Entrepreneurs need to be innovative and be in a position to constantly develop new ideas for their business ventures. Entrepreneurs should possess the characteristic of being able to identify new ideas within the business industry. This provides them with the skills they need to regularly monitor the market activities and determine what gap exists in the market (Parker, 2011). New innovations, will provide new solutions to some of the problems that are being faced by the local community. However, identifying new ventures requires the skill of taking risks in the business world. When taking a risk, one ventures into a field in the market that has never been exploited by any other entrepreneur. Therefore, the entrepreneur should be willing to learn new information regarding the business venture (Baron & Tang, 2011). When taking such risks, entrepreneurs stand the chance of gaining from their actions or losing their businesses. As part of their behavior, they need to be brave and not possess any fear in them (Al Jazeera 2014).
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