Muzammil Hamas

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Assignment # 2
Entrepreneurship

Ma’am. Ayesha Saeed

Submission date: 17/5/2020
 Different Qualities of an Entrepreneur

1. Risk Takers:
An Entrepreneur’s whole life is based upon taking risks one after another but that
doesn’t mean that an entrepreneur will just blindly jump onto decisions without
analyzing the situation and finding out what risks are worth taking and what are
better to be left just as they are, like Mark Zuckerberg said :

“Taking no risk, is the greatest risk of all”

2. Basic Money Management Skills and Knowledge:

You cannot become an Entrepreneur if you don’t know how you are going to
handle the money and the cashflow. You could be earning 1 million Euros a day
but that is not going to mean anything if you don’t know how you are going to
direct that cash into further future investments. So yes, it is true that as an
entrepreneur you don’t have to get a complete degree in business, but that also
doesn’t mean that you don’t even learn the basic money management skills.

3. Good Communication Skills

If you would ask me I would say if it okay if you don’t become an entrepreneur in
life, but if you don’t develop good communication skills in life, well then you
really aren’t gonna get anywhere in life.
And when you look at it from an entrepreneur’s point of view then if you can’t
communicate or get your point of view to the person sitting across from you in a
business deal, in that case you cannot reach your full potential as a entrepreneur
I personally recommend the book How to win friends and influence people by
Dale Carnegie.

4. Dreamer
Every dreamer is not an entrepreneur but every entrepreneur is a dreamer.
Dreams are special they are unique. A person can die but dream, well dreams can
live onto generations after generations.
Being a dreamer is the greatest asset to being a entrepreneur. Because if you don’t
dream, are you even human?
The only difference between and normal person dreams and wishes and that’s it.
But an entrepreneur not only dreams but he/she also place a time stamp on it,
which turns it into a goal. Just like Steve Jobs said:

“Those who are crazy enough to think they can change the world, are the ones
who actually do”

5. Self motivation:
One of the most important traits of entrepreneurs is self-motivation. When you
want to succeed, you need to be able to push yourself. You aren’t answerable
to anyone else as an entrepreneur, and that sometimes means that it’s hard to get
moving without anyone to make you. You need to be dedicated to your plan and
keep moving forward — even if you aren’t receiving an immediate paycheck.

6. Patience:

I like to think that you can either be patient or you can be quick to act foolishly.
Patience is a virtue that now many posses. In this world and in this life, there is a
rule and that rule is that, nothing can be achieved over night. You cannot top your
class in one day, You cannot become the fastest racer on the world in one night,
You cannot make your spouse understand you right after marriage.
Just like that you have to understand the business that you will be starting is not
going to bloom overnight, you have to be patient it might bloom in the 1st year or it
might start to get attention in the 5th year, nonetheless being patient in your career
and life has always proven fruitful.

7. Having the right network

There is a very common mistake that many people do when they learn about
making social networks and PR, is that they run after quantity. It’s always about
making the most huge social network or making the largest friends circle. But that
is not the right way. It’s not gonna help in anyway if you are not with people who
appreciate your well being.
A beautiful thing said by Jack Ma, is:
“You need the right people with you, not the best people”

8. Flexibility
To a certain degree, you need to be flexible as an entrepreneur. Be willing to
change as needed. Stay on top of your industry and be ready to adopt changes in
processes and product as they are needed. Sometimes, you also need flexibility in
your thinking. This is an essential part of problem-solving. You want to be able
find unique and effective solutions to issues.

9. Passion
Finally, successful entrepreneurs are passionate. They feel deeply about their
product or service or mission. Passion is what will help you find motivation when
you are discouraged and it will drive your forward. Passion is fuel for successful
entrepreneurship. If you find yourself losing your passion, that might be the clue
that it’s time to move on to something else (that stokes your passion). There are
many serial entrepreneurs that create successful businesses, sell them, and then
create something else.
( 25% of this assignment is copied from the internet
And 75% are my own thoughts based on personal experiences)