The Characteristics Needed by an Entrepreneur to Become Successful

Entrepreneur is a person who is willing to take the financial risks to start managing a new venture.

An example of a successful entrepreneur is Walter Elias Disney, the founder of Walter Disney that created numerous unsuccessful animations until he became famous with Mickey Mouse. In later years, he built Disneyland which is a them park with all his cartoons he created as the idea of the theme park and now have many branches worldwide.

The first characteristic is the entrepreneur has to be innovative, able to carve a new niche market with his own original idea. With this quality, he could have attracts the consumers attention as it is being present as being 'different' from the others. However if he does have this ability, he would have less chance of being success due to high competition.

another characteristic is willing to take the financial risks since making any decisions would either lead the business toward a success or vice versa. An entrepreneur who dare to take the risk is dare to try new ideas which makes them outstanding. Whereas the entrepreneur who are not willing to take the risk will be laid back in terms of competition and as a result, lose to the other competitors.

Another characteristic is the ability to bounce back since most newly establish business often fail and that could demotivate them from continuing the business.

In conclusion, an entrepreneur need to have certain characteristics such as innovative, willing to take risk and the ability to bounce back in order to become a successful entrepreneur.