Entrepreneurs Personality for Being Successful in Business

Entrepreneurs character for Being successful in demarcation Miss. Sarita Ghanshyam Tiwari, (M. Com. M. Phil. ) e-mail emailprotected com Abstract line of reasoning success w strainethorn causes due to numerous federal periodnts, but the greatest epitope of the melody success is the endeavourr himself-importance / herself. Therefore, the heading of what makes a fortunate enterpriser is very important. There have been numerous answers to this irresolution. about state think entrepreneurs are born, differents that they are made. Some externalize entrepreneurs as passionate leaders with a vision that is totally cogitate on nonpareil objective, while separates describe them as compulsive controller.Some says entrepreneurs are risk takers while others say they are risk averse. all(a) of these words whitethorn describe near entrepreneurs but they do non describe all boffo entrepreneurs. There is no doubt that entrepreneurs lambskins, duty knowledge and skills pla y an important role in profession exploitation and success, but the nature of the entrepreneur is even more important. Recent researches in the field of psychology suggest that mortalality has a great deal to do with being a thriving entrepreneur.This paper highlights the constitution traits and essential factors of temperament determinant of a successful entrepreneur and how does an entrepreneurs record tin influence a military control organization. The paper excessively reviews some nonable Indian entrepreneurs and their entrepreneurial trifle for in solvent(p)ification of the topic. Introduction Why certain(a) pile successfully starting and growing a business and others are non? Is it vindicatory luck or being in the right displace at the right time? Some matchless nookie say it is just luck while others faeces say it is timing. But it as well needs other factors too.Recent research in the field of psychology suggests that personality has a great deal to do with being a successful entrepreneur. This may go up m some(prenominal) questions in adepts mind such(prenominal) as what is meant by personality? Can it be developed or is it inborn? Which aspects does it control? Is it really unavoidable for an entrepreneur? Does it have any impact on the business growth? etc. Personality message Many mess mistake the meaning of personality. They take the physical show and various external characteristics of an individual as his or her personality.As they burble about a marvelous personality they may refer to the height, weight, stature and complexion. Well, if you think that it is just the appearance of the physique of a person that determines the personality, wherefore it is time to have a rethink. It is true that physical appearance does matter. However, since intimately of them are beyond our power and control. animal(prenominal) appearance is just 10% of the total personality of an individual and non having a long dour impac t on others. There are many other aspects that tot up greatly to ones personality, which are 90% of the total personality.These aspects involve character, behavior and perspective. Basically, personality development is the improvement of behavior, communication skills, interpersonal relationships, attitude towards bearing and ethics. Character elicit be considered the basic factor in determining an individuals personality. It is the fact that all other factors base a powerful personality impart become useless if the person lacks a good character and behavior. Personality is standardised a grammatical construction. skilful a building tin exist only when it has a fast foundation, a personality can impress others only when it has a redoubted basis.And the strong foundation is supplied by character and behavior. If personality is developed on the solid base of values and ethics, it will last forever. Fake smiles and mannerisms may attract others for a comparatively short per iod. However, they are short-lived and do not help in improving ones personality. In order to pinpoint this exactly take a look to a simple example. A book with decorative cover page may attract a persons attention towards it but by and by looking inner contents of that book a person can predict his opinion regarding it i. e. whether is it a nice book or not?Here a decorative cover page does not fill a long lasting impact on that persons mind. Therefore, personality take ons some(prenominal) factors i. e. physical appearance and terrible foundation of good behavior and character. Physical appearance is that personality which creates maiden impression in front of others thats why it can be taken as the primary or outer personality of an individual, while foundation is considered as secondary or inner personality because it has second impact on others. It is not necessary that one should possess physical appearance because it is some generation depends on the heredity factors o f that person.It is inborn type of personality and sometimes depends on the luck factor too. If a person got good looks then it adds to his plus point. We should remember that a persons height, weight and complexion are not in his hand but he can take care to assert himself neat and clean to impress others. Thus, escapeing on primary personality is necessary but only putting concentration on it is not sufficient. The best personality is based on the solid foundation of character. ethical behavior and co-operation makes a man popular. But this strong foundation is not an inborn quality of a person.It can be developed from ones childhood and has impact of family, family background, friends, working area, society, regions and experience etc. These factors also contribute in developing ones character and behavior. Does it get Certain Personality Traits to be a happy Entrepreneur? Business may fall out due to many factors, but the greatest determinant of the businesss success is th e entrepreneur himself/herself. Every year thousands of throng start a business with the hope of being a successful entrepreneur. But many more business either exposes or discontinues and others channelize ownership or control.Unfortunately only 20% of those businesses will become long enough to celebrate their 5th anniversary and only 20% of those will exit long enough to celebrate their 10th anniversary. To provided you doing the math, only 4% of all unfermentedborn businesses formed will survive at least 10 years. Therefore, for anyone who are starting a new business or already running a business the question of what makes a successful entrepreneur is very important. Because if business fails, it may not only cause for a loss with your personal savings and other assets, but it could crap your ego a tremendous blow.So that, out front making an extraordinary investment of time, energy and money to start a business, an entrepreneur needs to engage himself in some personal soul-searching. He needs to develop some personality traits in himself so that he can successfully handle his business affairs. Without it the business can fail as quickly as it started. An entrepreneur is a business owner, a franchise owner, or CEO of the company. And entrepreneurs duties include managing employees, acquiring resources, seeking venture capitalism, handling finances, planning, time management, human resources, and more.Thus, being an entrepreneur requires special skills. There is no doubt that entrepreneurs diplomas, business knowledge and skills play an important role in business growth and success, but the personality of the entrepreneur is even more important. How potently does the businessman believe in himself and the success of his business? How decisive can the entrepreneur be in changing threats into business opportunities? These are just a few of the situations that businessman mustiness deal with, and not everyone can cope with these situations.So sig ht who start up and run business need to know their own pluses and minuses, strengths and weaknesses, because self-knowledge through self-analysis is very important. However, selfanalysis demands an understanding of ones own personality in relation to ones behavior. There is no ideal entrepreneurial personality- successful entrepreneurs can be analytical, creative, fearless, flexible and focused. However, psychologists and other business people describe that successful business entrepreneur whether male or pistillate have some common traits. Personality traits determines the behavior of an entrepreneur in certain ways i. . how he perceive situations, solve problems, interact with people and carry out the job responsibility. Factors Determining Personality Of A Successful Entrepreneur According to Websters dictionary, an entrepreneur is one who organizes, manages and assumes the risks of a business or enterprise. Entrepreneurs live in the upcoming. They have creative personalities, are innovative, and succeed on change. Starting and growing own business requires many skills to be successful. The traits and characteristics of an entrepreneurs personality can blend with the needs of the business.If one better understand his/her business personality, then he/she can give a company the best part of them. An entrepreneur is determined by the following few outer personality factors, which are only 10% of his/her total personality 1. Physical Appearance Its having a 50/50 born/made ratio and includes sound health, endurance, living ardor etc. 2. hefty Health An entrepreneur has to put in backbreaking work. This requires tremendous physical stamina to work long hours for extended periods of time. 3. Family footing Its an environmental factor and determines environmental heritage. 4. Age and Education Its a functional matter . Work Experience Most entrepreneurs first gain some work experience in the line of business and then start up. In spite of the above outer p ersonality an entrepreneur must have inner personality factors, which are the formidable basis of his/her personality and contributes 90% of his/her total personality. Thus, all successful entrepreneurs will have the following personality traits in common. ? never stop education and growing ? Self confident ? Intelligence ? Respect to Others ? Motivating Others ? communication Skills ? Looking for opportunities everywhere ? Seeking advice from qualified people ? Invests in their future Supports their own business ? Problem solving skills ? Always desire to work hard ? Competitive and have attraction towards Challenges ? Strong management skills ? volition to pay a price ? Sense of Urgency ? Comprehensive knowingness ? Conceptual Ability ? Emotional Stability ? Always developing peoples skills ? A blessing to their community ? Takes responsibility ? Realistic lookout station and Possess Long term sentiment ? Objective Approach ? brand goals and works towards those goals ? gove rning bodyal skills ? Decision making skills ? Optimism (Live by the philosophy that this is the best of times and that anything is possible) ?Orientation to excellence (often desire to achieve something outstanding that they can be proud of. ) ? Profit oriented ? Devotion towards his work ? Humanism ? Never quit tendency This is the most concise collection of the characteristics of an entrepreneur and is real the heartbeat of what characteristics are necessary to truly succeed as a business owner. These traits can be learnt through study, practice and experience. An Entrepreneurs Personality can really influence a Business We are in a more entrepreneurial period than we were in before the Second sufficeman War.With the close of the Second World War, a number of changes with far-flung effect on business world took place. Establishment of World Trade Organisation (WTO) obliged many countries to open up their boundaries and welcome industries, trade and service companies. This adde d complex dimensions to the intensity to competition. While these changes were taking place in organisational environment, customers attitude were also changed. Customers started demanding more value from the product and services that they bought in the commercialise. Naturally customer satisfaction and delight become the goal to be achieved by organizations.This emerges the need for developing entrepreneurial personality in business owners. Therefore today an entrepreneurship is more than the mere creation of business. An entrepreneur has to do more than just fight hard to win their mart share. They must live in the world of action and often need thinking several steps ahead. Entrepreneurs sense of opportunity, their select to innovate, and their capacity for accomplishment have become the standard by which an enterprise is now measured. The presence of entrepreneurs in an economy is a sign of frugal growth.Entrepreneurs with their personality traits will continue to be lively contributors to economic growth through their leadership, management, innovation, research and development effectiveness, job creation, competitiveness, productivity and formation of new industry. Some Notable Indian Entrepreneurs and their Entrepreneurial work Dhirubhai Ambani Born celestial latitude 28, 1932 Died July 6, 2002 Achievements Dhirubhai Ambani built Indias largest mysterious sector company. Dhirubhai Ambani was the most enterprising Indian entrepreneur. His life journey is reminiscent of the rags to riches story.He is remembered as the one who rewrote Indian corporal history and built a truly global corporate group. Dhirubhai Ambani alias Dhirajlal Hirachand Ambani was born on December 28, 1932, at Chorwad, Gujarat, into a Modh family. His bewilder was a school teacher. Dhirubhai Ambani started his entrepreneurial career by selling bhajias to pilgrims in Mount Girnar over the weekends. After doing his matriculation at the age of 16, Dhirubhai move to Aden, Yemen. He worked there as a gas-station attendant, and as a shop assistant in an oil company. He returned to India in 1958 with Rs 50,000 and set up a textile trading company.Assisted by his two sons, Mukesh and Anil, Dhiru Bhai Ambani built Indias argest private sector company, Reliance India Limited, from a scratch. Over time his business has alter into a core specialisation in petrochemicals with additional interests in elecommunications, tuition technology, energy, power, retail, textiles, infrastructure services, capital markets, and logistics. Dhirubhai Ambani is credited with shaping Indias equity culture, attracting millions of retail investors in a market till then prevail by pecuniary institutions. Dhirubhai revolutionised capital markets.From nothing, he generated billions of rupees in wealth for those who put their trust in his companies. His efforts helped create an equity cult in the Indian capital market. With innovative instruments like the convertible debenture, Reli ance quickly became a favorite of the stock market in the 1980s. In 1992, Reliance became the first Indian company to raise money in global markets, its high credit taking in international markets limited only by Indias sovereign rating. Reliance also became the first Indian company to feature in Forbes 500 list.The confederation of Indian Chambers of Commerce and Industry (FICCI) named Dhirubhai Ambani the Indian Entrepreneur of the twentieth Century. A poll conducted by The Times of India in 2000 voted him greatest occasion of wealth in the century. Ekta Kapoor Born June 7, 1975 Achievement Creative theater director of Balaji Telefilms. Ekta Kapoor can be aptly called as the reigning queen of Indian video industry. The serials produced by her company Balaji Telefilms are a great hit with the masses and are dominating all the major T. V. channels in India. Born on June 7, 1975, Ekta Kapoor is daughter of former Bollywood uperstar Jeetendra and sister of current Bollywood hero Tusshar Kapoor. Ekta Kapoor did her schooling from Bombay Scottish School and later on joined Mithibai College. She was not interested in academics and on the advice of her father ventured into TV-serial production at the age of 19. And soon she changed the face of Indian television industry and completely dominated it. Today, Ekta Kapoor is the creative director of Balaji Telefilms. Her company has produced more than 25 serials and each one is being shown, on an average, four times a week on different television channels. Ekta Kapoors serials have captured the imagination of masses.She has broken all antecedent records of TV serial production and popularity in India. Her most famous television venture has been Kyunki Saas Bhi Kabhi Bahu Thi which began in 2000 and has leaded the TRP ratings in India. Her other famous serials include Kahaani Ghar Ghar Ki, Kahiin To Hoga, Kavyanjali, Kyaa Hoga Nimmo Kaa, Kasamh Se, Kahin Kisii Roz, Kasautii Zindagi Kay, Kkusum, Kutumb, Kalash, Kunda li, Bandini, Kitni Mohabat Hai. For her entrepreneurial skills and achievements Ekta Kapoor was awarded with Ernst & Young (E&Y) Startup Entrepreneur of the year award in 2001. Conclusions Today an entrepreneurship is more than the mere creation of business. An entrepreneur has to do more than just fight hard to win their market share. This emerges the need for developing entrepreneurial personality in business owners. An entrepreneurs personality includes two factors 1) Outer Personality Factors i. e. Physical Appearance, Work Experience, Family Background, Age and Education, Good Health etc. 2) Inner Personality Factors i. e. Personality Traits Personality traits can be learnt through study and practice, they are the formidable basis for building inner personality of an entrepreneur.While physical appearances, age, education, work experience are environmental factors, which are just outer part of an entrepreneurs personality. It is not necessary that one should possess physical appearance, family background, age, education and work experience but he should possess the personality traits to tackle business operations successfully, because an entrepreneur is not determined by age, gender, race, religion, intelligence or education but successful entrepreneur do have some common personality traits. Personality traits determines the behavior of an entrepreneur in certain ways i. e. how he perceive situations, solve problems, interact with people and carry out the job responsibility. Entrepreneurs with their personality traits will continue to be critical contributors to economic growth through their leadership, management, innovation, research and development effectiveness, job creation, competitiveness, productivity and formation of new industry. 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