10 Simple Community Entrepreneurship Traits

Entrepreneurship and Development: Your Social Responsibility

Entrepreneurship and Development are some of the most critical ingredients necessary to secure economic prosperity and socio-economic development for any community or area. The promise of Entrepreneurship and Development offers a way to engage and excite people in your immediate community first, before exciting people from all walks of life and from across the region. Successful entrepreneurial efforts can lessen the challenges that communities face, help to boost your business and win your trust and love

All communities around the world, with all their resourcefulness, ingenuity, and independence, possess the vital qualities necessary to successfully develop an entrepreneurial atmosphere and economic growth in their entrepreneurial development cycle.

The culture and society of forward-thinkers create an environment where potential entrepreneurs can achieve significant success. The economic diversity that results from successful Entrepreneurship and Development endeavours will enhance our economies by providing additional sources of product sales, revenue, and job opportunities. As a result, our economies will become more prosperous, dynamic, and sustainable. Thanks to the role that we play in Entrepreneurship and Development

How Entrepreneurship And Development Benefit All Communities.

Economic diversification has become critical to sustain and improve the quality of life in communities throughout all countries. Entrepreneurship and Development enhance the quality of employment opportunities while strengthening, stabilising, and creating wealth in our economies.

Entrepreneurship and Development is a strategic tool to create new businesses, add jobs, improve incomes, and generate additional revenue in our communities. All of these activities will connect national businesses and communities to the larger, global economy.

The positive results of prosperous entrepreneurship and Development, as well as a larger tax base at the local and national level, will be seen in countless ways, including better educational opportunities, improved access to health care, safer roads, and healthier housing markets.

Advantages Of Entrepreneurship And Development To A Community

Entrepreneurs make a significant impact in their communities. This impact may be evident in the variety of goods and services offered in a community. Entrepreneurial and development ventures often create new jobs and raise local incomes to improve a community’s financial health.

Unfortunately, economic improvement is not enough to sustain communities. Economic growth is a vital element, but it is not sufficient by itself. Communities that survive and prosper invest not only in businesses but also in building social and human capital. Simply having a workforce is not enough for a community to prosper. In order to add true value to a community, highly skilled managers and entrepreneurs need to thrive.

Small Business Entrepreneurship Development

Community Entrepreneurs

Community entrepreneurs often involve a number of people in a community working together to address a critical community need. This type of entrepreneurship and development is particularly effective in rural areas where no one family or person may have the financial resources to help establish a much-needed business or service. Community entrepreneurs may also be involved in non-profit projects, such as building a community school, centre, or public library.

High-growth Entrepreneurs

During every major economic growth period in history, the majority of jobs created resulted from entrepreneurs operating high-growth businesses. Therefore, communities should not only continue efforts to recruit established firms and branch plants, but also make the growth and expansion of high-growth businesses throughout their area a top priority. High-growth entrepreneurs connect local communities to national and international markets more effectively than nearly any other existing industry. In addition, entrepreneurial and development businesses are likely to reinvest their wealth in local communities, while a branch plant may instead send money back to a corporate office or to an administrative headquarters located outside of the area.

Hobby Entrepreneurs

Hobby entrepreneurs often develop businesses related to activities they enjoy as pastimes. Hobby entrepreneurs are important to rural areas because they provide services that may be otherwise unavailable to local communities due to the low population. While larger-scale entrepreneurs may look for pools of skilled labour, hobby entrepreneurs often work alone and may engage in their entrepreneurial and development venture part-time in addition to another occupation.

Lifestyle Entrepreneurs

In addition to more jobs and increased consumer spending, a lifestyle entrepreneur will often bring a unique product or service to a community. Lifestyle entrepreneurs often develop a business simply from something they enjoy doing, which could be anything from producing and selling crafts to painting murals in baby nurseries.

Social Entrepreneurs

Social entrepreneurs operate both within the for-profit and non-profit sectors. They use business skills and resources to provide solutions to community needs.

Women Entrepreneurs

While many younger women may not think twice about starting a business, women who grew up in an earlier time may find the prospect daunting. Women often have special insight into the types of services that are missing in a community and bring unique skills and interests to a business venture.

Many research studies have shown that there are some key personal characteristics that separate successful entrepreneurs from unsuccessful ones in every community. It is interesting that some entrepreneurs are very weak in some areas but stronger in others. You do not need to be strong in all areas to be an entrepreneur!

Characteristics Of Successful Entrepreneurs

There are two theories about how entrepreneurs develop, often called the “supply” and “demand” theories. We all know this from economic lessons in school

In the supply theory, entrepreneurs are born, not made. Certain people seem to have the personality traits that make a good entrepreneur.

Several research studies have shown that entrepreneurs are convinced that they can command their own destinies, or in the jargon of behavioural scientists, the “locus of control” of the entrepreneur lies within him/herself. It is this self-belief that stimulates the entrepreneur, according to supply theorists.

John G. Burch In the September-October 1986 edition of Business Horizons, lists the “in-born” below traits that make an entrepreneur:

Factors Affecting Entrepreneurship: “In-Born” Traits That Make An Entrepreneur.

• A desire to achieve: The drive to conquer problems, and give birth to a successful entrepreneurship and development venture.
• Hard work: It is often suggested that many business owners are workaholics.
• Desire to work for themselves: Entrepreneurs like to work for themselves rather than working for an organisation or any other individual. They may work for someone to gain the knowledge of the product or service that they may want to produce.
• Nurturing quality: Entrepreneurship and development champions are always willing to take charge of and watch over a venture until it can stand alone.
• Acceptance of responsibility: Entrepreneurship and development gurus are morally, legally, and mentally accountable for their ventures.
• Reward orientation: Entrepreneurship and development business owners always have that desire to achieve, work hard, and take responsibility, but also with a desire to be rewarded handsomely for their efforts. Rewards can be in forms other than money, such as recognition, respect, trust and love from the community.
• Optimism: Anyone with an entrepreneurship and development mindset lives by the philosophy that this is the best of times and that anything is possible.
• Orientation to excellence: People with entrepreneurship and development brains often desire to achieve something outstanding that they can be proud of.
• Organisation: This entrepreneurship and development forward thinkers are good at bringing together the components (including people) of a venture.
• Profit orientation: Of course, entrepreneurship and development subject matter experts want to make a profit, but the profit serves primarily as a measure to gauge their success and achievement.

Sometimes, however, entrepreneurs emerge out of the combination of entrepreneurial and development opportunities in the community, especially when they are people who are well-positioned to take care of them through mentorship and coaching. Thus, anyone who encounters the right conditions might become an entrepreneur, if they find themselves in a position where they find a valuable problem that they alone can solve.

There is no single type of person that is successful in business, but experience has shown that there are some characteristics that successful self-employed people often have in common:

Factors Influencing Successful Self-Employed People

• Logical, organised and responsible (good at getting things done)
• Confident
• Able to communicate and get his/her point across
• Sociable, with the ability to take leadership
• Single-minded, but able to take advice
• Flexible and adaptable
• Quick to take opportunities (and ready to take calculated risks)
• Hard-working, committed and determined (‘get up and go’ type)
• Thick-skinned (able to handle failure)
• Individualistic (not afraid to stand out from the crowd)
• Creative and imaginative (always coming up with new ideas for the business)
• Often has a broad range of skills (generalist)
• Clear vision

According to Webster’s dictionary, an entrepreneur is one who organises, manages, and assumes the risks of a business or enterprise. Entrepreneurs live in the future. They have creative personalities, are innovative, and thrive on change.

But What Makes An Entrepreneur Successful?

Research done by Southern Methodist University’s Cox School of Business came up with the common characteristics of over 200 successful entrepreneurs. (Successful was defined as being in business for at least 5 years and with gross revenues of at least $1 million)

• Good health – Successful entrepreneurs, must work long hours for extended periods of time. When they get sick, they recover quickly.
• A Need to Control and Direct – They prefer environments where they have maximum authority and responsibility and do not work well in traditionally structured organisations. This is not about power, though. In entrepreneurship and development, new venture business startups have a need to create and achieve by having control over events.
• Self-confidence – Findings showed that as long as entrepreneurs were in control, they were relentless in pursuit of their goals. If they lost control, they quickly lost interest in the undertaking.
• Sense of Urgency – They have a never-ending sense of urgency to do something. This corresponds with a high energy level. Many people, enjoy individual sports rather than team sports. Inactivity makes them impatient.
• Comprehensive Awareness – They have a comprehensive awareness of a total situation and are aware of all the ramifications involved in a decision related to entrepreneurship and development.
• Realistic Outlook – In entrepreneurship and development, there is a constant need to know the status of things. They may or may not be idealistic, but they are honest and straightforward and expect others to be the same.
• Conceptual Ability – They have superior conceptual abilities. This helps entrepreneurs identify relationships in complex situations. Chaos does not bother anyone with an entrepreneurship and development mindset because they can conceptualise order. Problems are quickly identified and solutions offered. The drawback is that this may not translate well to interpersonal problems.
• Low Need for Status – Their need for status is met through achievement, not through material possessions.
• Objective Approach – Successful entrepreneurs, take an objective approach to personal relationships and are more concerned with the performance and accomplishment of others than with feelings. They keep their distance psychologically and concentrate on the effectiveness of operations.
• Emotional Stability – They have the stability to handle stress from business and from personal areas in their lives. Setbacks are seen as challenges and do not discourage anyone considered as a successful businessman
• Attraction to Challenges – They are attracted to challenges but not to risks. It may look like they are taking high risks, but in actuality, they have assessed the risks thoroughly. That is where the entrepreneurship and development mindset comes into play
• Describing with Numbers – They can describe situations with numbers. They understand their financial position and can tell at any time how much they have in receivables and how much they owe in payables

Two Warnings That Need To Be Attached To The above List:

• Firstly, selecting individuals for enterprise development training based on such a set of characteristics, in no way guarantees business success.
• Secondly, the characteristics required to launch a business successfully are often not those required for growth and even more frequently not those required to manage it once it grows to any size.

The role of the entrepreneur needs to change with the business as it develops and grows, but all too often he or she is not able to make the transition.

Online Entrepreneurship And Development Course

Case Of Entrepreneurship Courses South Africa

For Technology entrepreneurs in South Africa in particular and the world in general, while you are looking for the Tswane University of Technology – tut entrepreneurship requirements for example, or requirements for entrepreneurship programmes 2021 in any university worldwide, it is obviously important to have the technical skills and qualifications relevant to your business activity which may not be taught at these universities.

With this entrepreneurial skill development programme in universities, You must be able to deliver professional standards of work to keep customers satisfied. Even when you apply for start-up finance, lending institutions will be more comfortable if you have strong qualifications. We can not take that away from universities, especially universities that offer an entrepreneur development programme in South Africa in particular since we are using South Africa as an example. Certain businesses, such as those in design-related or artistic fields, require exceptional ability.

Entrepreneurship and Development Skills

Business skills: These are essential to develop if you do not already have them. It is important to understand the principles of business and management, including marketing, strategic planning, accounts, personnel management, etc. Ideally, get some basic training in business administration before you start. If this is not possible (many people do not have the time or money initially), then read as much as you can to fill the gaps in your knowledge.

Selling skills: All businesses require an element of selling. Initially, it is important to persuade people to support you, and crucial to be able to win over potential customers. It is possible to learn basic selling techniques, but being outgoing and articulate are equally important.

Organisational skills: To generate sufficient income, small businesses must be well organised and efficient. It is important to be the sort of person who can organise yourself and others, plan ahead, manage your time and who has the discipline to set and meet deadlines.

Leadership skills: If you are happy for the operation to remain small in the long run, then you can continue to concentrate on the daily “nuts and bolts” without worrying about leading, managing or inspiring others. In fact, many people enjoy self-employment because they have the freedom to work independently. However, if you expect your business to grow, you will inevitably have to employ people, and the ability to lead and manage others will be critical.

Ask yourself: Are you good with people? Do you have management experience? Do you enjoy working in a managerial role? While the production aspects of your business will require specific skills and experience, there are broader demands that are as important.

These include the ability to:
• Negotiate with suppliers
• Mediate between staff
• Be sociable with customers
• Be convincing with prospects
• Think clearly under pressure
• Take criticism without being offended or defensive
• Use your time effectively

Family commitments: Many of those who successfully start their own business have the backing of their family – even if this is only in the form of moral support. You will be under pressure, working long hours. Your family must be prepared for the impact this can have on family life.

Also ensure that your family can accommodate the risks that self-employment can bring, especially in terms of lower income in the initial stages and maybe even the implications of the business failing.

Training That Is Simple, In Real-Time & Evolving

Putting together all your love of becoming an entrepreneur in a practical package, in the form of an online entrepreneurial training course, is a value package that can never be under-estimated. Training doesn’t just simplify processes, it makes the lessons learnt better in every single way.

You are going to unlock access to the most sophisticated training platform in the industry at Wealthy Affiliate University. For newbies and advanced marketers alike, Their focus with all training is teaching you how to create a successful, long-term business within the online space.

It is a 5 Phase, 50 Lesson course that is going to be the fundamental core of your knowledge base. By the time you are finished with the training, you are going to be well equipped to succeed within ANY niche, category or vertical online. This training is updated regularly to keep you ahead of your competition and industry trends

A Website Platform You Can Grow With

Every successful online business starts with a solid foundation, a website. It is not just about websites though. As part of your online entrepreneurship course, Wealthy Affiliate University has some of the most useful and integrated tools for website analysis, management, ranking, and security included within your platform. Features that are not offered anywhere else in the world. The website platform is ridiculously easy to use, yet very advanced. Building beautiful websites has never been this awesome

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The Ultimate Content Writing Platform

Content is one of the most important aspects of any online business. Within Wealthy Affiliate University, you are going to be more than equipped for efficiency, accuracy, content quality and beautiful content design. Their SiteContent offers a writing environment where you can create, manage, organize, and publish your content within ONE amazing platform.

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