Chapter 2 Entrepreneurs and Enterprising People Mr Singh

Chapter 2: Entrepreneurs and Enterprising People Mr. Singh

Characteristics of successful Entrepreneurs � Self Confident : � Believe in themselves and their ability to succeed � They set attainable goals and approach them with confidence � Perceptive � Intuitive � They know what’s going on � Identify problems and find creative solutions

Characteristics of successful Entrepreneurs � Hard-Working � They need stamina that comes from good physical and mental health � They must balance work and friends & family � Motivated � Driven by their internal need for accomplishment � Always seeking opportunities for success

Characteristics of successful Entrepreneurs � Resourceful � They explore, ask questions, and use whatever resource they can to achieve goals � They often develop a broad network of associates who can help them with obstacles � Able to manage risk � They view risk as a challenge to be overcome � They take calculated risks � They take on risk because of the rewards involved if successful

Characteristics of successful Entrepreneurs � Creative � They look at the world in new and different ways � They don’t sit and wait for things to happen � They take charge in shaping the world � Goal-Oriented � They are determined to reach their goals � Once they reach it, they set new goals � They need to be accomplished which gives them momentum going forward

Characteristics of successful Entrepreneurs Optimistic � They have a positive mental attitude � Minor setbacks don’t discourage them � They believe no matter how hard, they can win � Flexible � They are able to adjust to the market, technology, and to competition � If one idea doesn’t work, they look for another

Characteristics of successful Entrepreneurs � Independent � They enjoy their freedom � They can’t be managed by anyone � They often leave secure jobs to move out on their own � Visionary � They have a vision on how the future looks � This gives them strength to continue to step towards their goals � They need to be able to communicate their vision to others

Characteristics of successful Entrepreneurs � Able to get along with others � They gather a team around them, carefully choosing team members who will help their goal � They’re able to strategically pick people to work with and build an effective team

Entrepreneurial Skills � Communicate – listen, speak and write � Generate ideas � Identity Opportunities � Plan � Organize � Make decisions � Solve problems � Negotiate � Network � Market their ideas � Keep Records (Financial and others) � Lead Others

What makes an Entrepreneur tick? Most Important � Be their own boss � Achieve a sense of personal accomplishment � Have adventure � Have freedom to adopt their own approach to work Least Important � Continue family tradition � Leave an insecure work environment � Follow a person they admire

What motivates you to excel? � Most people need to earn money to live, but money is not usually what motivates employees to excel � Research shows employee recognition is a key factor in motivating employees � Self-esteem is an internal motivator � Money is an external motivator � Which one of the 2 can last a lifetime?

Enterprising Employees � How do you create an environment that empowers employees to reach their full potential and to communicate a compelling vision of the future? � Create a workplace culture where they feel their input is valued � It is safe to make and learn from mistakes � Provide the tools needed to achieve results � Offer meaningful work that adds to society � Provide alternate work arrangements � Support employees with benefits

Questions � Identify situations in your own life where you have demonstrated any five of the characteristics and skills discussed � Brainstorm the names of some entrepreneurs in your community. List and record all the entrepreneurial characteristics and skills this person demonstrates? � If you could build an entrepreneur, what characteristics and skills would they posses and why? (Be detailed for this answer)