Philippine College of Science and Technology: Skills and Traits of An Entrepreneur Why Do People Become Entrepreneurs?

PHILIPPINE COLLEGE OF SCIENCE AND TECHNOLOGY
Old Nalsian Road, Nalsian, Calasiao, Pangasinan, Philippines 2418

Tel. No. (075)522-8032/Fax No. (075)523-0894/Website: www.philcst.edu.ph
ISO 9001:2015 CERTIFIED, Member: Philippine Association of Colleges and Universities (PACU),
Philippine Association of Maritime Institutions (PAMI)
SKILLS AND TRAITS OF AN ENTREPRENEUR
Why Do People Become Entrepreneurs?

Every entrepreneur has their own ‘why’ that drove them to dive into being their own
boss. Whether entrepreneurs need more freedom or to make the world a better place,
they all take control of their life by living life on their own terms. Here are a few of
the reasons why people become entrepreneurs:
To change the world: Many entrepreneurs strive to make the world better. Whether
entrepreneurs believe in space exploration, eliminating poverty or creating a practical
but game-changing product, they ultimately build a brand in service of others. Some
entrepreneurs use their business as a way to raise capital quickly to funnel into their
noble causes. To social entrepreneurs, building an empire is about creating a better
world for everyone.
They don’t want a boss: Entrepreneurs often struggle with having a boss. They often
feel suffocated, restricted and held back. Some entrepreneurs may feel that they have
a more effective way of doing things. Others may dislike the lack of creative freedom.
Ultimately, they become attracted to entrepreneurship to succeed on their own terms.
Being the boss can be more fulfilling than having one
They want flexible hours: Entrepreneurship is often popular around those who need
flexible hours. Many people with disabilities often enjoy entrepreneurship as it allows
them to work when they’re able to. Parents with young children might also prefer
entrepreneurship as it allows them to raise young children at home or pick them up
from school without having to feel guilty about it. Students may also like the flexibility
of entrepreneurship as their course workload might not allow them to work standard
office hours.
They want to work from anywhere: Along with flexibility in working hours,
entrepreneurship is popular among those who don’t want to be tied down to a specific
location. Entrepreneurs might not want to work from the same place every single day,
as it might get boring for them. So, if you’re looking for the freedom to work from
anywhere in the world, maybe the entrepreneur lifestyle is the right one for you.
They can’t get a job: Many stumbled into entrepreneurship when they can’t get a job.
Getting fired, a lack of experience or a criminal record can prevent the average person
from getting a job when they’re desperate. Instead of being defeated by their situation,
they create new opportunities for themselves. A new graduate might start an online
store the summer after graduation to build up their resume. A parent who is seasonally
laid off each winter might start a business to ensure they can continue feeding their
family while keeping a roof over their heads.
They don’t fit into the corporate environment: Entrepreneurs don’t often thrive in
corporate environments. It’s often very restricting for their growth. They may dislike
the lack of control they have in their role or the office politics. In general, you can spot
an entrepreneur in a corporate environment as they’re usually trying to gain more
control in their role and learning their co-worker responsibilities to better understand
how everything fits together.
They’re curious: Entrepreneurs love finding out the answer to the question, ‘what will
happen if…’ They’re experimental. Entrepreneurs love learning. They regularly
read business books to advance their knowledge. So naturally, entrepreneurship
appeals to them because doing allows them to learn the most in the shortest amount
of time. Their curiosity allows their continued growth.
They’re ambitious: Those who love reaching difficult goals and milestones are made
to be entrepreneurs. There’s no limit to how much an entrepreneur can make and so
they can always work to achieve higher levels of greatness. Since there’s no limit to
what they can achieve, entrepreneurs constantly find themselves growing and
achieving more than they ever imagined. When obstacles get presented in front of
them, they find the workaround to their goal. Entrepreneurs are unstoppable.
Entrepreneur Ideas
A startup entrepreneur can build almost any type of business. Here are a few business
ideas to get you started:
1. Ecommerce store owner
2. Freelancer (write a blog, accountant, designer)
3. Teaching (online courses, author)
4. App creator (chatbots, social media apps)
5. Service based business (food delivery, cleaning, dog walking)
6. Consultant based business (wedding planner, life coach)
7. Apartment rentals (Airbnb)
8. Marketing businesses (PR firms, influencers, SEO brands)
9. Affiliate marketing (Amazon, Clickbank, etc)
10. Blogger (Product reviews, niche blog, magazine)
11. Vlogger (Start a YouTube channel, Twitch)
12. Flipper (domain name, website, house)
13. Translator
14. Gig Economy (driver, Fiverr)
15. Real estate agent (condos, houses, commercial)
16. Photographer (product photography, sell photos)
17. Stock Broker (buying and selling stocks)
18. Tutor
19. Reseller business
What Are Entrepreneur Skills?

There are many skills required to start a business. The most popular entrepreneur
skills are marketing, business development, customer service, leadership, execution,
resilience, focus, determination, talent acquisition, and continuous learner.
Traits of a Successful Entrepreneur

Entrepreneurial spirit — this is something that you might have seen in a lot of job post
ads that you come across. Your track record may not be like Richard Branson, Lori
Greiner, or Mark Zuckerberg, but this does not mean that you cannot become like them
or even adopt the right traits to emulate these successful entrepreneurs.
What does it take to be a successful entrepreneur? Other than some few traits that
many successful entrepreneurs share, being a self-starter can make you very
desirable both in your business and also in the industry. Moreover, having an
abundance of optimism and self-confidence is another key that can help you.
There isn’t any “ideal” entrepreneurial personality for an entrepreneur who is

successful. You should be thrill-seeking and sociable, as well as analytical, intuitive
and taciturn. And as per Belinda Plutz, who is a career coach at New York City–based
Career Mentors Inc, “Regardless of who writes the paycheck, we all need to work as if
we work for ourselves.”
However, there are some experts in the industry that say that new entrepreneurs who
have become successful have some common traits, as shared below:
1. Passion
This is the most significant characteristic that every entrepreneur has, and for obvious
reasons. They are successful because they love what they do. These entrepreneurs
put all the extra hours they have into the business to make it successful and flourish. It
is a pleasure for them to see the results of their labor, which goes well beyond the
money received.
People like this are always researching and reading things to find strategies in how
they can make their business better.
2. Strong work ethic

Entrepreneurs who are successful make sure that they are always the one who is first
to the office and the last one to leave.
These people are those who ensure that they come to the office during their off days,
if needed, just to ensure that the outcomes meet their expectations. The successful
entrepreneurs are those who always have their mind in their work, even if they are not
in their workplace.
3. Strong people skills

A successful entrepreneur is someone who has excellent communication skills for
selling the products to customers and motivating the employees. Yes, most
entrepreneurs who have the power to motivate their employees can see their business
grow within no time. These entrepreneurs are also great at instructing others to be
successful and highlighting the advantages of any situation.
4. Determination
The successful entrepreneurs are never greatly impacted by the defeats they
encounter. For them, failure is like an opening for a success story, and hence, they try
again and again just till they get the success they are expecting. Moreover, these
entrepreneurs are not wired to believe that some things are not possible and cannot be
done.
5. Creativity
One of the main aspects of creativity is the ability to find a relationship between two
unrelated situations or events. They usually come up with the solutions of these
problems that are a combination of other things. These people normally re-purpose the
items for marketing them to new industries.
6. Competitiveness
The number of companies formed are increasing every month and every year, as every
entrepreneur feels that they can do a much better job than others. They run with the
aim that they need to win at the sport they play and win the business that they are
creating or have created. It is an entrepreneur that highlights the track record of
success of their company.
7. Self Starter
Every successful entrepreneur knows that if something has to be done, it needs to be
done by themselves. Parameters are set by them, and they ensure that the projects
are following that path. They do not wait for someone to permit them and are highly
proactive.
8. Open Minded
For those entrepreneurs that are successful or are following others who have been
successful, understand that each situation and event is a business opportunity. There
are new ideas that continually come out regarding new potential businesses, people
skills, efficiency, and workflows. These people have the capability to see all that is
around them and direct the focus towards their objectives and goals.
9. Confidence
A successful entrepreneur never asks the question or keeps doubts in their mind about
if they can succeed or if they are even worthy of success. They are normally confident
enough that their knowledge and their know-how will help them make their business
idea a success. And they radiate this confidence in everything that they do for the
business.
10. Disciplined
Successful entrepreneurs always focus their energy on making the business work, and
for eliminating the distractions or obstacles to their goals. Their overarching strategies
help them to reach the goals they have while they outline the plan to achieve the final
outcome. Moreover, entrepreneurs become successful as they are disciplined to
always make new steps every day towards the accomplishment of their goals.
Other than these traits, every successful entrepreneur just wants to see what is at the
top of the business mountain and they will pick up everything they get on the path while
on their way up. But that is not where their determination ends.
As soon as they see it, they want to move ahead and see more. One of the most
important things about successful entrepreneurs is that they know exactly how to talk
to their employees. These are all the reasons why their business soars.
So, if you are about to embark on the journey to be an entrepreneur, have just entered
the journey or have been in the journey but have not seen success, you need to adopt
these traits and make them a part of you for gaining success.
Conclusion
In this lesson, you learned why do people go into entrepreneurship, ideas of an
entrepreneur, skills of an entrepreneur, and traits of an entrepreneur. If you’re looking
to make your mark on the world, solve a big problem or advance society, consider
entrepreneurship. You could just be the person to change the world. All it takes is
taking your best entrepreneur ideas and acting on them.

Philippine College of Science and Technology: Skills and Traits of An Entrepreneur Why Do People Become Entrepreneurs?

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Philippine College of Science and Technology: Skills and Traits of An Entrepreneur Why Do People Become Entrepreneurs?

Uploaded by

Copyright:

Available Formats

PHILIPPINE COLLEGE OF SCIENCE AND TECHNOLOGY

Old Nalsian Road, Nalsian, Calasiao, Pangasinan, Philippines 2418

SKILLS AND TRAITS OF AN ENTREPRENEUR

Why Do People Become Entrepreneurs?

What Are Entrepreneur Skills?

Traits of a Successful Entrepreneur

There isn’t any “ideal” entrepreneurial personality for an entrepreneur who is

2. Strong work ethic

3. Strong people skills

You might also like