VAE 511: Livestock Entrepreneurship (1+0)

Qualities of an Entrepreneur

QUALITIES/CHARACTERISTICS OF AN ENTREPRENEUR

Some of the essential qualities of entrepreneurs are as follows:

• Success and Achievement: The entrepreneurs are self determined to achieve high goals in business, which strengthen them to oercome the obstacles, suppress anxieties, repair misfortune and desire expedients, to run a successful business.
• Opportunity Explorer:A common criterion among successful entrepreneurs is their focus on opportunity rather than on resources, structure or strategy.
• Integrity :Integrity and reliability are the glue and fiber that bind successful personal and business relationships and make them endure.
• Optimistic and confident : As entrepreneurs, they often face obstacles and down periods and during these difficulty days, their self confidence and optimism only helps them to get out of the crisis.
• Risk Taker: Entrepreneur accepts risk. They select a moderate risk situation, rather than gambling or avoiding risk. They understand and manage risk willingly.
• Energetic: The extraordinary workloads and the stressful demands entrepreneurs face place a premium on energy. Many of them, fine-tune their energy levels by monitoring their diet, following a fitness regime and knowing when to relax.
• Opportunity Explorer: Always entrepreneur identifies opportunities. He seizes the opportunity with both hands and converts them into realistic achievable goals. It may be in the form of new product, newer methods of production or marketing strategies such as location.
• Perseverance: Entrepreneur makes efforts and works hard till the goal is successfully accomplished. They are undeterred by uncertainties , extreme risks and difficulties coming in the way of achievement of final goal.
• Facing Uncertainty: Achievement oriented people tend to successfully tackle an unfamiliar situation. They go ahead with solutions for the problems even when the guidelines are not available. It is more common in the case of entrepreneurs, since they try to do newer things.
• Seek Feedback: Entrepreneurs are quick learners. Entrepreneur likes to have prompt and immediate feedback of their performance to improve upon continuously so as to cater to the ever changing consumers' lifestyle.
• Independence: Entrepreneur likes to be their own master and wants to be responsible for their own decision. An entrepreneur is a job giver and not a job seeker and don't want to follow others or being dictated.
• Flexibility: Entrepreneur makes decisions time to time based on the prevailing situations. Successful entrepreneur does not hesitate in revising their decision. Entrepreneur is a person with open mind, not a rigid person.
• Planner: Entrepreneur frames realistic business plans and sets goals and follows them rigorously to achieve the objectives in a stipulated time limit.They plan meticulously and execute it.Though the plans seems to be out of the world, they have the vision and ability to achieve it.
• Self Confidence: Entrepreneur directs his abilities towards the accomplishment of goals with the help of his strengths.
• Motivator: A distinguishing character which separates entrepreneur from the rest of the flock is his ability to motivate his workers. Entrepreneur influences and initiates people and makes them think in his way and acts accordingly.They could improve the productivity of their employees by their motivation.
• Stress Taker: Entrepreneur as a focal point will make many right decisions which may involve lot of physical and emotional stress. While decision making he keeps his cool even under tense situations.
• Self-starter: The ability to take the initiative, work independently and to develop own ideas.
• Commitment - The willingness to make personal sacrifices through long hours and loss of leisure time.More than any other factor, total dedication in the work is the unique quality of an entrepreneur.
• Ability to move - As an entrepreneur, he should always move ahead as success comes with overcoming setbacks.
• Vision - Entrepreneurs know the path and direction they have to travel. They have clear vision of what their farms can be and go after it.
• Team work - Entrepreneurs always believe in team work and motivate it among the workers.