ENTREPRENEURSHIP

Detailed explanation-1: -One major component of that plan is the financial strategy or “budget.” To develop a good business plan, young entrepreneurs need to know the math behind their business. Important components include determining cost, calculating break even, developing pricing strategies, and calculating projected sales.

Detailed explanation-2: -Freedom and passion, not money, is the main motivation. Nearly two-thirds of respondents said they had started their own business for one of those two reasons. On the other hand, money is not as much of a factor for many small business owners: Just 8% of respondents said that was their main motivation.

Detailed explanation-3: -The number one quality of an entrepreneur is self-discipline. You need to do the work-even when you don’t feel like it. If you have a day job, this could mean working long hours. You’ll need the self-motivation to wake up early or stay up late as you start your new venture.

Detailed explanation-4: -Answer. Innovativeness, leadership, risk taking, decision maker, motivator, dynamic agent trust in self, etc.