5 Distinct Leadership Qualities of an Entrepreneur Columbus, GA Friday, March 25, 2011

Are you thinking about starting a business of your own? If you answered yes, you start by weighing the pros and cons, so that you can make a wise decision. Entrepreneurship is about opportunity identification, development, and capture.

Five distinct types of entrepreneurial personalities have been found:

1. Small Business Owners; loners, hard workers, socially isolated, average learners, average income seekers, and risk adverse.

2. Visionary; hard workers, loners, socially isolated, fast learners, fame seekers, and risk takers

3. The C-Level Entrepreneur; hard workers, team players, socially connected, fast learners, wealth seekers, and risk adverse

4. The Marketing Entrepreneur; socially connected, hard workers, team players, fast learners socially, average learners technologically, acceptance seekers, and risk adverse.

5. The Classic Entrepreneur; hard workers, fast learners, self sufficient, socially connected, wealth seekers, and risk manager. All of the entrepreneurial characteristics include industry specific knowledge. These types of expertise can be called basic business competencies.

In today's technological economy, there are certain fundamental activities that all businesses must perform, which are called the key business drivers or functions, and include marketing, sales, operations, accounting, finance, and human resources. All of these skills focus on knowing your business and its context.

Each entrepreneur must identify their internal and external threats by performing an Environmental Scan and Developing a Risk Management Plan.