Entrepreneurship and Small Business

Analysis of Characteristic Traits and Skills of an Entrepreneur

An entrepreneur is a person involved in identifying problems facing consumers, seeking solutions to such challenges, and establishing an invention that can resolve the issue. All the financial risks incurred by having a company are all assumed by the business owner. An entrepreneur can employ staff to assist in taking care of the company. Moreover, an entrepreneur has sole control over the firm (Patel, 2011).

Differences between an Entrepreneur and a Manager

There are vast differences that exist between an entrepreneur and a manager. A manager is responsible for supervising work of other staff members within an organization. He ensures that each employee is given necessary tasks to undertake, and that work is completed within the set deadline. Moreover, a manager may assume a lot of roles and enjoy higher pay than other employees. However, the fact remains that he/she is still an employee and not the owner of the company. One crucial trait an entrepreneur possesses is passion. The main aim of establishing a company is to make profits. However, an entrepreneur is also entitled to incur losses. Setting up a business is usually very difficult as a lot of money, time, and efforts are required (Patel, 2011).

 

 

 

Motivational Drivers of Successful Entrepreneurs

For a business to be successful, the owner should ensure that he/she is dedicated to working hard. Business people don’t have managers to supervise and push them to complete specific tasks. Entrepreneurs usually communicate the dreams they want to achieve. This inspires employees to assist in the accomplishment of such goals. A good businessperson is always focused on what he/she wants. For instance, Jeff Bezos, the founder of Amazon, started the company with the knowledge that his business woul

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