State of the Union Address for 2012. For some, it seems as though entrepreneurship may be their only way to survive the economic crisis that is affecting so many people. But what characteristics make a person become known as an entrepreneur?
In a previous article, a few of the definitions that have been given for the word “entrepreneur” have been discussed. Most of those definitions seem to agree that entrepreneurs have a certain drive, ambition and creativity that sets them apart from other business men and women. Entrepreneurs will see the opportunities that others might miss. If there is an unmet need in the market, many people will simply say to one another, “Well someone needs to invent (insert missing product here). It would make life so much easier!” But an entrepreneur will see the need, figure out a potential way to meet that need and work to make it happen.
The entrepreneur’s mind is always working, and at any point, they may have a myriad of ideas for new business opportunities or ideas that could improve life while providing monetary rewards. They may assess those ideas and decide which one is more lucrative before moving on to the next step to starting a business. Other entrepreneurs may only have one big idea. They will mold and form that idea until it has become their baby, and they nurture it and watch it grow.
The entrepreneur uses creativity to figure out the best way to meet the needs of the market and provide a product or idea that will benefit themselves as well as others. Their passion will keep them motivated even when everything does not fall into place as they hope. Their persistence and determination will push through where others may give up. They are focused on the end goal and will work towards it, often without worrying about the obstacles that may be standing along the way. The entrepreneur plans carefully to work through those obstacles when they pop up and uses his or her intelligence and energy to overcome the odds and make their dreams happen.
It does take more than just these characteristics in order to become a successful entrepreneur. Planning, discipline and more will help you along the path. A good business plan is needed, although a college degree may not be. Having no overhead when you start on your venture is also a big help. An entrepreneur will realize that becoming a successful business owner is hard work and that a company does not run itself. They will also know when to say “no” to an idea. Although they are risk takers, those risks are calculated and well evaluated before an entrepreneur acts upon them.
Angela Kaye Mason is an online researcher, writer, and contributor at entrepreneurweek.com blog network. She may be reached at email@example.com. Follow Angela on Twitter. Find her on Facebook .
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