·        He must be an enterprising person.
·        He must be energetic and hard working and resourceful.
·        He must be alert to exploit new opportunities.
·        He must be able to adjust with the changing conditions.
·        He must assume risks.
·       He must be interested in advancing technology in respect of quality, product or service.
·        He must be interested in expanding the scale of operations.
·        He must be able to visualize and make changes.
·        He must believe in planning.
·        He must work for the good of the society.

There are certain personal qualities that contribute to the success of an entrepreneur.

Creativity

Mental ability consists of intelligence. There should be analytical approach towards the problem. There should be creative thinking. He must anticipate change and he should be able to study the situations where correct decision can be taken.

Clarity

He must have clear objectives in respect of his business. The nature of his product must be clear in the mind. A successful entrepreneur must have the objective to establish the product and make profit.

Motivation towards achievement

He should be a good administrator. He must know the art of getting work done from his people.

Secrecy

He must be able to guard business secrets. He must select his assistants carefully.

Tactfulness

He must have emotional stability. He must keep good relations with customers employees, suppliers, salesman etc.

Ability

He must have a proper communicating ability. An entrepreneur who can communicate effectively with his customer, supplier and those with whom he is concerned will be more successful in his business.

Technical knowledge

He must have a sound technical knowledge.