Entrepreneurs can be defined as the people who create new companies by transforming their creative ideas into projects on the ground, or this concept can be defined as the innovative initiating people who take responsibility for transforming ideas and translating them into viable businesses and entities. The entrepreneur takes risks and enjoys the most rewards. Innovating a new project and opening a company is called the “concept of entrepreneurship,” which ultimately leads to the production of distinctive goods and services. Entrepreneurs support the economies of countries by using the skills necessary to anticipate market needs and provide ideas that cover them. Customer and employee satisfaction is achieved, and it is worth noting that the entrepreneurs’ projects that prove their success in taking risks and achieving profits and growth on a continuous basis and at the same level of creativity would guarantee their place in the labor market in addition to their ability to achieve prosperity for the economy, while in the event of the failure of these projects This will lead to significant losses and reduce the position of the entrepreneur in the market.
Entrepreneurial personality traits
The personalities of successful entrepreneurs are identical in a number of aspects, as they are all characterized by diligence and the courage to risk the unknown in order to reach distinguished results. The following are some characteristics that represent the personalities of entrepreneurs:
Diversity of abilities
The entrepreneur deals with many people, including the sales team, customers, etc. If the entrepreneur is not able to interact with customers in the correct manner, he will not be able to take his feedback correctly, and he will not be able to know his opinion about the services or goods that have been presented to him. At the same time, the entrepreneur must direct the employees and train them on how to deal with customers and how to work as an integrated team, as the correct handling within the work environment will lead to achieving customer satisfaction.
Flexibility
An entrepreneur is considered successful if he has the ability to change his ideas, plans, and strategies every period, in proportion to the development and change that can occur in the labor market compared to competitors, if any, such as modifying the design of a product due to the end of the life of the old idea for him. What distinguishes an entrepreneur’s business is its unique ability to identify the location of the error or deficiencies and work to solve them or change the course of things to avoid any possible losses due to these errors.
The ability to control the flow of money
The entrepreneur can change the business curve in the event of losses if he has the ability to control his cash flow. The successful entrepreneur can avoid losses in the first year of the new company that do not result in a profit by allocating funds and cash flows to cover expenses in this period in an appropriate manner, in addition to separating costs or personal expenses from business expenses, which play an important role in the success of projects.
Ability to face and learn
The entrepreneur must be able to face the challenges and difficulties that will naturally appear at the beginning of the project. Starting a business from scratch involves many risks and uncertainty; in addition, doing a new job means learning what is new, so the entrepreneur must give himself and his team the opportunity to learn from mistakes if they happen and accept small losses early in the journey.
Concentration
Entrepreneurs suffer from the dispersion of ideas because of the large number of opinions and people who surround them to support them, so unlike flexibility, the entrepreneur must be more focused than other employees to make the right decisions at the right time and in the right place and not move away from achieving the main goal or lose belief in his ability to reach his goal.
Entrepreneur Jobs
Entrepreneurship is very important to support the economies of countries and achieve the dreams and goals of individuals and organizations. Therefore, entrepreneurship is based on performing a wide number of important functions, and the following are the most prominent jobs of an entrepreneur:
- Decision-making: The main task of the entrepreneur is to make decisions and make the right decisions related to production policy.
- Management control: the entrepreneur must possess the ability and managerial skills to be able to ensure that the administrators are doing their work in the right way and choose the right people to work with him.
- Division of Income: One of the primary functions of entrepreneurs is to make appropriate arrangements for the division of total income among the various factors of production that are used in the business.
- Risk: The current market, with the development that humanity is witnessing, is fraught with risks, so one of the main tasks of the entrepreneur is to take risks and bear the consequences thereof, in addition to developing an alternative plan in case the project fails.
- Innovation: Innovating and coming up with new ideas that are constantly distinctive can be considered one of the most important functions of entrepreneurs in order to improve their competitive position and achieve more profits.
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