LESSON 2 Flashcards
This allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation. Being a risk taker, an entrepreneur can find solutions when problems arise.
Mind frame
Entrepreneurs are driven by passion; they are attracted to discover satisfaction in the act and process of discovery. Passion is the great desire of an entrepreneur to achieve his/her goals.
Heart flame
This refers to the ability of the entrepreneur of being intuitive. This also known as intuition. The gut game also means confidence in one’s self and the firm belief that everything you aspire can be reached.
Gut game
A person with entrepreneurial interest sees possibility of business opportunities in any new discovery or because of the use of latest technology.
Discovery and Advancement
The priorities, projects, programs, and policies of the government are also good sources of ideas.
Government’s Thrust, Programs, and Policies
The interest, hobbies, and preferences of people are rich sources of entrepreneurial ideas.
People’s Interest
The expertise and skills developed by a person who has worked in a particular field may lead to the opening of a related business enterprise.
Past Experiences
It is the act or process of trying to get or win something.
Competition
They are the ones that pay cash in exchange for your goods and services.
Buyers
Is defined as companies or businesses that have the ability to penetrate or enter into a particular industry.
New Entrants
Is a state or situation wherein business organizations are competing with each other in a particular market.
Rivalry
Is one that serves the same purpose as another product in the market.
Substitute Products
Are the one that provide something that is needed in business operations such as office supplies and equipment.
Suppliers
