In 1991, Chris Oakley CBE, a former journalist, led what was then the world’s largest media management buyout, the £120 million acquisition of a number of regional newspapers based in and around the West Midlands. His description of an entrepreneur is still widely quoted as one of the best ever written. He said: “An entrepreneur sees an opportunity which others do not fully recognise, to meet an unsatisfied demand or to radically improve the performance of an existing business. They have unquenchable self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way. 

“They are not diverted or discouraged by scepticism from ‘experts’ or from those from whom they seek backing and support, but are willing to weigh all advice and select that which will be helpful. They are prepared not just to work seriously hard, but to back their judgement with personal investment at a level which will cause problems if they are wrong about the opportunity. They understand that achievements are the result of teamwork and know how to choose the necessary blend of talents and inspire them with their vision.”

Put simply, an entrepreneur is a self-made person who is willing to put their money where their mouth is. They are willing to take a calculated risk and back their calculation that it’s weighted in their favour. They are a team player and will use all available resources in order to make something happen.

Contrary to what some people say, entrepreneurship is an acquired characteristic. Entrepreneurs are self-taught and self-made. Anyone who is willing to recognise the characteristics needed to be an entrepreneur, and who is then willing to work at it, can become one. 

Fortunately, since we are all different, there are a range of characteristic entrepreneurial behaviours that you could choose to adopt to see where it takes you.