The characteristics of an entrepreneur

1. Hard working: a new business has no other staff to fall back on, so the owner does the buying, the selling and the accounts.
   1. Early mornings and weekend work are normal, because the business earns nothing while the owner is not working.
2. Innovative: they find a new product, or a better way of delivering an existing one, so customers have a reason to switch.
   1. Innovation does not have to mean inventing something, because opening on Sundays when every rival is shut is innovation too.
3. Organised: they keep track of stock, staff rotas, supplier payments and cash at the same time.
   1. A business that runs out of stock or forgets a tax bill loses customers or money it did not need to lose.
4. Willing to take a risk: they accept that their own savings, and often the salary from a previous job, could be lost.
   1. The risk is usually calculated rather than reckless, so a sensible owner researches demand and tests on a small scale first.
5. Determined: setbacks are normal, so they keep going after a supplier lets them down or a bank refuses a loan.
6. Confident: they convince customers to try an unknown business, suppliers to give them trade credit, and lenders to back them.