The capacity and willingness to develop, organize and manage a business venture along with any of its risks

in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation s ability to succeed in an ever changing and increasingly competitive global marketplace.

Motivation to perform
In order to run a successful business, an entrepreneur must be hungry for success ! "ust like athletes and artists. #igns of good motivation include characteristics such as

initiative perseverance responsibility high self-esteem.

Entrepreneurship is a showcase for you. It takes willpower, commitment and desire to succeed. $any entrepreneurs regard financial profit from the business as proof of personal success, not as a goal in itself.

Innovation
%t work, entrepreneurs constantly face situations and challenges to which they must find a solution through a new working method or means of development. In order to succeed, an entrepreneur must be able to react creatively and do things in unconventional ways. &ou can find the innovation re'uired in business activity by, for instance, delegating work or using cooperation networks.

Willingness to take risks

(isks are always involved in entrepreneurship) will you be able to make sufficient income, can you handle time management, personally cope with the challenges and hold onto your status in the view of others* %n entrepreneur must be able to tolerate uncertainty, take the initiative and take risks. Excessive risk-taking increases the probability of failure, but the inclination to take calculated, i.e. reasonable risks is an inherent characteristic of successful entrepreneurs.

Independence
+illingness to be independent and autonomous, and to manage the course of your life through your own actions, are often in the background of entrepreneurship. %n entrepreneur may be in a position where he or she is an independent decision-maker, facing challenges alone and bearing sole responsibility. %ny budding entrepreneur must be prepared to take the initiative and personal responsibility. ,n the other hand, for those who choose to become entrepreneurs, work as such offers a ma"or possibility for self-fulfilment. -or many, team-based entrepreneurship provides a workable model for independent business activity, without overbearing personal responsibility.