Psychological Traits
Successful business persons have a number of mutual traits with each other despite the fact that everyone has his approaches to handling business (Kuratko, 2016). To begin with, my personal entrepreneurial psychological traits are similar and yet different from those that are shared among business persons. I am a risk taker in general. In that, in most cases regardless of the anticipated challenges and uncertainties, I will readily dive into a venture. However, similar to successful entrepreneurs, it is not all about the will to risk resources but also the risk has been taken within a strategic plan. In that, the first thing is to evaluate the rewards, challenges, and risks that underlie a given venture and if the rewards are high then with a strategic approach success is easy to achieve. Also, passion and morale are the most important traits in operating any business successfully. Entrepreneurship is not an operation that is solely motivated by monetary gains but rather it is fueled by having a dream (Mukherjee, 2016). In most cases, the used resources and time normally exceeds monetary gains but more rewarding psychologically. Throughout the challenges of operations, an entrepreneur usually gets an internal reward by acknowledging that they are focused on acquiring greater benefits.
On the other hand, besides being a risk taker for most entrepreneur’s resilience is key to successful operation (Mukherjee, 2016). In that, success can best be attributed the capability to raise from a single disappointment to another without the loss of passion. Evidently, as an entrepreneur, one is bound to experience failure but the most unfortunate thing is the fact that with every fails one should be willing to drastically brush off the fail regardless of how hard it might appear. Rather than accepting to fail successful entrepreneurs are those that acquire some sort of learning from all the fails without focusing on the negative part of the venture. In addition, they hold a powerful understanding of self which is similar to mine. This means that although there are challenges to be encountered such as funding with confidence and being self-motivated then success is absolute. It is not about thinking that a certain approach will be beneficial but it is believing that it will be rewarding (Kuratko, 2016). More so, successfully entrepreneurs are those with a vision and flexible as well. One must have the highest capability of adapting to transitions and obstacles while having a vision enables them to point the existence of business opportunities in all directions as innovators seeking to enhance and create diverse ideas (Kuratko, 2016).
As a risk taker, self-motivated, passionate and confident person I am able to successfully navigate the challenging decision-making process in entrepreneurship. In that, I tend to focus on ensuring that the set vision is achieved without focusing on the risks and benefits. This is because success is not measured by the acquired gains rather by the efforts made and the achievements in general (Storr & John, 2015). The motivation and confidence act in fueling my abilities even in instances when the challenges make it hard to even believe that success is a possibility. Enhancing my psychological traits would be beneficial in instilling discipline, open-mindedness, creativity, and determination. In that successful business ventures are those that are fueled by the discipline which is the ability to adhere to a set of principles beyond personal gains. Through experience, the traits can be developed by making them more practical and beneficial in general in developing business and capturing newer opportunities (Center, 2012).
References
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Center, Y. A. (2012). Get ahead for business: Owning a business tool kit. Place of publication not identified: Lulu Com.
Kuratko, D. F. (2016). Entrepreneurship: Theory, process, and practice. Cengage Learning.
Mukherjee, K. (2016). The psychology of the successful entrepreneur. International Journal of Advanced Engineering and Management, 1(1), 25-32.
Storr, V. H., & John, A. (2015). The determinants of entrepreneurial alertness and the characteristics of successful entrepreneurs. Culture and Economic Action, 68.
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