BDI3C1

Entrepreneurial Skills Working with a partner, create a list of skills that you believe are key to an entrepreneur’s success. Be prepared to share your answers.

Entrepreneurial Skills The skills that an entrepreneur possesses can typically be divided into three categories: 1. Interpersonal Skills 2. Critical and Creative Thinking Skills 3. Practical Skills

1. Interpersonal Skills Ability to talk to others, especially those different from ourselves Ability to listen and understand what others are saying Motivating others Encouraging others Negotiating and resolving conflicts Caring

2. Critical and Creative Thinking Skills Ability to solve problems by evaluating a variety of solutions Confidence to make a decision and act upon it Ability to set goals, plan how to achieve them, and carry out the plan Keeping records and being accountable for all actions undertaken Ability to generate ideas and identify opportunities

3. Practical Skills Ability to follow instructions Knowledge of specific tools in the business (eg. Computer literacy, ability to work with very small objects, etc.)

Strategies for Success Entrepreneurs should: Think before acting Consider a problem from different perspectives Resist the pressure to conform

Strategies for Success The business should: Challenge the entrepreneur’s abilities Allow for the use of creativity Suit the entrepreneur’s personality Be compatible with the entrepreneur’s vision of him / herself

Goals Goals – something you strive for in life Targets you set for yourself to accomplish or achieve something 2 Types: Short Term & Long Term

Short-Term Goals To be achieved right away or in the near future. (6 months or less) Eg. Grocery shop or mow the lawn in the next 2 days.

Long-Term Goals To be achieved in the distant future (10 years or less) Eg. Buy a car in 2 years.

Goals You can use short term goals as stepping stones to accomplish long term goals: Examples: Save $5.00 a week  Buy an iPod in 6 months Jog three times a week  Lose 10 pounds by end of year Devote 1 hour each night to homework  Achieve high school diploma in 4 years

Characteristics of Goals 1 – A goal must be expressed in specific terms. Identify what is to be achieved. 2 – A goal must be challenging, yet realistic and attainable. 3 – A goal must have a target date or involve a time span of some sort 4 – A goal must be flexible in case you change your mind about what you want to achieve.

SMART Goals Always try to set goals that are “SMART” S - specific M - measurable A - attainable R - realistic T - timeline