Describe any two basic qualities that define successful entrepreneurs.
What will be an ideal response?
Answers will vary. Two basic qualities that define successful entrepreneurs are tolerance of uncertainty and tolerance of failure.Tolerance of Uncertainty:More often than others, entrepreneurs see the world in shades of gray, rather than simply black and white. They tend to embrace uncertainty in the business environment, turning it to their advantage rather than shying away. Uncertainty also relates to risk, and successful entrepreneurs tend to more willingly accept risk-financial risk, for instance, such as mortgaging their home for the business, and professional risk, such as staking their reputation on the success of an unproven product.Tolerance of Failure:Even when they fail, entrepreneurs seldom label themselves losers. They tend to view failure as a chance to learn, rather than as a sign that they just can't do it (whatever "it" may be for them at any given moment). Failure can actually be an effective springboard for achievement.
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