Entrepreneurship Development and Communication Skills (1+1)

4.1.2 Characteristics of Entrepreneurs

David McClelland feels that an entrepreneur is one who is driven by the need for achievement towards accomplishment of tasks that challenge his competence. An Entrepreneur exhibits the following characteristics or traits which clarify the nature of entrepreneurship:

(i) Innovative ability . An entrepreneur has a creative ability to search for new opportunities.

(ii) Desire to accomplish . The entrepreneur has a strong desire to accomplish.

(iii) Energetic activity. The entrepreneur exhibits a high level of energy and spends a large proportion of his time in finding out novel ways of getting done the set task.

(iv) Risk taking . The entrepreneur takes moderate risks to achieve his goals.

(v) Perception of good ideas . It involves collecting and analyzing facts and thereafter falling upon his own self-confidence for accomplishing the task.

(vi) Future-oriented . The entrepreneur plans and thinks for the future. He anticipates possibilities that lie beyond the present.

(vii) Desire for responsibility . The entrepreneur is ready to be personally responsible for the results of his decisions.

(viii) Skill in organizing . Entrepreneurs have remarkable skill in organizing work and human resources.

(ix) Flexibility . Achievement-oriented entrepreneurs are adaptable and flexible to adjust with the changed circumstances.

(x) Self-confidence . The entrepreneur has his own individuality and possesses great amount of confidence in himself. This helps in trying out new ideas.