Entrepreneurial Skills & Process

BDI3C

Skills Important for Entrepreneurship

creative thinking

research

planning

decision-making

organization

communication

Entrepreneurial Skills (cont.)

team building

marketing

financial management

record keeping

strategic planning

goal setting

The Entrepreneur’s Dozen

Examines needs, wants and problems for which he/she feels something can be done to improve the way needs/wants are met or problems overcome.

The Entrepreneur’s Dozen

Narrows the possible opportunities down to one specific opportunity.

The Entrepreneur’s Dozen

Thinks of an innovative idea.

The Entrepreneur’s Dozen

Researches the opportunity and idea thoroughly.

The Entrepreneur’s Dozen

Enlists the best sources of advice and assistance that can be found.

The Entrepreneur’s Dozen

Plans the venture and looks for possible problems that might arise.

The Entrepreneur’s Dozen

Ranks the risk and the possible rewards.

The Entrepreneur’s Dozen

Evaluates the risk and possible rewards and makes a decision.

The Entrepreneur’s Dozen

Never hangs on to an idea, as much as it is loved, if research shows it won't work.

The Entrepreneur’s Dozen

Employs the resources necessary for the venture if the decision is made to go ahead.

The Entrepreneur’s Dozen

Understands that any entrepreneurial venture will take a great deal of long, hard work.

The Entrepreneur’s Dozen

Realizes a sense of accomplishment from successful ventures and learns from failed ones to achieve success in the future.

The Entrepreneur’s DozenE xamines needs, wants & problemsN arrows possible opportunitiesT hinks of an innovative ideaR esearches the opportunity and idea thoroughlyE nlists advice and assistanceP lans the ventureR anks the risk and the possible rewardsE valuates the risk and possible rewards and makes a

decisionN ever hangs on to an idea if research shows it won't workE mploys necessary resourcesU nderstands the venture will require long, hard work.R ealizes accomplishment from success & learns from

failure

The “Top 10” Characteristics

Entrepreneurs tend to:1. Have a spirit of adventure

2. Have a strong need to achieve and seek personal accomplishment

3. Be self-confident and self-reliant

4. Be goal-oriented

5. Be innovative, creative, versatile

The “Top 10” Characteristics (cont.)

Entrepreneurs tend to:

6. Be persistent

7. Be hardworking and energetic

8. Have a positive attitude

9. Be willing to take initiative

10. Have a strong sense of commitment