INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
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Risk-takers
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Goal orriented
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Good planners
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Confident
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Detailed explanation-1: -Risk-taking in entrepreneurship is the process of identifying, evaluating, mitigating, and trying out potential opportunities and strategies that may help you build or grow your business but could also lead to personal or professional loss.
Detailed explanation-2: -Thomas Edison: Deemed too stupid to learn anything He was unceremoniously fired from several of his first jobs because he was not productive enough. Even his first thousand or more attempts at getting the light bulb to work were failures.
Detailed explanation-3: -Risk-takers don’t think about the escape route, the factors that make it risky, and what the situation will be if they fail. Entrepreneurs take calculated risks; they’re willing to “go big or go home” but they understand the consequences if they fail and have taken into account the likelihood that they’ll succeed.
Detailed explanation-4: -Acknowledge that risk is part of entrepreneurship. Be prepared. Do your research. Consider the best-case scenario. Consider the worst-case scenario. Be ready to cut your losses. Learn from every experience. 30-Oct-2019