WHAT SKILLS DO ENTREPRENEURS NEED? Entrepreneurship 4/15/2017 Chapter 2 WHAT SKILLS DO ENTREPRENEURS NEED? 2.1 Communication Skills 2.2 Math Skills 2.3 Problem-Solving Skills Chapter 2

Lesson 2.1 COMMUNICATION SKILLS Chapter 2 Lesson 2.1 COMMUNICATION SKILLS GOALS Develop good skills for writing, speaking, and listening.

WRITING SKILLS Effective business letters Effective business memos Chapter 2 WRITING SKILLS Effective business letters Effective business memos

RULES FOR WRITING BUSINESS LETTERS Chapter 2 RULES FOR WRITING BUSINESS LETTERS 1. Key all formal correspondence. 2. Spell names correctly and have the correct address. 3. Always date your business correspondence. 4. Use names and titles appropriately. 5. Be direct and positive. 6. Be persuasive and specific. 7. Avoid using fancy language. 8. Be polite. 9. Use an appropriate closing. 10. Proofread for spelling and grammatical errors.

SPEAKING SKILLS Telephone conversations Chapter 2 SPEAKING SKILLS Telephone conversations Meeting with customers and suppliers

TELEPHONE TIPS 1. Speak clearly, and talk directly into the receiver. Chapter 2 TELEPHONE TIPS 1. Speak clearly, and talk directly into the receiver. 2. Be cheerful. 3. Always speak politely. 4. Think about what you are going to say before you make a call. 5. Take notes.

MAKING THE MOST OF PERSONAL CONTACTS Chapter 2 MAKING THE MOST OF PERSONAL CONTACTS 1. Shake hands and make eye contact with the person you are meeting. 2. Show an interest in what the other person is saying. 3. Speak clearly. 4. Do not appear rushed or anxious to be somewhere else. 5. Thank the person at the end of the meeting.

Chapter 2 LISTENING SKILLS 1. Focus your attention on the person who is speaking. 2. Think about and try to understand what the other person is saying. 3. Ask questions to make sure you understand what the person is saying. 4. Take notes to confirm what you are hearing.

GOALS Lesson 2.2 MATH SKILLS Use basic math skills in business. Chapter 2 Lesson 2.2 MATH SKILLS GOALS Use basic math skills in business. Complete sales transactions. Calculate percentages for business purposes.

BASIC MATH SKILLS Addition and subtraction Multiplication Chapter 2 BASIC MATH SKILLS Addition and subtraction Multiplication Averages using division

SALES TRANSACTIONS Purchase orders and invoices Sales tax Sales slips Chapter 2 SALES TRANSACTIONS Purchase orders and invoices Sales tax Sales slips Managing a cash drawer

BALANCING THE CASH DRAWER Chapter 2 BALANCING THE CASH DRAWER Cash $348.62 Checks 154.20 + Credit sales 218.98 Total receipts $721.80 – Refunds 21.47 Adjusted receipts $700.33 – Opening cash 50.00 Actual receipts $650.33

PERCENTAGES Growth rates Interest payments Exact interest method Chapter 2 PERCENTAGES Growth rates Interest payments Exact interest method Ordinary interest method Markups and markdowns Discounts Due dates Last day for discount

Lesson 2.3 PROBLEM-SOLVING SKILLS Chapter 2 Lesson 2.3 PROBLEM-SOLVING SKILLS GOALS Use the six-step problem-solving model. Recognize the importance of group decision making.

USE A PROBLEM-SOLVING PROCESS Chapter 2 USE A PROBLEM-SOLVING PROCESS Define the problem Gather information Identify various solutions Evaluate alternatives and select the best option Take action Evaluate the action

GROUP PROBLEM SOLVING Brainstorming Consensus-based decision making Chapter 2 GROUP PROBLEM SOLVING Brainstorming Consensus-based decision making

Chapter 2 BRAINSTORMING Brainstorming is a creative group problem-solving technique that involves generating a large number of fresh ideas.

CONSENSUS-BASED DECISION MAKING Chapter 2 CONSENSUS-BASED DECISION MAKING Consensus is agreement among a group of people.