Important Characteristics of Young Entrepreneurs

I have many ideas that are bugging me but I’m not an entrepreneur. After COM101 lecture 20(Innovation and Entrepreneurship), I start to think about what an entrepreneur is and what important characteristics of young entrepreneurs are.

The definition of an entrepreneur in lecture 20 states, “An entrepreneur is a person who sets up a business or businesses, taking on financial risks in the hope of profit.” From the definition, I know that the first important characteristic of a young entrepreneur is that he must be courageous. A young entrepreneur must have the courage to take risks.

I read an article about stories of five young Canadian Entrepreneurs. There are two suggestions from them that I want to share. Marc starts his film company at the age of 27. He advises, “It’s important to seek out as much advice as possible, especially in areas of business that are unfamiliar.” Another important characteristic indicated by Marc is that a young entrepreneur doesn’t have to know all the knowledge about business. Instead, a young entrepreneur should find the right person to give useful advice and be open-mined. Monica Mei is the CEO of What I’m Wearing. She says, “Your passion shows through in the way you talk about your product.” Monica reveals one necessary characteristic. A young entrepreneur should be passionate about his or her products. If a young entrepreneur isn’t passionate, it’ll be hard for him to convince other people to buy his products.

In conclusion, having ideas bugging me is the very first stage to a young entrepreneur. However, I have to train myself to be courageous, open-minded and passionate in order to make ideas come true.