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 E xamines 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 N arrows the possible opportunities down to one specific opportunity.

The Entrepreneur’s Dozen T hinks of an innovative idea.

The Entrepreneur’s Dozen R esearches the opportunity and idea thoroughly.

The Entrepreneur’s Dozen E nlists the best sources of advice and assistance that can be found.

The Entrepreneur’s Dozen P lans the venture and looks for possible problems that might arise.

The Entrepreneur’s Dozen R anks the risk and the possible rewards.

The Entrepreneur’s Dozen E valuates the risk and possible rewards and makes a decision.

The Entrepreneur’s Dozen N ever hangs on to an idea, as much as it is loved, if research shows it won't work.

The Entrepreneur’s Dozen E mploys the resources necessary for the venture if the decision is made to go ahead.

The Entrepreneur’s Dozen U nderstands that any entrepreneurial venture will take a great deal of long, hard work.

The Entrepreneur’s Dozen R ealizes a sense of accomplishment from successful ventures and learns from failed ones to achieve success in the future.

The Entrepreneur’s Dozen E xamines needs, wants & problems N arrows possible opportunities T hinks of an innovative idea R esearches the opportunity and idea thoroughly E nlists advice and assistance P lans the venture R anks the risk and the possible rewards E valuates the risk and possible rewards and makes a decision N ever hangs on to an idea if research shows it won't work E mploys necessary resources U 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