- Being ready to take risks and showing initiative to create new businesses or innovate existing ones
- Enterprise is being entrepreneurial, an entrepreneur is someone who is enterprising, enterprising requires enterprise – they all come from the same word!
- Entrepreneurs are people who show certain qualities
- They need these qualities in order to start a business or improve their business
- Here are the skills/qualities:
- Chances are you’ll just have to pick them from a list, but there are some bullet points in case you have to define or go into detail…
Taking Calculated Risks
- Entrepreneurs see risks as opportunities, even though others may see them as dangers
- Taking a calculated risk involves making sure you have as much control over the outcome as you can
- Entrepreneurs take calculated risks without the fear of failure but they never risk everything!
- Being able to know what people will want in the future
- Being able to anticipate opportunities and risks
- Being able to see how elements of the business link together
- I think I’m supposed to say how wonderful mind maps are now, but, the thing is, I HATE THEM!
- Mind Maps are supposed to be good because they encourage you to see how things are linked together
- They work in the same way as your brain (yeah, right…) and use words, images, colour, spatial awareness and logic. (Although logic leads me to discourage you from using them)
- They are not designed to be neat and should be unique to each person (I like mine on fire)
- Basically, being decisive
- Not waiting for orders – instead figuring out for yourself what to do!
- This is a crucial skill and is very important when you’re faced with difficulties
- You need to find out a lot of information so you can make the best decisions
- Requires a lot of the stuff I’ve already mentioned
- Need to be able to make people believe in you, and want to follow your path
- Not all leaders are extremely confident (apparently Richard Branson isn’t)
- Leaders don’t have to be confident; entrepreneurs have to be leaders; entrepreneurs have to be confident – doesn’t make much sense to me…
- Business Plans – GCSE Business Studies Revision (mattg99.wordpress.com)
- Franchising – GCSE Business Studies Revision (mattg99.wordpress.com)
- Cash Flow – GCSE Business Studies Revision (mattg99.wordpress.com)
- Estimating Revenues, Costs and Profits – GCSE Business Studies Revision (mattg99.wordpress.com)
- Obtaining (Short and Long term) Finance – GCSE Business Studies Revision (mattg99.wordpress.com)