Entrepreneur must have an innovative aptitude
Pick the right opportunity, and initiate action
If he/she does not initiate action at the right time the opportunity may be lost
Initiative is the key to the success of the venture to a great extent
Entrepreneur should have wide knowledge of the economic and non-economic environment of business
In the absence of such adequate knowledge, the decisions taken by him may be poor
Not contribute to the profitability of his business in the long run.
Willingness to assume risk:
Entering any venture is full of risks and uncertainties.
Deal with various kinds of risks and uncertainties efficiently
The entrepreneur should have willingness and necessary foresightedness to assume risks.
The quantity and quality of risk taking would determine the quality of business decisions.
Open mind and optimistic outlook:
Entrepreneur should have an open mind.
He/she must possess a dynamic and optimistic outlook
To predict changes in the business environment and respond effectively without delay.
The entrepreneur must understand the ground realities of the business environment.
He/she should be prepared to adapt to the changes taking place in the system.
Resistance to change and delay in responding
Lead to losing the opportunity of taking advantage
Achieving success in life, one should have confidence in himself/ herself
Person who lacks confidence can neither do any work himself/herself
Nor inspire others to work
Self-confidence is reflected in courage, enthusiasm and the ability to lead
Entrepreneur should possess the qualities of a good leader.
He/she should have the traits of
Presence of mind
Sense of justice
Honour and dignity
High moral character
Orientation towards hard work:
There is no substitute for hard work in life.
While running a business, one problem or the other may occur.
The businessmen have to be vigilant about these and find solutions thereof as early as possible.
This requires hard work on the part of the entrepreneur.
He has to put in extra efforts to ensure success of the enterprise started by him.
According to the types of business
According to the Use of technology
According the Area
According to Gender