The main characteristics and traits of a successful prospective entrepreneur pertain to their risk taking ability. The entrepreneurs seek to realize and identify profitable opportunities in an uncertain market and environment. They use cognitive decision making and innovation in business technology and management processes to form strategies which enable them to operate in a high risk environment.
The entrepreneurs tend to perceive risk, calculate for it extensively and determine the best path of action in managing the business in an uncertain environment.
Aside from the ability to take high levels of risks, the entrepreneurs are also tolerant to ambiguity and are able to make decision with lacking or incomplete information. This is one of the main characteristics of the personality of prospective entrepreneurs which make them different form non-entrepreneurs. Additionally the creativity factor in the personality of the entrepreneur is also a major contributor towards the success and the forming of the entrepreneurial skills in an individual. The entrepreneurs use this creativity to determine innovative methods of management and operating in the market. Aside from this the entrepreneurs also a have a driving need for achievement. They have an internal locus of control which enables them to conduct calculated risk assessment. The self confidence of the entrepreneurs also contributes to their success as they seek out demanding and impossible tasks which they tackle effectively.
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