20 Chapter 1 Entrepreneurial Careers Copyright Goodheart-Willcox Co., Inc. Traits of Successful Entrepreneurs Some say that entrepreneurs are born. Others say that entrepreneurs are made. Both theories are correct. Some research shows that entrepreneurship runs in families. Most people who start their own businesses, however, are the first in their family to take the risk of becoming an entrepreneur. Do you have what it takes to start a business? There are many traits that entrepreneurs have in common. Numerous studies have been done to identify personality traits of successful entrepreneurs. Traits are behavioral and emotional characteristics that make each person unique. Have you thought about what your unique traits might be? Personality traits include the five Ps of entrepreneurship—passion, perseverance, persistence, planning, and problem solving, as shown in Figure 1-6. There are many more traits commonly associated with successful entrepreneurs. Look at the list in Figure 1-7. How many of these traits could describe you? You do not need to be at work 24 hours a day, 7 days a week to be a business owner. However, you do need to enjoy the work and have the ability to sell your products, ideas, or services. It is important that you evaluate your aptitudes, attitudes, traits, and skills as you consider starting your own business. Social Entrepreneurs Social Entrepreneurs Jim Fruchterman For some entrepreneurs, the American Dream does not involve simply starting a business, the business must have socially responsible goals. These social entrepreneurs dream of improving living or economic conditions with the business they create. Jim Fruchterman is a social entrepreneur. He always felt that there was an equity gap for those with disabilities and that by applying technology, those with disabilities could be helped. Fruchterman founded Arkenstone in 1989 as a nonprofit social enterprise organization that uses technology to help address social needs. Arkenstone created a reading machine for the blind, which has delivered reading tools in a dozen languages to over 50,000 disabled people living in 60 countries. The Arkenstone product line was sold and the nonprofit organization renamed Benetech. One of the products Benetech has developed is Bookshare, an online library of over 80,000 books and periodicals for people with disabilities such as blindness or low vision.