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Entrepreneurial Spirit

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What it takes to be an entrepreneur

There is a saying: Some are born great, some acquire greatness and some have greatness thrust upon them.

This saying can be rephrased to make it applicable to the entrepreneurial spirit: Some are born to work; some become entrepreneurs and some have entrepreneurship thrust upon them!

Working or own business- what is better? What it takes to be an entrepreneur? This question can be answered only with respect to the spirit of the individual person who fits into any one of the three categories above. The characteristics and temperaments of persons in these categories are many times different.

(A) PEOPLE WHO ARE BORN TO WORK

These people will normally have the following characteristics:

(1) They are very particular about getting a secure, predictable and a steady income. They would like to have the best control over their income and expenditure, their capacity to borrow and repay.

(2) They would not like to take any huge risk at their own cost; They may be excellent managers who have the capacity to take the right decisions and take the calculated risks within their scope of responsibility in the organization they work for, but they know well that they have the relevant safeguards in place; the safeguards are in the form of higher managerial support and the company's capacity to absorb the consequences if their risk-taking backfires.

(3) They take pride in their designations, their ascent in the corporate ladder, the perks and privileges associated with their status in the organization. Those who have grown to very respectable positions in their organizations know pretty well that some of the perks they enjoy could not be dreamt of by many entrepreneurs who do business with their organization.

(4) In their opinion, the idea that "being a master of their own affairs"- "not being answerable to anybody else" is not truly and absolutely practical. In an organization you have to be answerable to your boss. In case of an entrepreneur, he has to be answerable to his customer, since customer is ultimately the boss. So, their line of argument is: if independence is the motivating factor, there is not much of independence even if you are self-employed.

It is obvious that for people of above nature, working is the best option and they are quite right in their own way. However successful they might be in their managerial spirit, they may not blossom to become entrepreneurs.

(B) PEOPLE WHO BECOME ENTREPRENEURS:

Some of the characteristics of these people are:

(1) They do not mind taking


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