Stockes And Wilson Analysis

Stockes and Wilson (2010) on the other hand note that the start-up process, which contains multiple phases, divulges specific character traits found in entrepreneurs. Some of these traits include risk-taking, analysis, quick decision-making, exploitative, and opportunity-seeking, all of which should be done effective for the enterprise to thrive. The authors further note that successful entrepreneurship is a dynamic process and entrepreneurs have dynamic situations or traits that set them apart from others. For instance, entrepreneurs are innovative, that is, they have the capacity to create jobs or machines from nothing. This takes a great sense of confidence, patience, persistence and resilience in the face of challenges. Stockes and Wilson …show more content…
A comparison of my personal traits and those attributed to entrepreneurs reveals that I lack the basic entrepreneurial traits that set entrepreneurs apart such as imagination, excitement-seeking, empathy and impulsiveness. Even though I have some of the characteristics possessed by successful entrepreneurs such as self-discipline, the need for achievement, cooperation, and high activity level, these traits seem to be commonplace and can be attributed to majority of the people in society. Based on the study, I conclude that successful entrepreneurs become successful because they possess unique personal characteristics that set them apart from other people. Traits such as risk-taking, innovativeness, exploitation of opportunities, and persistence are not common in many people otherwise everyone would be a successful entrepreneur. The other conclusion I make based on the literature review is that an individual needs to possess most of the personality traits in order to be successful. For instance, it is one thing to start a business and another to oversee it grow to become a large enterprise. Therefore, successful entrepreneurs have unique personal qualities from other people in