The Entrepreneurial Traits: Perceptiveness

Many believe that being a risk-taker is a quality of a successful entrepreneur. This is somewhat of a mistruth, as successful entrepreneurs are anything but risk-takers. Of course, there are many risks when starting a business, however, through planning and foresight can alleviate many of these risks.

According to the picture above, his real name is Robert Edward Turner III but people around the world know him as Red Turner or his two famous nicknames are Mouth of the South and Captain Outrageous. He works as a Philanthropist. Red Turner was born at Cincinnati, Ohio on November 19, 1938. Now, 76 years old. He was studied at Brown University, McCallie School and Georgia Military Academy. There are a few of his careers which are Turner Advertising Company (1960–1962), Branch Manager (1962–1963), Assistant General Manager (1963–1970), President, Chief Executive Officer and Chairman of The Board of Turner, Broadcasting System (1970–1996), President and Chairman of The Board of Atlanta Braves (1976–2003), President of Atlanta Hawks (1977–2003), Chairman of The Board of Time Warner (1996–2001) and Vice Chairman of The Board of AOL Time Warner (2001–2003).

Examples such as media mogul Ted Turner demonstrate that being an entrepreneur involves being alert to and aware of business opportunities that may arise. Ted Turner was perceptive in identifying a business gap as it emerged and decided to act on it. A perceptive entrepreneur knows how to guide a small business by keeping an eye on political and economic developments. Ultimately, knowledge is the best policy to limit risk and thereby increase the chance of success.

In 1960, Ted’s father made him the manager of Turner Advertising’s Macon, Georgia, branch. Ted quickly showed a natural talent for business by more than doubling the office’s revenue in his first year. When Turner’s father bought out a competitor in 1962, the costly buyout and subsequent debt placed the company in a tenuous financial condition. Fearing bankruptcy and struggling to cope with bipolar disorder, Ed shot himself to death in March of 1963. Ted dealt with his grief by throwing himself into his work. He took over the roles of president and chief executive officer at Turner Advertising, renamed Turner Communications in the late 1960s as the company bought several radio stations. By 1970 he had achieved the distinction of owning the biggest advertising company in the southeastern United States. Turner eventually expanded into television, purchasing the rights to old movies and situation comedies. The decision proved highly profitable.