Reflective Essay

Bygrave, W.D. & Zacharakis, A. (2014). Entrepreneurship, 3rd ed. Hoboken, NJ: John Wiley & Sons, Inc. ISBN: 978-1-118-58289-3

What do entrepreneurs do that distinguishes them from any other person involved in business? Why is it that personality characteristics may be good predictors of who will be a successful entrepreneur?

There are different factors that can influence the success of a business. For each entrepreneur, the factors might be different depending on their knowledge, skills, and personal traits. However, I will mention a few key points that I consider are relevant and every entrepreneur should take into account in order to succeed. The most critical factors are execution, knowledge and skill, honesty and integrity, passion, hard work, and persistence (Sutevski, n.d). An entrepreneur needs to execute his or her ideas. Only actions lead to success, it doesn’t matter how great the ideas or plans are if there is no action there

This article talks about how it can be difficult to be an entrepreneur but it’s worth it. An entrepreneur is when one lives off their own business. Eades talks about how by starting your own business you can make a positive impact no matter the risk that exists of failing. The author mentions a few people that are well known that became very successful; for example, Steve Jobs and Bill Gates. Following their footsteps is very extreme; it can be a goal but it is something

The information provided is general though the characteristics seem to be wide spread among the most successful serial entrepreneurs. Entrepreneurs are not every day or common. Every American does not choose to open businesses.

First, in the chapter six assessment we learned about managing small business startups. This “Do You Think Like an Entrepreneur?” assessment measures the likelihood of me becoming an entrepreneur. The self-assessment questions to some aspect of improvisation, which is a correlate of entrepreneurial intentions. Entrepreneurial improvisation consists of three elements such as creativity, ingenuity, and the ability to produce novel solutions under constrained conditions. Successful entrepreneurs also have the ability to work well under pressure while also having action, persistence, and the determination to achieve goals and solve problems in the moment. Based on my personality, I would have assumed that I would was not fit to be entrepreneur because although, I am always

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses

Thus, a successful entrepreneurship is created and developed from an innovative and simple idea or concept. It is the small seed for a big enterprise or small business. The entrepreneur should collect information pertaining to various profitable opportunities available ina region or country. Then, he has to select an idea, which can be

There has been extensive research conducted on the characteristics that successful entrepreneurs possess. These attributes vary widely across literature, however there are common key traits that are required to achieve any form of success. Frederick et al (2013) suggest entrepreneurs are risk takers, optimistic, have sound judgement and an ability to manage. While a review of literature relating to the psychology of an entrepreneur reveals a large variety of characteristics in a successful entrepreneur, these can be consolidated to a a few into only a few traits that are essential for a successful entrepreneur. Whilst taking into

In order to become a successful entrepreneur, you have to be a highly motivated individual. It is important to have

As much as entrepreneurial mindset is important for business success, it is also vital to understand the current level in each entrepreneurial community by identifying which factors are lacking that needs to be improved as a means to foster the success of entrepreneurs. The above statement relates with the fact that business success in the new economy is merely not a function of relevant skills; but requires people with entrepreneurial mindsets.

Business success may causes due to many factors, but the greatest determinant of the business success is the entrepreneur himself / herself. Therefore, the question of what makes a successful entrepreneur is very important. There have been many answers to this question. Some people think entrepreneurs are born, others that they are made. Some see entrepreneurs as passionate leaders with a vision that is totally focused on one objective, while others describe them as compulsive controller. Some says entrepreneurs are risk takers while others say they are

Entrepreneurs are innovative pioneers who venture opportunities and create new market at home and aboard (Frederick, O 'Connor, & Kuratko, 2013).

Entrepreneurship is induced by an individual’s skills, attitudes, motives and psychological ability. The entrepreneur as an individual is affected by the circumstances in which he or she is acting, as a result, entrepreneurial actions and motives are influenced by the business environment, cultural and institutional factors and macroeconomic conditions (Pirich, 2001).

An Entrepreneur is someone who is creative and innovative and identifies a business opportunity or gap in the market for a new or adapted product or service. The importance of an entrepreneurial business at all levels is essential to a country’s economic development as well as wealth and employment creation within a country. To a large extent this is dependent on the entrepreneur who applies certain talents, skills and expertise in the start-up, development and growth of businesses. Entrepreneurial development is the origin of successful entrepreneurial activity, and although some entrepreneurs are born, it is possible to develop individuals into becoming entrepreneurs.