Traits and skills of successful entrepreneurs

Introduction

Entrepreneurs have organisational capability that makes them unique. This article analyses the traits and skills of successful entrepreneurs. Successful entrepreneurs have entrepreneurial, innovative, and creative solution making skills that differentiate them from business managers.

Traits and skills of successful entrepreneurs who are different from managers

Need of independency

An important trait of a successful entrepreneur is that they have high need for independence (Abdullah, Hadi and Dana, 2018). These are the group of people who want to earn their livelihood independently, in contrast to the make lives by doing jobs. Need of independency means the freedom of taking own decision and make own work. An entrepreneur wants to be independent and make their own work which is different characteristic of managers because managers usually do work for other businesses. This analysis shows that an entrepreneur looks for independence whilst a manager works under an organisation. Therefore, seeking for independence is an important trait of a successful entrepreneur.

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Risk taker

The most important trait of a successful entrepreneur is the ability to take risks. Entrepreneurs do not fear for risks, rather they take risks through establishing new ventures. This is an important features that differentiated them from managers because managers follow proved method to achieve the business objectives.

Passionate efforts to achieve objectives

A sheer need to achieve the objectives through passionate efforts is an essential trait of an entrepreneur. Entrepreneurs do business that they love to do and what they do is with passion. On the other hand, managers do the work as their boss requires, here self-satisfaction is less important. Therefore, passionate efforts is an essential trait of a successful entrepreneur.

Creative solution finder

Another important trait and skill of an entrepreneur is the ability to find creative solutions to complex problems. Entrepreneurship needs creative solution for the problems that may be obstacle in the way of success. Entrepreneurs have the ability to find creative solution and managers are not able to find that kind of solution.

Visionary leadership

Visionary leadership is an important trait of a successful entrepreneur (Kaur and Bains, 2013). An entrepreneur must have power, desire, important knowledge to target long term aim with discipline and inventiveness. And they should have the ability to lead their team. The entrepreneurs who can influence their team to achieve the aim is visionary leader. This leadership makes an entrepreneur different from a manager.

Always looking for opportunities

In entrepreneurship, it is very important to find out the opportunities that remain around. Entrepreneurs always look for new opportunities and utilize them for the business. Looking for opportunities is also a great characteristics of entrepreneur that makes them different from manager.

Willing to be own boos

Managers work under their boss and entrepreneurs are their own boss. Entrepreneurs always want to become own boss which boosts their dream and work. This is one of the basic trait of a successful entrepreneur.

Finding positivity

Finding positivity in negative atmosphere makes entrepreneur successful. This means being positive is an important skill and trait of a successful entrepreneur. They make negative scope positive and utilize the scopes appropriately. Manager cannot find positivity as entrepreneurs do.

Positive relation maker

In business, making positive relation is mandatory. Positive relation making is the basic need in the way of Success for entrepreneurs. For example, when entrepreneurs make positive relation with suppliers and buyers it will bring better outcome. If they make positive relation with employees it will keep employees motivated. Positive relation with customers can increase sales and maintain repeated sales. Entrepreneurs are positive relation maker that also makes them different from managers.