Defining Entrepreneurship

Some experts think of entrepreneurs as people who are willing to take risks that other people are not. Others define them as people who start and build successful businesses.

Thinking about the first of these definitions, entrepreneurship doesn’t necessarily involve starting your own business. Many people who don’t work for themselves are recognized as entrepreneurs within their organizations.

Regardless of how you define an ”entrepreneur,” one thing is certain: becoming a successful entrepreneur isn’t easy.

So, how does one person successfully take advantage of an opportunity, while another, equally knowledgeable person does not? Do entrepreneurs have a different genetic makeup? Or do they operate from a different vantage point, that somehow directs their decisions for them?

Though many researchers have studied the subject, there are no definitive answers. What we do know is that successful entrepreneurs seem to have certain traits in common.

We’ve gathered these traits into four categories:

·         Personal characteristics.

·         Interpersonal skills.

·         Critical and creative thinking skills.

·         Practical skills.

We’ll now examine each category in more detail, and look at some of the questions you will need to ask yourself if you want to become a successful entrepreneur.