By Prashant K Mishra—–

Qualities of an Entrepreneur:
1. Determined— Linked to commitment – sticking with something until its done,
About not giving up , Overcoming problems no matter what the odds

2. Ready to take Initiative—- Entrepreneurs MUST be able to take the Initiative
Initiative means making the first move, spotting opportunities and being proactive
Taking the initiative is linked to being a self starter (working independently)

3. Taking Risks–Entrepreneurs have to be RISK TAKERS
Having your own business is almost always riskier than working for someone else

4. Decision making –Business owners and entrepreneurs have to
make decisions
Good decision making is linked to good judgement. Why?
Entrepreneurs must consider information, listen to advice and ensure they make the right decision for the business

5. Ability to Plan—-If you FAIL TO PLAN you PLAN TO FAIL
The larger the business, the more important planning becomes.
Entrepreneurs must set objectives so they know what direction their business is going and understand HOW they will achieve their objectives. They must be SMART.

1. Specific – Objectives should specify what they want to achieve. – ie one named person is responsible for delivering the objective

2. Measurable – You should be able to measure whether you are meeting the objectives or not.

3. Achievable – can the objectives be met?

4. Realistic – Can you realistically achieve the objectives with the resources you have?

5. Timed – When do you want to achieve the set objectives? i.e within a given period of time ex.– 12 months

Good planning will also help time management skills

6. Persuade —Entrepreneurs spend a lot of time with other people and must be good at persuading others to do what they want. They must have good people skills.

7. Leadership–What makes a good leader?

Having a vision
Leading by example
Self confidence & belief
Excellent communicator
Delegation skills
People management skills
Motivation
Humor
Reliable & trustworthy

8. Being Lucky—Businesses also need some luck to succeed. However, if your luck runs out, entrepreneurs must persevere and stick with things