Assignment 1: Instructions

Module 9 discusses personality traits common to entrepreneurs. Do you agree that the stated traits are essential? Do you think there are other traits that are equally important but haven’t been included so far? What personality traits do you possess currently that will make you a viable business owner? What business attributes can you develop through training and experience?

Course Contents

Until the 1950s, people believed that there was only one type of entrepreneurial personality. This view held that entrepreneurs tended to be social loners who worked hard, learned quickly, and were willing to take risks in order to achieve wealth. Certainly, these entrepreneurial traits exist to this day, but business consultants such as Gordon include the following among traits attributed to entrepreneurs today:

• Entrepreneurs are enterprising. Gordon maintains that they have the ability to differentiate between a good idea and a feasible one, and they work hard to bring the feasible ideas to fruition.
• Entrepreneurs are dynamic and industrious. They have high energy levels and are prepared to work long hours. Entrepreneurs are disciplined and self-motivated, with the enthusiasm to motivate others.
• Entrepreneurs are leaders, possessing keen managerial skills. They are organized and assertive while leading by example.
• Entrepreneurs are conceptual. They trust their gut instincts, facing risk while recognizing opportunity.
• Entrepreneurs are vigilant. They improvise and reinvent according to the changing demands of the marketplace.

Assignment 2: Instructions

Suppose you are opening a new design business in a facility outside of your home. You determine your startup costs to be $25,000. Where might you turn for these funds? Where have other entrepreneurs turned? You may fictionalize your answer, but consider several sources; do not simply assume you have the money available. Determine and comment on the possible advantages and disadvantages of your investment sources.