In light of this, successful strategic entrepreneurship is a product of advantage and opportunity seeking behaviors that sustains entity’s aptness to create value across a length of time.
It is hard to categorize successful African entrepreneurs, and it is harder still to find a thread of commonality between them. This is because successful African entrepreneurs come from different countries, social and economic backgrounds, and they have invested in different industries. Nonetheless, it is possible to identify some of the common traits and skills that these entrepreneurs possess as well as the tools they have utilized to get to the top of their areas of expertise.
This collective information and some reading on entrepreneurship journals, books and articles have brought to the idea on writing this paper, towards certain perspective, on successful entrepreneurial characteristics....
Passion Most successful entrepreneurs are have a passion for their product or service as well as a desire to solve a problem and make life easier, better, cheaper (10 Qualities of successful entrepreneurs, 2010)....
Someone who is self-employed or a new business owner can be labeled as an entrepreneur. Depending on the creativity and originality behind their concept the type of activities that define their entrepreneurship will vary. Negotiating with investors, visualizing your concept, and even convincing others to see your idea as something realistic are all important aspects necessary to be successful. To many entrepreneurs this is more than just running and growing a business. It becomes their livelihood that includes marketing, franchising, and even helping others recognize their true potential.
Another thing that comes out clearly is that these entrepreneurs had clear visions of what they wanted to achieve. They used their personal experiences to build up niche-businesses targeting specific clients, which in turn resulted in them becoming wildly successful.
Many individuals have tried to examine the skills and traits that have led to the success that these entrepreneurs – and others like them across Africa – have enjoyed, and it is possible to outline some of them. For starters, all these individuals were determined to succeed in their lives. Some of them faced great odds and persecution at times, but they never allowed these trials to discourage them.
Additionally, these individuals are risk takers, and this is a common trait shared by entrepreneurs around the globe. Most successful African entrepreneurs are also persevering, tenacious, and embrace a positive can-do attitude towards life.
Entrepreneurship is known to be a driving force behind economic growth in recent years. Some of the world’s most popular products and everyday items were created by an entrepreneur. They started off as simple ideas that needed a well-organized plan and funding to see it off toward success. There are wealthy business owners that started off with an idea and little or no money. It is a matter of studying your competition and willing to make mistakes in order to make your concept even better. Organization, planning, and use of unique resources in one’s reach can make a difference in getting one idea off the ground.
Other individuals can draw helpful lessons from the histories and behaviors of successful entrepreneurs in Africa. Tools and skills that other entrepreneurs can harness for their own success include:
In today’s society being an entrepreneur can take you to the next level within an industry. It is about taking an initiative to present something new or make an improvement on something already in existence. You need to be a leader willing to take risks in order to see ideas and concepts materialize. Some say you need to have a certain mindset when it comes to being a successful entrepreneur. Others see it as a different form of self-employment that drives you to work harder since you will rely on personal skills, knowledge, and resources utilized. There is a level of uncertainty when defining an entrepreneur. This may be due to different business elements this concept is connected to.
On average, there are over 1400 billionaires in the world, and of those 960 are entrepreneurs who were successful, while the rest were fortunate to inherit their wealth (Vital, 2013)....
Entrepreneurship is unique business venture that is innovative. In most cases, the person or party behind the business venture works to present something new to a prospective market. This includes a significant amount of planning and understanding the needs of your potential market. This is considered a competitive option that requires research, good resources, and detailed innovation if you expect to be successful. In short, it is like going into business for yourself but you take on risks in hopes of reaping the rewards you hope to achieve.