Ability to set and implement long-term objectives also determines the qualities of an entrepreneur. However, this does not make entrepreneurs evade short-term project or involvements.
Ability to discover opportunities is the third factor that distinguishes successful entrepreneurs. However, opportunities come with risks that deter entrepreneur’s success. The presence of risks in entrepreneurship indicates or requires that entrepreneurs have to have a high degree of self-correcting. This aspect seems simple but it cannot be overstated since it is difficult to reverse a loss resulting from an assumed risk. However, an inclination to self-correct option is a factor that distinguishes entrepreneurs according to their experience. The element of self-correction combined openness to market forces promotes the self-adaptive and determines the quality of an entrepreneur.
Success cannot be achieved in isolation, therefore entrepreneurs need to have the willingness to share credit with other people. Willingness to share credit with other people enables entrepreneurs to recruit a pool of people who share common interests. Sharing credit with other people provides an opportunity for entrepreneurs to share their risks and success. Entrepreneurs are people who are driven by the desire to make a change in their society and, therefore the need to share credit comes out naturally. Social Entrepreneurship.
ReferenceBornstein, D. (2004). How to Change the World: Social Entrepreneurs and the Power of New Ideas. Oxford: Oxford University Press.
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