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Characteristics: Entrepreneurs Are The People Who Combine The Inputs of Natural Resources

Entrepreneurs combine natural resources, labor, and capital to produce goods or services with the intention of making a profit. Successful entrepreneurs possess key characteristics including self-motivation, understanding what they offer and how it fits the market, willingness to take risks, ability to network, basic money management skills, flexibility, and passion for their product or mission. Motivations for becoming an entrepreneur include the potential to make money, desire for flexibility and control, enjoyment of teamwork, and wanting to build a legacy.

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Eduardo Ramos, Jr.
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18 views

Characteristics: Entrepreneurs Are The People Who Combine The Inputs of Natural Resources

Entrepreneurs combine natural resources, labor, and capital to produce goods or services with the intention of making a profit. Successful entrepreneurs possess key characteristics including self-motivation, understanding what they offer and how it fits the market, willingness to take risks, ability to network, basic money management skills, flexibility, and passion for their product or mission. Motivations for becoming an entrepreneur include the potential to make money, desire for flexibility and control, enjoyment of teamwork, and wanting to build a legacy.

Uploaded by

Eduardo Ramos, Jr.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Entrepreneurs are the people who combine the inputs of natural resources,

labor, and capital to produce goods or services with the intention of making a
profit.

Characteristics
1. Self-Motivation
One of the most important traits of entrepreneurs is self-motivation. When you
want to succeed, you need to be able to push yourself.

2. Understand What You Offer


As an entrepreneur, you need to know what you offer, and how it fits into the
market.

3. Take Risks
Successful entrepreneurs know that sometimes it’s important to take risks.
Playing it safe almost never leads to success as a business owner.

4. Know How to Network


Knowing how to network is an important part of entrepreneurship. Sometimes
who you know is an important part of success. Being able to connect with others
and recognize partnership opportunities can take you a long way as a business
owner.

5. Basic Money Management Skills and Knowledge


We often think of successful entrepreneurs as “big picture” people who don’t
worry so much about managing the day to day.
6. Flexibility
To a certain degree, you need to be flexible as an entrepreneur. Be willing to
change as needed.

7. Passion
Finally, successful entrepreneurs are passionate. They feel deeply about their
product or service or mission. Passion is what will help you find motivation
when you are discouraged and it will drive your forward.

Motivation
1. Money.
You can deny it all you want, but the vast majority of entrepreneurs get into the game at least
partially because of the potential to make lots and lots of money.

2. Flexibility.
Some entrepreneurs venture out on their own because they’re tired of the demands of traditional
work.
3. Control.
The desire for control drives many entrepreneurs who aspire to attain a leadership position.

4. Teamwork.
Some people love working with others. They like the atmosphere of team-based creative problem
solving, the interactions between mutually respectful, intelligent people, and the thrill of succeeding
together.

5. Legacy.

Some entrepreneurs aren’t in it for the money or the experience as much as


they’re in it for a lasting legacy.

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