What would you consider to be the core skills needed to start a successful business?

Character traits of an Successful Entrepreneur Drive & determination Need for achievement Need for autonomy Risk-taking propensity / Acceptance of measured risk & uncertainty Creativity, innovation & opportunity Internal Locus of control Small business management and entrepreneurship Stokes, David (David R.); Wilson, Nicholas, Ph.D pp44

Drive & determination Positive Trait Negative Trait being proactive acting decisively & quickly setting goals working hard to achieve goals always on task may get bored easily dislikes time wasting

Need for achievement Positive Trait Negative Trait Energetic Optimistic Working on task Results orientated Self-sufficiency Restless Persistent Dislikes pessimistic team members

Need for autonomy / independence Positive Trait Negative Trait Making up their mind The unconventional path Dislikes taking orders Prefers working alone seen as stubborn by others

Risk-taking propensity / Acceptance of measured risk & uncertainty Positive Trait Negative Trait Making decisions quickly Acting on incomplete data Accessing their capabilities and alignment with opportunities A decision is important and not always what decision Staying with the decision when not right

Creativity, innovation & opportunity Positive Trait Negative Trait questioning intuition imaginative solutions creating ideas change challenges likes constant change always wanting to improve situation head focused on blue sky and not short term success

Internal Locus of control Positive Trait Negative Trait controlling own destiny creating own luck self confident take advantage of opportunity lack of understanding of others ability So self-efficacy is your perception about how effective your behavior is, and locus of control is what you think is determining that behavior (you vs. the environment).

Task As individuals In groups Put these seven personally traits in order of important for you and provide one example when you have demonstrated this trait Now put these seven personally traits in order of your strengths In groups Which of the entrepreneurs demonstrated which personality traits Discuss why each trait is important and why?