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Business Fundamentals was developed by the Global Text Project, which is working to create open-content electronictextbooks that are freely available on the website http://globaltext.terry.uga.edu. Distribution is also possible viapaper, CD, DVD, and via this collaboration, through Connexions. The goal is to make textbooks available to the manywho cannot afford them. For more information on getting involved with the Global Text Project or Connexions email us atdrexel@uga.edu and dcwill@cnx.org.
Editor : Molly Lavik (Vatel International Business School Los Angeles, USA)
In this chapter we will explore what factors and characteristics are commonly found in an entrepreneurial mindset. These may be characteristics that you can strive to possess and emulate. Perhaps you may need to inherit from your parents a certain combination of entrepreneurial characteristics to become an entrepreneur or perhaps that has absolutely nothing to do with if you are destined to become an entrepreneur. Is an entrepreneur ultimately born or made? That question has no definite answer. We suggest you meet as many entrepreneurs as you can to see if this is how you want to spend your life; then decide if you want to train under these entrepreneurs as an apprentice. You control your own destiny and your life’s journey is your own so you decide!
Review:
In [link] we discussed the characteristics of an entrepreneur as possessing the following attributes:
Vision : Able to create and communicate an easily understandable mission for what the new venture does in order to successfully launch a new business. This is accomplished while inspiring others to join you in your new enterprise.
Creativity : Ability to inject imagination and uniqueness into a new business venture. It takes skill and ingenuity to create a new venture equipped with strategies to outsmart the competition.
Focus : Able to maintain the vision of the company with unwavering diligence. It's very easy to get sidetracked especially if you find it necessary to evolve the original vision. Ironically, we have encountered many successful entrepreneurs who get bored easily...
Passion : Desiring to succeed under your own steam [initiative] on a business venture...
Drive : Possessing intrinsic energy to accomplish the business goal even in the face of adversity.
Perseverance : Able to keep going even when faced with seemingly insurmountable obstacles.
Opportunistic Nature : Sees the possibilities even before they exist. Can take advantage of an upcoming trend or unite unrelated processes to create a unique business venture...
Problem Solving Ability : Thrives on coming up with solutions to complex challenges...
Self-discipline : Able to be organized and regimented in pursuit of a successful business venture.
Frugality : Knows how to stretch every cent so that expenditures are as low as possible.
Empathy : Able to put yourself in another’s shoes and therefore able to show sensitivity and understanding of what others are communicating in the start up environment...
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