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Q&A - What is an entrepreneur and what characteristics do entrepreneurs need to succeed?
A student asks:
What is an entrepreneur and what characteristics do entrepreneurs need to succeed?
There has been much research into what makes a successful entrepreneur. Amongst the charactertistics commonly identified are:
Passionate about their product or service and about getting things right for the customer
Visionary – they have faith in what they are trying to do
Energetic and driven – prepared to work consistently long hours, especially in the early stages
Self-starting and decisive – they don’t wait for others to take decisions
Calculated risk-taking – not reckless; they are prepared to take a risk in order to maximise the rewards
Multitasker – able to take on more than one role (product development, selling, recruitment)
Resilient – able to handle problems and overcome hurdles
Focused – sets clear goals and self-imposed high standards
Results-orientated – take pleasure from achieving targets and setting the bar higher
The important thing to remember about the list above is that an entrepreneur is unlikely to possess all these characteristics! Anyone who starts a business has strengths and weaknesses. However, the savvy entrepreneur recognises where his/her weaknesses lie and takes steps to address them (e.g. recruit someone with the right skills).
Political Risk: Global location and PEST analysis [22 Mar 2013]
Revision Presentation - Risks and Rewards to Enterprise [30 Dec 2012]
Qualities of an Entrepreneur - Bounce-Back-Ability [29 Oct 2012]
Mitigating Business Risks in Uncertain Time [20 Sep 2012]
Be Your Own Boss - Episode 1: Commentary & Observations [16 Sep 2012]
Technological Change & Innovation - Insights and Quotes [28 Aug 2012]
Get on board the startup train [3 Jul 2012]
Reflections on Bankruptcy [15 Jun 2012]
Contingency planning and the break-up of the Euro [13 Jun 2012]
BUSS4 - a clash of culture and a failed takeover [25 May 2012]
Takeovers and Mergers - the failed takeover behind Clinton Cards’ Collapse [9 May 2012]
Revision Presentation - Managing Risk [7 Apr 2012]
Simple solutions to everyday problems - Spanx [11 Mar 2012]
Tata & Jaguar Land Rover - Culture and Strategy [11 Mar 2012]
Lesson video : Franchising for beginners [4 Mar 2012]
Buying-in to the Facebook culture [5 Feb 2012]
Characteristics of an entrepreneur - Fil Adams-Mercer [13 Dec 2011]
The Rise and Fall and Rise of Gerald Ratner [27 Nov 2011]
International operations decisions - Adidas trainers for $1? [26 Nov 2011]
How we made our millions: Michelle Mone and Richard Reed under the spotlight [10 Nov 2011]
Lets Teach Kids to be Entrepreneurs [3 Nov 2011]
How PepsiCo are trying to control diseconomies of scale [18 Oct 2011]
Applying for a Franchise [6 Oct 2011]
Revision Presentation - Objectives of New Businesses [6 Sep 2011]
Revision Presentation - Enterprise Skills [6 Sep 2011]
Insights from an Entrepreneur - Lara Morgan (Pacific Direct) [5 Sep 2011]
Tesco pulls out of Japan [4 Sep 2011]
Risk-free Curry? Searching for the Right Growth Strategy [29 Aug 2011]
Luke Johnson on sources of finance for a startup [29 Aug 2011]
Debunking the myths of entrepreneurs and startups - a must read [28 Aug 2011]
Entrepreneurs and Calculated Risks [25 Aug 2011]
Evaluation in business essays? Its just like going on a date… [22 Aug 2011]
Tim Harford on why it its good for new businesses to fail [16 Jul 2011]
Samsung seeks a ban on Apple products [1 Jul 2011]
Michael Porter - Shared Value and the Limitations of CSR [15 Feb 2011]
Insights from an Entrepreneur - Kirsty Henshaw (Worthenshaws) [8 Jan 2011]
From crisps to vodka - a profile of a down-to-earth entrepreneur [7 Jan 2011]
Introducing the “austerity” entrepreneurs [4 Jan 2011]
Bangers for Cash - Giveacar and Social Enterprise [4 Jan 2011]
Celebrating the Everyday Entrepreneurs [29 Dec 2010]
BUSS1 Revision Quiz - Sources of Finance for a Startup [13 Dec 2010]
Start-ups - a surge in new businesses post recession [2 Nov 2010]
Hilary Devey - Profile of an Inspirational Entrepreneur [22 Oct 2010]
Bonus system to encourage safety improvements at BP [20 Oct 2010]
How to start a toy shop [12 Oct 2010]
Insights from an Entrepreneur - Laura Tenison (JoJo Maman Bebe) [11 Oct 2010]
Insights from an Entrepreneur - Fraser Doherty (SuperJam) [10 Oct 2010]
Insights from an Entrepreneur - Will King (CEO King of Shaves) [10 Oct 2010]
Culture & Change - The Challenge Facing Nokia [27 Sep 2010]
Business structure in the UK - the rise of micro companies [21 Sep 2010]
Why we should encourage our students to start a business at university [1 Sep 2010]
Lesson Worksheet - Enterprise & Entrepreneurs [9 Aug 2010]
Essential business reading for the summer! [5 Aug 2010]
Entrepreneurs LIVE! 2010 - THE Enterprise Event for Students in 2010 [1 Jul 2010]
New BBC Resource: Start Up Stories [25 Jun 2010]
BUSS4 data - what happened to business investment in the UK recession? [14 Jun 2010]
Is the mega-merger falling out of fashion? [7 Jun 2010]
BUSS4 - Recession Strategy Lessons from Four Female Entrepreneurs [6 Jun 2010]
Rajeeb Dey to Speak at the 2010 Business Teacher National Conference [3 Jun 2010]
British vodka beats the world! [19 May 2010]
Airlines founder plans a shareholder revolt [17 May 2010]
How to make a million before lunch! [12 Apr 2010]
Recession Survival Strategies Cost UK SMEs £16bn [31 Mar 2010]
Entrepreneurial success - Cath Kidston bucks the recession [25 Feb 2010]
OECD stats on entrepreneurship [11 Jan 2010]
Q&A - Is there an optimal level of gearing? [5 Jan 2010]
Revision Quiz - Gearing [5 Jan 2010]
School for Santas [7 Nov 2009]
Survive and prosper - emerging markets in the global recession [5 Nov 2009]
Emerging Markets - 10 Tips on Successful Market Entry Strategy [5 Nov 2009]
Innovation & Protecting a Business Idea - Classroom Video [30 Oct 2009]
Entrepreneur takes advantage of the postal strike [24 Oct 2009]
4 minutes with Stelios - insights into entrepreneurship [24 Oct 2009]
V-Water - from start up to exit [4 Oct 2009]
Meet the Young Entrepreneur of the Year 2009 [30 Sep 2009]
Emma Jones to speak at the Business Teacher National Conference 2010 [30 Sep 2009]
Born in the Storm - 4 Start-ups One Year On [16 Sep 2009]
Is a recession the perfect time to launch a technology start-up? [14 Sep 2009]
Icing on the cake for entrepreneurs [13 Sep 2009]
Patent Theft threatens enterprising inventors [3 Sep 2009]
Third Age Entrepreneurs drive start-up successes [1 Sep 2009]
Video case study: battling for survival in the restaurant trade [31 Aug 2009]
A dramatic fall in business investment [28 Aug 2009]
Banks lend more and charge more at the same time [3 Aug 2009]
Coffee Republic struggles with the daily grind [7 Jul 2009]
Entrepreneurial Brothers in Arms - The Egos Have Landed [6 Jul 2009]
U2 on Tour - Investment appraisal and capacity utilisation rolled into one! [2 Jul 2009]
Q&A - Outline the main costs and benefits of inflation [1 Jul 2009]
Planning for a winning team [24 Jun 2009]
Introducing Teen-Trepreneur [22 Jun 2009]
Can Paid Staff Be Entrepreneurs? [22 Jun 2009]
Porter’s Five Forces hits the fish counter [10 Jun 2009]
Thinking Outside The Smaller Box [8 Jun 2009]
Apprentice Stars Lack Entrepreneurial Spirit [4 Jun 2009]
Mike Southon at the Business Teacher National Conference - Friday 19 June 2009 [4 Jun 2009]
Do The Dragons Get It Right? [1 Jun 2009]
From crisps to vodka - what else can you make from potatoes? [31 May 2009]
Q&A - Describe the main qualitative methods of sales forecasting [31 May 2009]
Q&A - What factors influence the choice of a sales forecasting method? [31 May 2009]
The Dragons got this one badly wrong - the entrepreneur that got away [29 May 2009]
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