Beruflich Dokumente
Kultur Dokumente
January 2006
www.extension.iastate.edu/agdm
What is an Entrepreneur?
M
uch has been written about entrepre- Risk Takers
neurs. Some of it portrays entrepreneurs It is commonly believed that entrepreneurs are risk-
as almost mythical characters who ob- takers. However, the evidence suggests that they
tain their skills from a unique genetic combination. are risk-averse just like you and me. Successful
However, research tells us that entrepreneurship can entrepreneurs attempt to minimize their risk expo-
be learned. The information below provides some sure whenever appropriate. They do this by care-
characteristics and skills you may want to acquire to fully assessing the risk/reward relationship of their
improve your entrepreneurial ability. actions. Risk is assumed only when the opportunity
for reward is sufficiently large enough to warrant the
In the context of a value-added business, an entre- risk.
preneur is someone who identifies a market opportu-
nity for agricultural commodities and products and Sense of Limits
creates a business organization to pursue the oppor- At a very early age, from our parents, friends and
tunity. teachers, we begin developing a sense of limits.
These are limits of what we can and cannot do and
To help you understand entrepreneurs, here are four what we can and cannot accomplish. It is manifest
characteristics of successful entrepreneurs. in many ways such as “we’re not good enough, not
smart enough, or not capable enough.” This sense of
Characteristics of Successful Entrepreneurs * limits is based on emotions rather than logic.
1. Successful entrepreneurs are able to identify
potential business opportunities better than most Entrepreneurs either don’t have this sense of limits
people. They focus on opportunities – not prob- or fight against it. All things are possible. Remov-
lems – and try to learn from failure. ing the sense of limits unleashes the creativity and
2. Successful entrepreneurs are action-oriented. This innovative juices that are needed for successful
comes from a sense of urgency. They have a high entrepreneurship.
need for achievement, which motivates them to
turn their ideas into action. Locus of Control
Entrepreneurs tend to have a strong internal locus
3. Successful entrepreneurs have a detailed knowl-
of control. Locus of control is a concept defining
edge of the key factors needed for success and
whether a person believes he/she is in control of
have the physical stamina needed to put their lives
his/her future or someone else is in control of it.
into their work.
For example, we all know people who believe they
4. Successful entrepreneurs seek outside help to have no control over their lives. They believe that
supplement their skills, knowledge and ability. what happens to them is dictated by outside forces.
Through their enthusiasm they are able to attract People who feel they are victims of outside forces
key investors, partners, creditors and employees. have an external locus of control – “it’s not my fault
this happened to me.” By contrast, entrepreneurs
* Hofer and Sandberg have a very strong internal locus of control. They
believe their future is determined by the choices they
make.
Don Hofstrand
co-director Ag Marketing Resource Center
641-423-0844, dhof@iastate.edu
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