Nature, Factors, Profits owned by an entrepreneur

Posted by Imam Larh on Saturday, 24 February 2018

An entrepreneur has a variety of properties, factors, advantages, disadvantages and so on. For more details, you can read this article to finish so you know what is owned by an entrepreneur.

1. Properties to be Owned by Entrepreneurs

There are many characteristics that must be possessed, but not all of them must be possessed. There are about seven characteristics that are the identity of an entrepreneur, namely:

a. Leadership.
b. Innovation.
c. How to make a decision
d. Attitude to change.
e. Working economically and efficiently.
f.  The vision of the future.
g. Attitudes to risk.

Bygrave describes entrepreneurship with the concept of 10 D, namely:
1.  Dream; have a vision of the future and are able to make it happen
2.  Decisiveness; not working slowly, making decisions based on proper calculations.
3.  Doers; make decisions and implement them.
4.  Determination; carry out activities with great care.
5.  Dedication; have high dedication in trying.
6.  Devotion; loves the job you have.
7.  Details; pay attention to critical factors in detail.
8.  Destiny; responsible for the fate and goals to be achieved.
9.  Dollars; motivation is not just money.
10.Distribute; distribute its ownership to a trusted person.

2. Characteristics of Entrepreneurship Superior / Successful
Being a professional entrepreneur must meet the criteria of toughness and toughness. The characteristics of the two criteria are as follows:
A) The characteristics and capabilities of a tough Entrepreneur
  1. Thinking and acting strategically, adaptive to change in trying to find profit opportunities including those that contain a rather large risk and in overcoming the problem.
  2. Always strive to profit through various advantages in satisfying the subscription.
  3. Try to recognize and control the strengths and weaknesses of the company (and its entrepreneurs) and improve the ability with an internal control system.
  4. Always strive to improve the ability and resilience of the company, especially by fostering motivation and morale as well as capital fertilization.
B) Features and Capabilities of Entrepreneurs Excellence
  1. Dare to take risks and be able to calculate and try to avoid it.
  2. Always strives to achieve and produce better service for subscribers, owners, suppliers, workers, communities, nations and countries.
  3. Anticipate changes and accommodate the environment.
  4. Creatively seek and create market opportunities and improve productivity and efficiency.
  5. Always strive to improve the excellence and corporate image through innovation in various fields.
3. Factors That Cause Entrepreneur Failure
According to Zimmerer (in Suryana, 2003: 44-45), there are several factors that cause entrepreneurs to fail in running their new business:
  1. Not competent in managerial. Not being competent or lacking in the skills and knowledge of managing a business is a major contributing factor that makes the company less successful.
  2. Inexperienced both in the ability to coordinate, the skills of managing human resources, as well as the ability to integrate the company's operations.
  3. Lack of financial control. In order for a company to succeed well, the most important factor in finance is maintaining cash flow. Manage spending and acceptance carefully. The mistake in maintaining cash flow will hamper the company's operations and cause the company to run smoothly.
  4. Failed in planning. Planning is the starting point of an activity, once failed in planning it will have difficulty in the implementation.
  5. Inadequate location. The strategic location of a business is the determining factor in business success. Non-strategic locations can cause companies to operate less efficiently.
  6. Lack of equipment supervision. Supervision is closely related to efficiency and effectiveness. Less supervision can lead to the inefficient and ineffective use of tools.
  7. The attitude that is less serious in trying. A half-hearted attitude toward the effort will result in a failed effort and failure. With a half-hearted attitude, the possibility of failing to be great.
  8. Inability to make the transition / entrepreneurial transition. Entrepreneurs who are less prepared to face and make changes, will not become successful entrepreneurs. Success in entrepreneurship can only be obtained if the courage to make changes and able to make the transition every time. 
The success or failure of the entrepreneur is greatly influenced by the personality and personality. And Steinhoff and John F Burgess (in Suryana, 2003: 16) argue that successful entrepreneurship generally has the following personality traits (entrepreunerial personality):
1. confidence,
2. the ability to organize,
3. creativity,
4. Like challenges

4. Advantages and Disadvantages of Entrepreneurship
Advantages of Entrepreneurship:
  1. Autonomy. Free and unbound management creates an entrepreneur into a satisfying "boss".
  2. Early challenge and feeling of achievement motive. Opportunities to develop business concepts that can generate profits are very motivating entrepreneurs.
  3. Financial control (Financial supervision). Free in managing finances, and feel wealth as your own.
Entrepreneur Losses:
  1. Personal sacrifice. In the beginning, the entrepreneur must work with a long time and busy. Very little time for family, recreation. Almost all the time is spent on business activities.
  2. The burden of responsibility. Entrepreneurs must manage all business functions, whether marketing, finance, personnel or procurement and training.
  3. The small profit margin and the possibility of failure. Because entrepreneurs use small profits and self-financing, the profit/profit margins gained will be relatively small and the possibility of failure also exists.
From the above description, finally it can be concluded that the characteristics of a good Entrepreneur, is as follows:
  1. Have the spirit and willingness to overcome difficulties and problems,
  2. Have ability in assessing opportunities in entrepreneurship,
  3. Have the courage to take risks in running his business in order to pursue a profit,
  4. Have the power of creation, imagination in the field of business development that they do,
  5. Have an appropriate, systematic and methodological way of analyzing it in developing its field of business,
  6. Have the ability, willingness, and determination in developing the field of business to achieve progress and goals,
  7. Bringing new techniques in organizing the business appropriately, effectively and efficiently,
  8. Trying not to be consumptive and always reinvest the profits it gained in the activities of its business field.
In other words, the characteristics of an Entrepreneur are:
  1. Have a strong will to try,
  2. Always believe in and do good,
  3. Have a tireless struggle in trying.
  4. Believing in self-belief to move forward,
  5. Responsible for the ability and progress in the field of business,
  6. Super in the association of business,
  7. Clever ways of negotiating to advance the field of business,
  8. Think positively to advance in the field of business,
  9. Take initiative, creativity and discipline to its business activities,
  10. Determined both gain progress in the field of business.
Entrepreneurship is the creative and innovative ability that is used as the basis, tips, and resources to find opportunities for success. The essence of entrepreneurship is the ability to create new and different things through creative thinking and innovative action to create opportunities in the face the challenges of life. In essence, entrepreneurship is the nature, characteristics, and character of someone who has the will to realize innovative ideas into the real world creatively. 

Here are some indicators, characteristics, entrepreneurial traits of an entrepreneur among which have been described, among others:
  1. High Achieving Motives
  2. Always Perspective
  3. Have High Creativity
  4. Have a High Innovation Behavior
  5. Always Commitment to Work, Have Work Ethic and Responsibility
  6. Independent and not Dependent
  7. Brave Facing Risks
  8. Always Finding Opportunities
  9. Have Leadership Soul
  10. Have Managerial Capabilities
  11. Have Interpersonal Skills
The soul of one's entrepreneur is not a hereditary factor but can be studied scientifically and grown to anyone. The important and the main thing is the spirit to keep trying and learn from experience. "Failing is common, trying to keep that extraordinary", maybe that's the picture that must be developed by Indonesian people to exist in an increasingly transparent and open business struggle.

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2 comments:

  1. I enjoyed reading your article :) PLease continue publishing helpful topics like this. Regards, from alwaysopencommerce.com.

    I think this article will fully complement your article.

    ReplyDelete