Define entrepreneur. Explain the qualities/functions/characteristics of a successful entrepreneur.(CLASS XII) (OCM)

An entrepreneur is “a person who starts a business and is willing to risk loss in order to make money”. Entrepreneurs are the people who have the courage to offer and to share an idea or a product or a service with the world. 

1) Confident: The entrepreneur does not ask questions about whether he can succeed or whether he is worthy of success. He is confident with the knowledge that he will make his businesses succeed. 

 2) Open Minded: He has the ability to look at everything around him and focuses it towards his goals. 

3) Self Starter: An entrepreneur knows that if something needs to be done he should start it himself. He sets the parameters and makes sure that projects follow that path. 

4) Competitive: Many companies are formed because an entrepreneur knows that he can do a job better than others. He needs to win the game of business. 

 5) Communication Skills: An entrepreneur needs to communicate with different people like customers, suppliers, creditors, employees, etc. 

 6) Highly Optimistic: An entrepreneur has to always think positively. He is always hopeful and confident about the market situation even in failure times.