Characteristics of a Successful Entrepreneurial Management...

Ronald Wirtz, (2008) makes the statement, â€Å"All the world loves an entrepreneur†. They are role models for kids, they are perceived as being honest, bright, hard-working and successful. People want to be entrepreneurs; policymakers are busy trying to find, encourage and grow entrepreneurs because of their positive effect on jobs and productivity. Greg Watson (2011) writes, â€Å"The entrepreneurial mind thrives in environments of uncertainty, diversity of culture, talent and opportunity. These three areas of characteristics provide broad insights into the mindset of the entrepreneur; perhaps the genetic makeup of the entrepreneur†. So, what are the personal characteristics required to be a successful entrepreneur? Dingee, Haslett, and†¦show more content†¦These persons may all see a different side of you. After thoroughly evaluating your entrepreneurial traits and management skills, you should be able to determine the personal risks you will run if you try to create a business. Dingee et al (1997) suggests research into successful ventures that teams perform better than one individual. Knowing this, venture capitalists also look for a balanced team. Your next step would be to analyze the business you are thinking about create and determine what skills and abilities are critical to its success in its two to three years. Next, set about building a management team, that includes people who are strong where you are weak. Then, evaluate the group by asking, â€Å"Does my team have the necessary complementary skills?† Think of yourself as a venture capitalist who has just analyzed a few hundred business proposals submitted for your examination. Ask yourself, â€Å"Do I have a viable idea?† Your final answer will be reached through a realistic evaluation of the potential for success or failure. In conclusion, Dingee et al (1997) assert that entrepreneurial management teams should take aShow MoreRelatedSkills, Traits, And Characteristics Of A Successful Entrepreneur1210 Words   |  5 Pages Skills, Traits, and Characteristics of a Successful Entrepreneur Anonymous Author University of the People Entrepreneurship 1 3303 â€Æ' Abstract Skills, traits or characteristics are essential ingredients in being a successful entrepreneur. Although these ingredients are numerous, an entrepreneur should develop the ones that are relevant to becoming successful. This paper will first examine skills, traits, and characteristics that are more important to have as an entrepreneur. Then, we researchedRead MoreJamie Dimon and Bank One899 Words   |  4 Pagesthat the entire organization knew that it was toxic on the inside and changes needed to be made. He was setting the seeds for creating a sense of urgency for his change process (Kotter, 2008). 3. 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