Characteristics of Entrepreneurs - Name Instructor Course...

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setting up the venture and the expectations that they have from the business are different as a result of which they take different approaches regarding the business.To be an entrepreneur, a person needs to have a number of essential characteristics. Firstly, entrepreneurs have the passion to convert the idea conceived by them into a reality byenabling a business to get off the ground, expand its roots and then branch outwards (Resnick, 2014). Furthermore, this passion mostly emanates from a desire to serve a purpose greater than just controlling the functionality of the business. For example, according to Nathan Resnick, founder of the Yes Man Watches, the reason why he started off this business was to make people realize and value the importance of time in their lives (Resnick, 2014). Hence, it can be seen that rather than setting up a business just for the sake of it, Nathan’s major aim was to make people feel that they could control their lives in a better manner if they gave time the value it deserved. Also, an entrepreneur can be seen to be intrinsically motivated rather than being extrinsically motivated; the fact that there is no financial reward for an entrepreneur at the very start of the business venture confirms this (Page). Their motivation can be seen by the way they respond to the challenges that confront them, and invoke change through their endeavours (Page).A social entrepreneur, for example, is immensely passionate towards their venture and strives for the achievement of a purpose that goes beyond the establishment and success of the business venture (What is a social entrepreneur?). A social entrepreneur is one who has an innovative solution to the social

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