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Y11 - Entrepreneurship 2: Attributes of Entrepreneurs
Transcript of Y11 - Entrepreneurship 2: Attributes of Entrepreneurs
To think in an entrepreneurial way
Knowledge & Understanding
Attributes of entrepreneurs
Skills Entrepreneurs have in Common
Over to you
"Are you entrepreneurial?"
What would an entrepreneur never say?
Could setting up your own business be something that you would like to do in the future?
Create a Strengths, Weaknesses, Opportunities and Threats analysis for setting up your own business.
Read either the Duncan Bannatyne or the James Dyson account.
Take it in turns to tell your partner about ‘your’ entrepreneur and which qualities/skills you think this person possesses that made them successful.
You must refer to the part of the account shows that they had this quality/skill.
What does it take to set up and run a successful business?
If not, why not? If yes, then why
In your PSHCE Books answer the following question with an explanation:
• Invest for the long-term
• Finding and managing the right people
• Ability to sell
• Ability to learn
The ability to weather the ups and downs of any business since it never goes exactly the way the business plan described it.
This skill enables the entrepreneur to keep going when the outlook is bleak.
After setting a long term vision, knowing how to “laser focus” on the very next step to get closer to the ultimate goal.
There are so many distracting forces when trying to build a business that this skill is not easy to master.
Most entrepreneurs are not patient and focus only on what comes next, rather than where the company needs to go.
Overnight success may take 7 to 10 years. Entrepreneurs need to stop, pause and plan on a quarterly basis.
Only by learning to leverage employees, vendors and other resources will an entrepreneur build a scalable company.
They need to learn to network to meet the right people.
Entrepreneurs strive to guarantee they will get honest and timely feedback from all these sources.
Every entrepreneur is a sales person whether they want to be or not.
They are either selling their ideas, products or services to customers, investors or employees.
They work to be there when customers are ready to buy.
Alternately, they know how to let go and move on when they are not.
Successful entrepreneurs realise they don’t know everything and the market is constantly changing.
They stay up to date on new systems, technology, and industry trends.
Allow downtime to reflect on the past and plan for the future.
Always working only leads to burnout physically and emotionally.
While there is a lot of help for the entrepreneur, in the end, they need to be resourceful enough to depend on themselves.