(b) Determined Entrepreneurs are very determined and motivated people. They can be very willing to work hard and make sacrifi ces now for rewards later. Successful entrepreneurs are also very good at managing their time. They prioritise their work, separating the important tasks from the less important, ensuring that the most important jobs are done fi rst. Example: The entrepreneurs who set up Pepsi Cola were so determined to succeed that they went bankrupt three times before the business fi nally became a success.
(c) Decisive Starting any new enterprise involves making lots of decisions. Successful entrepreneurs need to be able to make decisions quickly and often under pressure. They need to be able to stay calm and not get stressed. Example: Ray Coyle is able to make decisions quickly, manage stress well and is also always willing to learn from his mistakes.
(d) Creative Entrepreneurs have a constant urge to fi nd a ‘better way’ of doing things. They like looking for new ideas and new business opportunities or simply ways of doing things better and more effi ciently. Example: Ray Coyle saw an opportunity to make better crisps and also saw an opportunity to set up a family amusement park.
(e) Realistic risk-takers Entrepreneurs are realistic risk-takers. They are not reckless, but are only willing to take risks if they think the probability of success is reasonably high. Risks could include giving up a job, investing money, and putting in many hours of hard work.
Example: When entrepreneurs like Ray Coyle see a need or an opportunity, they are good at developing a plan that breaks down everything that needs to be done into manageable, bite-sized steps so that the plan is realistic and achievable.
