By: Paige Maschmann

Entrepreneurship: the process of starting, organizing, managing, and assuming the responsibility for a business.
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Characteristics of Entrepreneurs

  • Self motivation
  • Determination
  • Self confidence
  • Passion
  • Risk-taking
  • Adaptation
  • Flexibility
  • Planning
The 15 Characteristics of Effective Entrepreneurs

What Does It Take?

Being an entrepreneur takes unique skills and characteristics that will help develop a new idea for a product or service.

Entrepreneurs can come from a wide variety of ages and both males and females.

When being an entrepreneur, it's important to have an understanding of business operations and management.


A majority of the money that is needed to start a new business will come from the entrepreneur and their family and friends. But, another source of money for some new businesses is venture capital. Venture capital is money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.

Reasons Businesses May Fail

  • Low sales
  • Higher than expected expenses
  • Competitive pressure
  • Lack of adequate capital
  • An owner unprepared to manage a growing business
  • Operations requiring more time than the owner is willing to commit