1.5.5 E To L

Question 1

What’s an entrepreneur

Answer 1

An entrepreneur is a person who spots an opportunity and shows initiative and a willingness to take risks in order to benefit from the potential rewards

Question 2

What is a leader

Answer 2

A leader is a person that can inspire others and motivate them to meet objectives

Question 3

•Many entrepreneurs find it difficult to move from being an entrepreneur to a leader, reasons include:

Answer 3

• Reluctance to hand over control making it difficult to delegate
• The business is their baby that they have nurtured and seen become established and grow
• Relinquishing control is not easy as many entrepreneurs are emotionally (and financially) attached to the success of the business
• Loss of autonomy in decision making
• Transition from an autocracy to a more democratic style
• Learning to listen to and accept the opinions of others
• Learning to trust others and not feel a need to constantly oversee everything or micro manage