Republic of the Philippines

EASTERN VISAYAS STATE UNIVERSITY

Dulag Campus

Dulag, Leyte

Devaras, Ma. Agos Jaymarie

Samiana, Cyville Joy S

Villero, Berlyn Kate

Advincula, Daphne Mae M.

Module 2: Attributes, Qualities, and Characteristics of an Entrepreneur

Lesson 1: The Link Between Family and Entrepreneurship

• Support System - Family support can provide emotional, financial, and practical support to
entrepreneurs, enabling them to pursue their ventures with greater confidence and resilience.
• Values and Work - Entrepreneurial families often instill values such as resilience,
perseverance, and a strong work ethic from a young age, shaping the entrepreneur's
characteristics and approach to business.
• Risk-Taking -The family environment, especially if it includes other entrepreneurs or risk-
takers, can influence an individual's willingness to take risks and embrace uncertainty, crucial
traits for entrepreneurship.
• Role Models -Family members who are entrepreneurs can serve as role models, inspiring and
guiding individuals to pursue their entrepreneurial aspirations and develop specific attributes
like leadership, innovation, and problem-solving skills.
• Networking - Entrepreneurial families may provide access to valuable networks,
connections, and resources within specific industries or business circles, contributing to the
development of networking skills and the ability to leverage social capital.
• Interpersonal Skills - Growing up in a family environment involves constant interaction and
negotiation, fostering interpersonal skills like communication, conflict resolution, and
collaboration, which are vital for entrepreneurship.
• Adaptability - Entrepreneurial families often experience ups and downs in business ventures,
exposing individuals to the importance of adaptability, flexibility, and resilience in the face of
challenges or changing market dynamics.

ATTRIBUTES AND CHARACTERISTICS OF ENTREPRENEURS

 Risk-taking propensity: Entrepreneurs are often willing to take calculated risks. They
understand that success often involves venturing into the unknown and making decisions
despite uncertainty.
 Vision and Innovation: Entrepreneurs have a clear vision of what they want to achieve. They
are often creative thinkers, constantly looking for new and innovative solutions to problems.
 Passion and Motivation: Successful entrepreneurs are passionate about their work. This
passion serves as a driving force, keeping them motivated through challenges and setbacks.
 4. Proactiveness: Entrepreneurs are proactive and take initiative. They don't wait for
opportunities to come to them; instead, they actively seek and create opportunities.
 5. Adaptability: The business environment is dynamic, and entrepreneurs must be adaptable.
They can quickly adjust their strategies and operations in response to changing circumstances.
 6. Resilience: Entrepreneurship is filled with ups and downs. Resilient individuals bounce
back from failures, learn from mistakes, and use setbacks as opportunities for growth.
 7. Decision-making skills: Entrepreneurs must make numerous decisions daily. Effective
entrepreneurs are decisive and capable of making tough choices under pressure.
 8. Leadership skills: Entrepreneurs need strong leadership qualities to guide their teams, set
a clear direction, and inspire others to work towards common goals.
 9. Networking abilities: Building a successful business often involves creating and
leveraging a network of contacts. Entrepreneurs excel in networking, building relationships,
and forming partnerships.
 10. Financial acumen: Understanding financial aspects such as budgeting, financial
planning, and resource allocation is crucial for entrepreneurs to manage their businesses
effectively.
 11. Customer focus: Successful entrepreneurs are customer-centric. They understand the
needs of their target market and strive to provide value through their products or services.
 12. Time management: Entrepreneurs often wear multiple hats and juggle various
responsibilities. Effective time management is essential to prioritize tasks and maximize
productivity.
 13. Persistence: Entrepreneurial journeys are rarely smooth, and persistence is key.
 14. Self-confidence: Entrepreneurs believe in their abilities and ideas, which fosters self-
confidence. This confidence enables them to face challenges with a positive mindset.
 15. Resourcefulness: Entrepreneurs are resourceful in utilizing what they have to achieve
their goals.