Entrepenurial Qualities Flashcards
What does an opportunity seeker do?
See gaps in the market and are constantly looking for new ideas and opportunities so they can get ahead of their competitors.
What are the 13 characteristics of a good entrepreneur?
Opportunity seeking Commitment Perseverance Risk taker Big dreams clear vision Flexibility (able to adapt quickly) Desire for responsibility Good management and leadership Confidence in their ability to succeed High levels of energy passion Organizational skills Will power to overcome obstacles
Commitment?
Aspire to be the best they can be
Work hard with a good work ethic which shows they are proud of what they do
Perseverance?
These are often entrepreneurs who failed with their first business ideas.
Learned from their mistakes
Kept setting goals
Kept working and didn’t give up
What does a risk-taker do?
Take careful and calculated risks.
Asses and understand all the risks taken
High risks sometimes have a high return
Big dreams but a clear vision?
Many entrepreneurs have a clear vision of what they want.
They set realistic goals to achieve this.
Flexibility , adapt quickly and easily
Constantly develop
Monitor and evaluate the progress and flexibility of their business
Develop alternate solutions to achieve their goals when things don’t go as planned.
Desire for responsibility?
See business as an extension for themselves and therefore take full responsibility for it.
Responsibility for things like contractual obligations, completing jobs, business finances
Good management and leadership?
Because they are often accountable for many people , they must have good management, people and leadership skills.
Link and encourage and persuade others
Confidence in the ability to succeed?
Strong belief in themselves that they can complete difficult tasks.want to solve problems and have a successful business.
High levels of energy?
Just a good skill to have
Passion?
Make their passion into a business
Enjoy and love what they do
Find something g they believe in
Driven to achieve their goals
Good organizational skills
Good at combining and organizing the 3 factors of production
Physical resources
Human resources
Financial resources
Willpower to overcome obstacles
Another good skill to have
