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)