EMBE 3.01 Successful Entrepreneur Notes
An entrepreneur is an individual who undertakes the risk associated with creating,
organizing, and owning a business.
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Personal Characteristics of Successful Entrepreneurs
A. Persistent. Entrepreneurs work until a job is done. They are determined to
overcome problems and to pursue their goals in order to make their business
successful.
B. Creative. Entrepreneurs are constantly looking for new ways to solve problems.
C. Responsible. An entrepreneur is accountable for his/her actions and does what is
required.
D. Inquisitive. Entrepreneurs are curious about things that may affect their business.
They are not afraid to ask questions or to conduct research in order to solve
problems.
E. Goal-oriented. Entrepreneurs develop a plan of action and must make decisions to
help achieve that plan.
F. Independent. Entrepreneurs want to make their own decisions. They set their own
schedules and are able to work without supervision.
G. Self-confident. Entrepreneurs believe in themselves.
H. Risk-takers. Entrepreneurs look for challenging opportunities. They are not afraid
to take risks.
Skills Needed by Successful Entrepreneurs
A. Communication skills. Entrepreneurs need effective communication skills in
order to gather the information necessary to organize and run their business.
Entrepreneurs must develop writing, speaking, and listening skills.
B. Human relations skills. It is essential that entrepreneurs be able to get along with
others and enjoy meeting and talking to people.
C. Math skills. Basic arithmetic and knowledge of basic record keeping are needed
for the entrepreneur to make purchase decisions, calculate profit, and complete
financial statements.
D. Problem-solving and decision-making skills. Entrepreneurs must make
decisions and solve problems every day.
E. Technical skills. Computer skills are essential in almost every business.
F. Basic business skills. Entrepreneurs must have a basic understanding of how
the economy works and of the fundamental concepts of finance, marketing, and
management in order to help ensure the success of their business.
3.01 Characteristics of Successful Entrepreneurs
PowerPoint Notes
What is an entrepreneur?
Personal characteristics of successful entrepreneurs
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Skills needed by successful entrepreneurs
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6208 – Exploring Business, Marketing and Entrepreneurship
Page 131
2008
3.01 Personal Characteristics and Skills
Identify each personal characteristic of a successful entrepreneur in the column on
the right.
Personal Characteristics of Successful Entrepreneurs
Personal Characteristic
Description
Entrepreneurs work until a job is done. They are
determined to overcome problems and to pursue their
goals in order to make their business successful.
Entrepreneurs are constantly looking for new ways to
solve problems.
An entrepreneur is accountable for his/her actions and
does what is required.
Entrepreneurs are curious about things that may affect
their business. They are not afraid to ask questions or to
conduct research in order to solve problems.
Entrepreneurs develop a plan of action and must make
decisions to help achieve that plan.
Entrepreneurs want to make their own decisions. They set
their own schedules and are able to work without
supervision.
Entrepreneurs believe in themselves.
Entrepreneurs look for challenging opportunities. They are
not afraid to take risks.
Skills Needed by Successful Entrepreneurs
Skill
Description
Entrepreneurs need to gather information necessary to
organize and run their business. Entrepreneurs must
develop writing, speaking and listening skills.
Entrepreneurs must get along with others and enjoy
meeting and talking to people.
Basic arithmetic and knowledge of basic record keeping
are needed for the entrepreneur to make purchase
decisions, calculate profit and complete financial
statements.
Entrepreneurs must make decisions and solve problems
every day.
Computer skills are essential in almost every business.
Entrepreneurs must have a basic understanding of how
the economy works and of the fundamental concepts of
finance, marketing, and management in order to help
ensure the success of their business.