Characteristics of Young Entrepreneurs (Term Paper Sample)

Characteristics of Young Entrepreneurs
Student’s Name
Institutional Affiliation
Characteristics of Young Entrepreneurs
Entrepreneurs are persons who set up business, taking on fiscal risks with the hope of getting profits (Confederation College, 2014). For young entrepreneurs to become successful, they must possess various characteristics to achieve long-term success in owning businesses. One of these important traits is passion. Young entrepreneurs should do what he/she enjoys because what they get out of the businesses as financial gain, personal satisfaction, enjoyment and stability would be the total sum of what one puts in the business (Confederation College, 2014). So, if an entrepreneur does not enjoy what he/she is doing, it will be mirrored in a success or subsequent failure of the business (Confederation College, 2014). In reality, if one cannot enjoy what he/she is doing, the chances are that they will not succeed. For instance, if you want to start a salon, you must love making other people’s hair.
The second characteristic is strong willingness and courage. A young entrepreneur should be strong-willed and courageous to take business risks (Confederation College, 2014). Successful entrepreneurs begin businesses with a vision and act on those ideas, taking steps toward achieving their goals. Although, each step taken gets an entrepreneur closer to achieving his/her ultimate vision, not all of these steps are exactly easy to make (Confederation College, 2014). Unfortunately, there is nothing worth comes quickly. One must be courageous to risk investing their money and be strong-willed to pass the difficult times of businesses when the expected profits are not met.
The third essential characteristic is energy. As an entrepreneur, one must take what he/she is doing seriously (Confederation College, 2014). One cannot expect to become efficient