Entrepreneur
The word „Entrepreneur‟ has been taken from the French word. It means
Between Takers.
E:xamine needs, wants, and problems to see how they can improve the way needs
and wants are metand problems overcome.
E:nlist the best sources of advice and assistance that they can find.
P:lan their ventures and look for possible problems that might arise.
N:ever hang on to an idea, no matter how much they may love it, if research shows
it won't work.
U:nderstand that they will have to work long and hard to make their venture
succeed.
R:ealize a sense of accomplishment from their successful ventures and learn from
their failures to help them achieve success in the future.
Entrepreneurs are different from each other, but successful entrepreneurs tend to
share certain characteristics. Not all of them have developed each of the following
to the same degree, but they tend to have developed most of them to some degree.
Here are some common characteristics of successful entrepreneurs.
o Be goal-oriented
o Be persistent
An appetite for hard work: Most entrepreneurs start out working long, hard
hours with little pay.
Make stress work for them: On the roller coaster to business success the
entrepreneur often copes by focusing on the end result and not the process of
getting there.
pick up your paycheck and leave the headaches to someone else? Most of us,
quite easily, choose the later.
2 Entrepreneurship as a Career
The greatest challenge before the youngsters in India today is to build the
country into an economic global giant. The obvious questions that come to the
minds of most of them are - “Why should we in India think of being an
entrepreneur? Why not work as part of a larger organisation where the
opportunities and resources to scale ideas are perhaps far greater?
Entrepreneurship is important for two reasons. One, it furthers innovation to
find new solutions to existing and emerging demands. Two, it offers far greater
opportunities for wealth creation for self and the society than anything else.
Entrepreneurship has its challenges. It is about 20 per cent luck and 80 per cent
effort, clarity, courage, confidence, passion and above all smartness.
Above facts are corroborated by the research findings of Gilad and Levine
(1986). They
To satisfy the dream of having high Financial Rewards: To satisfy the need
to derive high financial rewards as an outcome of efforts leads some to start a
business of their own. The fundamental difference between job and own venture
lies in the degree of financial rewards for the efforts put in to achieve
organisational goals.
Thus, leaving aside the pull and push factors leading to entrepreneurship, the
fundamental decision to take up entrepreneurship as a career option gets guided by
a three part process in which an individual weighs the desirability of self-
employment with the desirability of working for others, possession of
competencies and capabilities to undertake entrepreneurial venture. The fact
remains that present environment provides great entrepreneurial opportunities and
more and more youngsters are consciously opting for it a as career option.
Being the boss if his own business, he enjoys unlimited powers. He can do
things in his own way and he need not take orders from someone else. He
can make his own decisions and act on them.
Monetary rewards can be more than commensurate with his capacity and
capabilities.
He can command deference and respect of his immediate family and friends.
It is a kind of intangible reward.
He can be a great achiever realising his goals and proving his achievements
to the world. He can be recognised for his outstanding efforts.
Negative aspects
He has to work long and hard hours from morning to dusk and his venture
tends to absorb all his energy and time. This may affect his social and family
life.
He has to always work with tension since there is always the risk of failure.
3 Entrepreneurial Personality
Your business personality type are the traits and characteristics of your
personality that blend with the needs of the business. If you better understand your
business personality, then you can give your company the best part of you. Find
others to help your business in areas you aren't prepared to fulfill.
There are 9 key types of personality and understanding each will help you
enjoy your business more and provide your company with what it needs to grow.
This entrepreneur personality profile is based on the 9-point circle of the
Enneagram.