Question

1: What are the characteristics of an entrepreneur (describe in sentence form and explain why it is a valuable characteristic). (5 characteristics)
2: Describe an entrepreneur (by name) who exemplifies entrepreneurial characteristics. (5 entrepreneurs)

Answer 1

1. Characteristics of an entrepreneur

1)Self Motivation

of the most important traits of entrepreneurs is self-motivation. When you want to succeed, you need to be able to push yourself. You aren’t answerable to anyone else as an entrepreneur, and that sometimes means that it’s hard to get moving without anyone to make you. You need to be dedicated to your plan and keep moving forward — even if you aren’t receiving an immediate paycheck.

2) Take Risks

Successful entrepreneurs know that sometimes it’s important to take risks. Playing it safe almost never leads to success as a business owner. It’s not about taking just any risk, though. Understanding calculated risks that are more likely to pay off is an important part of being an entrepreneur. You’ll need to be willing to take a few risks to succeed.

3) Basic Money Management Skills and Knowledge We often think of successful entrepreneurs as “big picture” people who don’t worry so much about managing the day to day. And it’s true that you might have an accountant or other team members to help you manage the business. However, if you want to be successful, you should still have basic money management skills and knowledge. Understand how money works so that you know where you stand, and so that you run your business on sound principles.

4). Flexibility

To a certain degree, you need to be flexible as an entrepreneur. Be willing to change as needed. Stay on top of your industry and be ready to adopt changes in processes and product as they are needed. Sometimes, you also need flexibility in your thinking. This is an essential part of problem-solving. You want to be able find unique and effective solutions to issues.

5). Passion

Finally, successful entrepreneurs are passionate. They feel deeply about their product or service or mission. Passion is what will help you find motivation when you are discouraged and it will drive your forward. Passion is fuel for successful entrepreneurship. If you find yourself losing your passion, that might be the clue that it’s time to move on to something else (that stokes your passion). There are many serial entrepreneurs that create successful businesses, sell them, and then create something else.

All 5 characteristics which are mentioned above are valuable because

Entrepreneurs not only need to have good decision making skills, but also must have the capacity to make those decisions quickly in order to avoid missing opportunities and help entrepreneurs achieve their goals. in this way these characteristics are valuable without these characteristics entrepreneur can not achieve their goals .

Part 2. Description of entrepreneurs

Steve Jobs, the late tech leader who started Apple in a garage and grew it to the dominant tablet, smartphone and computer company it is today.

Elon Musk, who founded SpaceX and has since become known for putting the billions of dollars his company has earned him toward projects, including providing clean water to Flint, Michigan, and donating FDA-approved ventilators to hospitals fighting COVID-19.

Bill Gates, the Microsoft creator and founder who has often been listed as the world's wealthiest individual and has become a global leader on pandemics and how to handle them.

Andrew Carnegie was an American entrepreneur who actually immigrated from Scotland

Oprah Winfrey, is a shining example of an American success story. While she did not reveal her past until 1986, Winfrey was a victim of sexual assault at the age of 9 and became pregnant at the age of 14 before losing the child during childbirth.