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Characteristics of an Effective Entrepreneur

A paper presentation during the Training of AEW’s and DF for the Farm Business School held at San Mateo, Rizal on March 2013. Characteristics of an Effective Entrepreneur. Businessman versus Entrepreneur. What is the difference between a business and an entrepreneurship?

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Characteristics of an Effective Entrepreneur

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  1. A paper presentation during the Training of AEW’s and DF for the Farm Business School held at San Mateo, Rizal on March 2013 Characteristics of an Effective Entrepreneur

  2. Businessman versus Entrepreneur What is the difference between a business and an entrepreneurship? How about a business owner from an entrepreneur?

  3. Businessman/Business • Own an enterprise or venture • Usually a profit oriented • Usually play safe • May be purchased, donated or inherited • Generally traditional work for the company • Usually do not have time for the families or love ones

  4. Businessman/Business • Usually distressed and experience sleepless nights • Generally hire people to contribute profit • Commonly commit tax evasion to save taxes and increase profit

  5. Entrepreneur/Entrepreneurship • Own an enterprise or venture • Customer oriented • Bold and amibitious • Creates his own idea and realize it as a business • An innovator • The company works for him • Shares enough time for their family and love ones

  6. Entrepreneur/Entrepreneurship • Always happy and enthusiastic businessman • Hire people to make their lives better • Practice tax avoidance to save taxes and increase profit

  7. As a conclusion: “ A businessman is similar to an entrepreneur becuase an entrepreneur is a businessman” “ An entrepreneur is a businessman which is not rraditional but is an innovative and creative type of businessman” “An entrepreneur differs alot from the usual businessman”

  8. “Entrepreneurship is created out of his own innovative idea and creation which is realized to be palced in business or to be transformed as a good business” “Entrepreneurs are more concerned on the quality of their products and on the satisfaction of their customers rather than concerned to their profits”

  9. Another way of differentiating a businessman and an entrepreneur can be presented as:

  10. Business can be classified according to : • Ownership structure • proprietorship • partnership • corporation • Industries • Trading • servicing • manufacturing

  11. Entrepreneurship can be classified according to : • Forms • social entrepreneurship • ecopreneurship • technopreneurship • infropreneurship

  12. Now let us again differentiate them

  13. Businessman • Start a business from an existing idea or concept • Has many business rivals • Focuses on competition • Is always busy on his business “busy-ness” • Do not have enough time for family or personal life

  14. Businessman • His business gives him a living • Traditional • Stay safe • Worried • Profit oriented • Has an income or profit • Hire people to increase business productivity

  15. Businessman • A market player • Has not yet achieved financial freedom • Only give importance to a part of the business world (atomistic)

  16. Entrepreneur • Start a business from his own unique idea or concept • His business rival is himself • Focuses on cooperation • Is only busy in preparing his new enterprise • Have a lot of time for their family and personal life

  17. Entrepreneur • He gives life to his business • Innovative and revolutionary • Risk taker and accountable • Excited • People oriented (employee, cutomer, public) • Has a passive income or profit • Hire people to give them productivity

  18. Entrepreneur • A market leader • Has achieved financial freedom • Gives importance to the business world as a whole (holistic)

  19. So we can now say that : “Entrepreneurship is not an easy feat as compare to merely doing business” “An entrepreneur is a business person who has evolved into a more complete person – one that is not simply a business person but a real human being”

  20. Generally “Being a businessman is good” “Being profit oriented, market player, business competitor, traditional, busy and active income earner is not bad since all business owners have been on those stages”

  21. Let us now try to rate ourself on the following entrepreneurial competencies

  22. Based on your assessments you can now define your strength and weaknesses. The strongest must help the weakest to make them strong and work as a team.

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