NAME: BENJAMIN EKUADZI

INDEX NUMBER: 10292013

COURSE: ENTREPRENEURSHIP DEVELOPMENT
PROGRAMME: DIPLOMA IN MARKETING
LEVEL: 200

QUESTION
STATE AND EXPLAIN 5 TRAITS AN ENTREPRENEUR SHOULD HAVE
1. FIVE TRAITS AN ENTREPRENEUR SHOULD HAVE

1.1 RISK TAKING

This is a must have trait because the entrepreneur will have to venture into trying to
make ideas come to reality. Ideas that are likely to fail no matter the time and money
invested into them. For other people, the mere thought their ideas may not become
successful can discourage them from even making an attempt. But the risk taking
entrepreneur weighs the probability of the ideas working and devise ways and means
to making them come true. He or she could even use unconventional ways in making
things work. Something the average person desists from.

1.2 CREATIVE THINKING

The entrepreneur must be a creative thinker. He or she must be able to see things in
ways never seen before. Take Steve Jobs for example. In the days where the only
ways people could consume music on the go was by using a CD or cassette player
with limited songs, Steve jobs thought of the idea of having a thousand songs in one’s
pocket. This idea birthed the production of the highly successful iPod. A gadget that
could hold as many songs that one wants. Songs from several artists as compared to
the CD and cassette players which are limited to one album at a time. Steve Jobs did
not end there. In marketing the iPod, it came with white earphones that when worn,
passerbys can identify the user being one of those people using the much talked about
iPod even as the iPod is in their pocket. This among other factors made possible the
adoption of the iPod. Thus increasing sales. It takes creating thinking to pull this off.

1.3 CONFIDENCE
Some entrepreneurs will require investment or funding from external sources to make
their ideas work. It is therefore essential for the entrepreneur to believe in their ideas
very much that they can be able to convince others to offer among other things their
financial help especially. In addition to that, the entrepreneur should believe in his or
product or service idea so he or she can be able to sell it. People would not patronize
anything that is sold with little or no confidence. It is therefore essential the
entrepreneur exhibits this trait.

1.4 DECISION MAKING

Being an entrepreneur requires the ability to make good decisions. To continue the
pursuance of an idea or not. To enter a market or not. To respond to a demand or not.
These are important moments an entrepreneur must be careful what he or she decides
because his or her success depends on it. With good decision making skills, the
entrepreneur will also be able to spot opportunities when he or she sees one. Take Jeff
Bezos for example, in the early days of the internet, he saw the opportunity to sell
books faster and easier by founding the highly successful Amazon.com which
currently has become a global market place for the sale of a variety of products aside
books.

1.5 INTEGRITY
Pursuing some ideas as an entrepreneur requires money one does not have. He or she
would have to raise it elsewhere. And among other traits investors look for is if the
entrepreneur has integrity. Integrity is not only sought after by investors, but by
consumers or customers. They do not patronize businesses run by people with bad
reputations. It is therefore essential the entrepreneur avoids all shady means of doing
business. He or she must also work on his personal brand both offline and online
especially because in this internet age, it does not take long for news to spread. The
entrepreneur can find himself in trouble when something shady surfaces.