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CHARACTERISTICS OF AN ENTREPRENEUR
Let us now look at some of the distinguishing characteristics of entrepreneurship.
• Ability to take up risks.
• Believe in hard work and discipline.
SUBJECT: Youngest Self-made Billionaire in India
• Adaptable and flexible to achieve the goals of
enhancing quality and customer satisfaction.
Nithin Kamath, a Chartered Accountant (CA)
• Knowledge of the product and services and and founder as well as the CEO of Zerodha. He
their need or demand in the market. built a hassle-free online discount brokerage
• Financial literacy and money management firm.
skill.
• Effective planning, and execution.
QUALITIES OF AN ENTREPRENEUR
A person who does not take risks, is not open to new ideas and running the business only to earn a steady source
of income is not an entrepreneur. An entrepreneur needs to have the following set of qualities to make his business
grow:
• Patience: Entrepreneurship often involves facing challenges and uncertainties. Patience is essential to handle difficult
times and waiting for the efforts to be paid, especially at the time of dealing with setbacks. It allows entrepreneurs
to maintain a long-term perspective and make strategic decisions.
• Positivity: A positive mindset is essential in overcoming obstacles and setbacks. It helps entrepreneurs to stay
focused on solutions rather than problems even when he/she takes big risk.
• Hardworking, Never Giving Up and Perseverance: Hard work is the foundation
for building and sustaining a successful business. Entrepreneurs should never
give up in attaining their goals, even at the time of failures. It is important to
learn from setbacks and keep on moving towards their goals.
• Confidence: Confidence plays a crucial role in making decisions, taking risks, and leading a team. Entrepreneurs
need to believe in their abilities and vision to inspire trust in others, including employees, investors, and customers.
Confidence brings vision and help navigate through uncertainty.
• Open to Trial and Error: Entrepreneurs need to be open to new ideas and try them without fear of failure. Being
open to trial and error allows entrepreneurs to adapt their strategies, refine their approach, and discover what
works best for their business.
• Creativity and Innovation: Creativity is the driving force behind
innovation. Entrepreneurs must have a creative mindset so that they
can identify new opportunities, solve problems, and differentiate their
products or services in the market. This will help their businesses stay
competitive and adapt to changing environments.
Entrepreneurial Skills-I 131

