give qualities to become successful entrepreneur

Expert Solution

Entrepreneur :- An entrepreneur is an individual who creates a new business, bearing most of the risks and responsibilities along with the profits. An entrepreneur creates a firm which requires capital and labor in order to produce goods and services for its final consumer.Entrepreneurs commonly face many obstacles while building the company like: Overcoming bureaucracy, Hiring talent, Obtaining financing, Marketing strategy, Strapped budgets etc.

Qualities to become a successful Entrepreneurs are as follows:-

1. Determination- A successful leader never feel defeated by its failure, for them failure is a way to open the path of success. The will to do somthing make the person determined for the best which is a key of success.

2. Self Discipline- The important trait that all successful entrepreneur must possess is self discipline. It is the single most important quality for success in life as well as in business. Self discipline requires self- mastery, self- control, self- responsibility and self- direction.

3. Risk-taking ability- Entrepreneurship is all about taking risks. Entrepreneur have the ability to take greater risk with the view of achieving something great. A successful entrepreneur knows when to take risk and which risk is beneficial or harmful to the company.

4. Competitiveness- Everyday a new company is forming and increasing as every entrepreneur feels that they can do better then the others.They work with the aim to win the race.This competing attitude makes the person to do better and unique from others to stay in the business and succeed.

5. Decision making- Entrepreneurs need to make quick decisions and take quick action for the success of their business. Entrepreneurs should always be present minded to make decision. They should always be well researched about the current situations so that they can come up with the best of their knowledge.

Apart from these qualities a businessman should be Creative, Passionate, Optimistic, Goal minded, Puntual ability of Money management etc.

Thses are the qualities an entrepreneure need to adapt to become a successful entrepreneur.

Rahul Sunny answered 1 year ago

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