Personal characteristics and skills of the new venture leaders

  1. This section will explain why personal attributes and skills of the founders are so important in running a self-owned business.
  2. The significance of entrepreneurial attributes and capabilities is particularly visible during the start-up stage of the undertaking. This is when difficulties and threats which must be faced by the leader or the entire founding team are exceptionally accumulated. Many promising business initiatives fail in this particular phase.
  3. The founder or founders of the new firm are its main driving force and are responsible for
    implementation of key tasks during the start-up phase, i.e.:
    • Firstly, identifying attractive opportunities and developing a business concept;
    • Secondly, gaining access to key resources necessary to start up the venture;
    • Thirdly, taking organizational actions related with the registration and start-up of the
      new firm.
  4. Currently, as a result of systematic research conducted in many countries, we have a broad knowledge of the qualities and skills of effective entrepreneurs. Why does it pay to gain this knowledge before commencing a business activity? First of all, it can be a valuable point of reference for would-be businessmen to assess their own predispositions. Secondly, on this basis, it is possible to take preparatory actions aimed at obtaining the necessary qualifications and experience. As a result, the decision to start up a business will be well thought through and precisely planned.