characteristics of eutrepanor
Seeing and taking advantage of an opportunity
An opportunity is something that a person can see as an avenue to success
It is often identifed when a person feels they can provide goods or services in a better or different way from that already in the market
Identifying a business opportunity is not just about having an idea
as it was the case with Kath Fry and Eisha Saleh’s business Baraka Women.
Successful entrepreneurs are able to identify and take advantage of an opportunity
Establishing a shared vision
Successful entrepreneurs have a clear understanding our hope of what the business will be like in the future
Having a shared vision means that everyone in the business works together, as a team, to develop and then accomplish a goal
Vision refers to the clear, shared sense of direction that allows people to achieve a common goal
The most effective way managers can share their vision for the business is through the organisation’s goals
An important quality for an entrepreneur is the ability to set objectives and have a vision for the business’s
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Demonstrating initiative, innovation and resilience
Running a business can be very stressful and unpredictable. Successful entrepreneurs, therefore, need to be resilient
Innovation is often what excites and motivates a businessperson to establish a business.
Ideas for new products or improvements to existing products will often provide the opportunity for the establishment of a new business
Innovation is certainly important at the beginning stages of a business, but many successful businesses have the ability to innovate and continually bring new benefts to the customer
A successful entrepreneur demonstrates initiative, innovation, and resilience. The initiative refers to the ability to be resourceful and decide, in an independent way
Appreciating the role of failure in success
Entrepreneurs Do not fear failure; instead, they appreciate the role of failure in success and view it as an opportunity to learn. Failure can teach us a lot
Everything leading up to failure is a lesson: the choices you made; the reasons behind your decision, and so on
In fact, every successful entrepreneur has experienced failure
What distinguishes a successful entrepreneur from a mediocre oneis whether they get discouraged and contemplate giving up when failure arises or whether they embracefailure, learn from it and grow
Failure happens to everyone