To my mind, the answer to this question depends entirely upon the context in which it is asked. Entrepreneurship depends on the subtleties of definition; therefore any judgement of an individual against those subtleties is entirely subject to how the concept is defined, including the biases prevalent in reaching that definition. Here, power, politics and identity all feature as uncertainties. What makes one a great entrepreneur in one context, against one perspective on entrepreneurship, cannot be held valid in another context, under an alternative definition.
Discovering gaps in the market by meeting unmet human needs makes one a great entrepreneur, dear Kwadwo Boakye The great entrepreneur is not a speculator for temporal (short.term) extra-profit by buying and selling, but s/he cares for (long-term) business customer relations.
A very methodical life-style and monetary expertise are paramount to entrepreneurial success.
„A piece of knowledge about boat-building, about whose correctness Crusoe has no doubts at all, will not be seen as a hunch and will be valued according to Menger's Law. It may be said that Crusoe is well aware that he possesses this kind of information; he will deploy and value it in the same way as he may be imagined to deploy and value other resources he believes are definitely at his disposal. But concerning Crusoe's hunches and his visions in the face of a changing, uncertain environment, it cannot be said at all that Crusoe knows he has a hunch or a vision of the future. He does not act by deliberately utilizing his hunch about the future; instead, he finds that his actions reflect his hunches…In other words, it turns out, the essence of entrepreneurial vision, and what sets it apart from knowledge as a resource, is reflected in Crusoe's lack of self-consciousness concerning it…Crusoe may…gradually come to be aware of his vision. When he does, that vision ceases to be entrepreneurial and comes to be a resource. Moreover, Crusoe's realization that he possesses this definite information resource may itself be entrepreneurial. As soon as he 'knows' that he possesses an item of knowledge, that item ceases to correspond to entrepreneurial vision; instead, as with all resources, it is Crusoe's belief that he has the resources at his disposal that may now constitute his entrepreneurial hunch.“ Israel Kirzner, (1979: 168-169); as cited from: Israel Kirzner's Entrepreneurship
https://www.econlib.org/library/Enc/bios/Kirzner.html
Well, one may sound a bit subjective when it comes to determining what make a person a great Entrepreneur. However, I believe that there are certain qualities that may be seen common to such people. A great Entrepreneur is a powerful, energetic, opportunity seeker, business oriented, and an innovative individual who build and sustain businesses for profit. These individuals constantly makes their presence felt in society by consistently meeting society's unsatisfied needs and wants. No matter the downplay of the external environmental forces, a Great Entrepreneur will still survive and stay in business. Great Entrepreneurs are not static at growth nor they're into one line of product or services. For example, in Ghana we have the likes of Dr. Osei Kwame Despite who is into a diversified range of business portfolios, growing and sustaining them for profits now and in the future.
They're very visionary and long-term oriented, often taking the most riskier opportunities. In all, it takes sufficient entrepreneurial mind set to become a great Entrepreneur @ Kwadwo Boakye
What makes one a great Entrepreneur is continuous innovation. Sustained contribution to newness.
An ability to critically think towards solving a problem to create a sustainable change.
- Ability to take affordable risk.
- Creativity
- innovation
- Passion
- Persistence
- Leadership and vision
- Flexibility and adaptability
Passion and focus in-tandem to answering one of life important questions with regards to goods or services.
- what to produce, how to produce and for whom to produce
An entrepreneur is someone who is ready to convert the challenges in his/her environment into benefits by creating a product (goods or services) to remove those challenges and make profit from the product created.
A great entrepreneur,therefore, must be:
*industrious,
*creatively innovative,
*techopreneur
*passionate about his/her idea,
*financially literate,
*skilful communicator,
*charismatic leader
*customer-friendly
*time manager
Conclusion
Having all the above mentioned characteristics will become a value added quality which eventually makes a great entrepreneur.
An entrepreneur is someone who is always eager to create or develop something new using his traits and in this process he achieve satisfaction and make profit out of it.
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