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

Businessman versus EntrepreneurWhat is the difference between a business and an entrepreneurship?

How about a business owner from an entrepreneur?

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

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

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

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

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”

“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”

Another way of differentiating a

businessman and an entrepreneur can be

presented as:

Business can be classified according to : Ownership structure• proprietorship• partnership • corporationIndustries• Trading • servicing• manufacturing

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

Now let us again

differentiate them

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

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

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

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

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

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

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”

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”

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

Entrepreneurial Characteristics

Strong

Maybe

Weak

1 Like being your own boss

2 Self-confidence3 Sense of urgency4 High energy5 A willingness to

risk money and security

6 Ability to inspire and energize others

Entrepreneurial Characteristics

S M W

7 Strong will8 Ability to learn

from failures9 Mat devote a

disproportionate time to your business

10 Very competitive11 May lack business

skill

Entrepreneurial Characteristics

S M W

12 A “never, never, never quit” attitude

13 Honest and trustworthy

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.