Interview with Richard was successful and certain key aspects were evaluated which is required to be taken into consideration to become an entrepreneur. I have learnt that I should focus on the activities with the help of which business could be managed in a proper way (Frederick, O’Connor and Kuratko, 2012). With the help of the interview with Richard certain aspects are analyzed by me these aspects are:
For an entrepreneur, patience is the most important thing because it helps in managing the critical situations.
Innovating thinking skills are also required.
Entrepreneur should have the capability to handle all the critical situations and market fluctuations.
Certain set of characteristics should be taken into consideration by an entrepreneur for effective entrepreneurship:
It is important that an entrepreneur should remain motivated and apply optimistic approach in his life. Maintaining enthusiasm helps an entrepreneur to get motivated and work on new and innovative ideas (Klein et al., 2013).
An entrepreneur should have versatility in the work which he is going to start. I have learnt this thing from Richard as he has worked upon his father’s business and decided to explore new things and make the business more effective and attractive.
It is necessary that an entrepreneur should have the capability of taking all kinds of risk. Huge amount of risk is involved in starting something new (Nambisan, 2016). For an entrepreneur, it is necessary that he should have the capability of taking financial risk. Reason behind it is that implementing any innovative idea into reality requires huge investment. Therefore, to make huge amount of investment in an innovative idea it is required that an entrepreneur should have the capability of risk taking.
It is necessary that entrepreneur should have a vision for the work that he is starting or planning for indulging in it.
I have learnt that an entrepreneur should become flexible and should prefer to implement the flexible plans only. This will help in making relevant changes depending upon the market situations (Stokes, Wilson and Mador, 2010).
The purpose of the above information is to ensure that the people who are willing to become an entrepreneur should have an effective set of knowledge regarding these aspects and should ensure to attain success in near future.
If someone has any query, please feel free to ask.
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