ENTREPRENEURSHIP

ENTREPRENEURAL PROFILE
There has been a great deal of attention paid to the subject of
entrepreneurship over the past few years, stemming primarily from the
discovery by economic analysts that small firms contribute considerably
to economic growth and vitality. Moreover, many people have chosen
entrepreneurial careers because doing so seems to offer greater economic
and psychological rewards than does the large company route.

Entrepreneurship
It is a process of creating something new with value by devoting the
necessary time and effort assuming the accompanying financial, psychic
and social risk, uncertainties and receiving the resulting reward of
monetary and personal satisfaction.
The world's most successful entrepreneurs are born with rare talents.
These business builders can turn ideas into customers. They are the
primary source of new economic energy to any economy. Communities
and organizations that identify and develop these entrepreneurial talents
will create new businesses and subsequently quality GDP and job growth.
There is a lot of work done on this topic and many agreed upon
characteristics are included in entrepreneurial profile some of known
studies are included in this assignment.

Entrepreneurial Profile 10 (EP10)

To find future business builders early -- and help them succeed -- Gallup
created Entrepreneurial Profile 10 (EP10). Formerly known as
Entrepreneurial StrengthsFinder, EP10 is Gallup's newest talents-based
assessment.
Gallup studied the best entrepreneurs to understand the actions and
decisions that lead to venture creation and growth. After years of
research, Gallup identified 10 innate talents that define the best and drive
business success. Gallup created the online EP10 assessment using the
same scientific approach as our popular Clifton StrengthsFinder
assessment.
Gallup's research proves that the best business builders use some mix of
these 10 talents to start or grow a business:

Business Focus:
Entrepreneurs make decisions based on observed or anticipated effect on
profit.

Confidence:
Entrepreneurs accurately know themselves and understand others.

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Creative Thinker:
Entrepreneurs exhibit creativity in taking an existing idea or product and
turning it into something better.

Delegator:
Entrepreneurs recognize that you cannot do everything and are willing to
contemplate a shift in style and control.

Determination:
Entrepreneurs persevere through difficult, even seemingly
insurmountable, obstacles.

Independent:
Entrepreneurs are prepared to do whatever needs to be done to build a
successful venture even if they have to do it alone.

Knowledge-Seeker:
Entrepreneurs constantly search for information that is relevant to
growing your business.

Promoter:
Entrepreneurs are the best spokesperson for the business.

Relationship-Builder:
Entrepreneurs have high social awareness and an ability to build
relationships that are beneficial for the firm's survival and growth.

Risk-Taker:
Entrepreneurs instinctively know how to manage high-risk situations.

Some other commonly agreed upon characteristics of

entrepreneurs are as follows:
Sense of Urgency
Entrepreneurs have a never-ending sense of urgency to develop their
ideas. Inactivity makes them impatient, tense, and uneasy. They thrive on
activity and are not likely to be found sitting on a bank fishing unless the
fish are biting.

Comprehensive Awareness
Successful entrepreneurs can comprehend complex situations that may
include planning, making strategic decisions, and working on multiple
business ideas simultaneously. They are farsighted and aware of

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important details, and they will continuously review all possibilities to

achieve their business objectives. At the same time, they devote their
energy to completing the tasks immediately before them.

Realism
Entrepreneurs accept things as they are and deal with them accordingly.
They may or may not be idealistic, but they are seldom unrealistic. They
will change their direction when they see that change will improve their
prospects for achieving their goals. They want to know the status of a
given situation at all times. They will verify any information they receive
before they use it in making a decision.

Status Requirements
Entrepreneurs find satisfaction in symbols of success that are external to
themselves. When they need help, they will not hesitate to admit it
especially in areas that are outside of their expertise. During tough
business periods, entrepreneurs will concentrate their resources and
energies on essential business operations. They want to be where the
action is and will not stay in the office for extended periods of time.
Successful entrepreneurs find their satisfaction of status needs in the
performance of their business, not in the appearance they present to their
peers and to the public. They will postpone acquiring status items like a
luxury car until they are certain that their business is stable.

Emotional Stability
Entrepreneurs have a considerable amount of self-control and can handle
business pressures. They are comfortable in stress situations and are
challenged rather than discouraged by setbacks or failures. Theyll
frequently find some new activity on which to vent their pent-up energy.
Entrepreneurs tend to handle people problems with action plans without
empathy.

Opportunistic nature:
The entrepreneur takes advantage of an upcoming trend or unite
unrelated processes to create a unique business venture. It helps, of
course, to see the possibilities before they even exist.

My entrepreneurial profile
Hello I am Sidra Saleem. I am always fascinated by the beauty whether it
is the beauty of nature, someones behaviour, a majestic architecture, or
some event beautified by the creativity of some florist, designer or
decorator. There is always a part of me which has told me to bring out my
desire to create beautiful things and polish my innate abilities of creativity.

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Being a student of business studies it has been always in my mind that I

will make use of my studies to pursue my wish and desire. Now that I have
been given the opportunity to make my own entrepreneurial profile I can
rummage my abilities which can help me pursue my wish. So the qualities
I think I have to be a good entrepreneur are:

Confidence
My confidence is a prominent part of my personality. I know what I am
doing and I always own what I have done.

Creative Thinker
Entrepreneurship and creativity has a close link because entrepreneurship
is all about making a difference. With the grace of ALLAH Almighty I am
blessed with creative thinking. One of the example is that I am always
involved in decoration team of our collage and I was also able to win
shield for our department for best decoration of our sports house.

Determination
When I have to do something nothing can stop me. Little hurdles are
always a part of any achievement and I am the kind of person who despite
any hurdle keeps walking and pacing even if its not fast progress I
continue to take baby steps which helps me make sure that I reach the
finish line.

Knowledge Seeker
There is a part of me which is always thirsty for knowledge. If there is any
confusion in my mind regarding any concept or question I cannot move
forward until I get knowledge about it. This habit has helped me a lot in
my life and I think this will also be a good characteristic for me to be a
successful entrepreneur.

Promotor
When it comes to talking and convincing other it is not a big deal for me.
After confidence I think this is another very helpful attribute I have. Telling
others whats good about anything and making them come in equation
with me is one of my favourite thing to do. I think I am good at it and this
will help me in being successful because all you want to do to be a

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successful entrepreneur is to make people believe and accept that your

idea is the best way to do a certain thing.

Realism
Crying and regretting what you do not have is absurd. For me we have to
do our best with what we have got. Even in the most tragic situations
there is always a way to do something to calm the situation or bring down
the havoc results.so it is necessary to make peace with what you have got
and doing best with it.

Comprehensive Awareness
No decision even the minor ones should be made without considering the
long term effects of it because sometimes our little decisions could lead to
bigger disasters, so for me before making a decision it is very necessary
to consider all the aspects of its outcomes.

Opportunistic Nature
No entrepreneur can succeed without this quality because for me the idea
of a good entrepreneur is that you need to know how to avail an
opportunity in the best possible manner. So either I get an opportunity to
outcast my peers or I get an opportunity to get help of someone to excel
in what I do I never hesitate and just go for it because it is far better to
get help then to regret that you could have done excellent things by
getting little help.
These are the characteristic that are present in me with in higher degrees
however in addition to it there are some other characteristic as well which
are present but need to be polished and I am surely working on them.

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