Understanding Entrepreneurship

Entrepreneurship is recognized as the capability as well as the readiness of a person to develop,

arrange and run a business firm in addition to any of its uncertainties to generate profit.

Entrepreneurship is also considered as significant as it possesses the capability to enhance

standards of living and generate wealth. In that case, there are certain qualities required to start

an entrepreneurship journey by a person [ CITATION Ald17 \l 1033 ]. These qualities are

identified as the strengths factors of an individual utilizing which he/ she can be a successful

entrepreneur in life. These strengths or weakness factors vary from person to person. In this

following section, two of my strength factors are discussed in detail that would help me to

succeed in the future entrepreneurial journey.

Tolerance towards ambiguity- This specific quality has been recognized one of the major

strength factors that would support me to be a successful entrepreneur in life. This quality of

mine is certainly a significant characteristic of my entrepreneur profile. Due to the tolerance

power of mine in any kind of situation, I would be able to handle and manage stress created by

any uncertainties. Tolerance towards ambiguity is the degree to which I am comfortable with

conflicting directions. However, this quality would certainly be helpful in managing uncertain

environments.

Creativity or Imagination- As per the scores, creativity or imagination skill is identified as

another potential strength factor of mine. Creativity is known as one of the significant attributes

of being a successful entrepreneur [ CITATION del17 \l 1033 ]. With the help of creativity,

enabling innovations in business would be easy. Also, the creative skill would help to develop

new and effective solutions to the old problems through which the overall growth of the business

can be initiated.
Like these strength factors mentioned in the above-mentioned section, there are also certain

aptitudes that I need to improve to be a successful entrepreneur in life. These two aptitudes are

mentioned as per following:

Self-confidence or enthusiasm- With the aim of being a successful entrepreneur, increasing self-

confidence is essentially required. This is one of the qualities which I need to focus on and

improve more. Having good self-confidence can give the sense of being successful and able

towards business. I need to improve and increase my self-confidence by finding a mentor and

asking for help from him. I will interact with the mentor and follow the instructions provided by

him properly to increase the level of confidence to be a successful entrepreneur.

Need for achievement or success- The need to achieve is described as the desire to progress,

perform as well as excel. I found a significant lack of this quality in terms of being an

entrepreneur. I need to increase the sense of necessity for achievement or success so that this

quality can enable me to develop objectives or goals and become competitive. In order to

improve this specific quality, I would seek training and take proper formulation so that I can

grow this quality and become successful in starting an entrepreneurial journey effectively.
References
Aldrich, H. (2017). Learning together: National differences in entrepreneurship research. The
Blackwell handbook of entrepreneurship , https://link.springer.com/article/10.1007/s11187-018-
0012-x.

del Campo, C. (2017). The role of creativity in entrepreneurship: An empirical study on business
undergraduates. Education+ Training , https://eprints.ucm.es/id/eprint/57305/1/Camacho-The
%20role%20of%20creativity(Postprint).pdf.