ENTREPRENEURSHIP

Detailed explanation-1: -Successful entrepreneurs need math skills so they can create budgets. The primary motivation for becoming an entrepreneur is to make money. In the United States, fewer than half of the entrepreneurs have some college education . A personal characteristic needed to be a successful entrepreneur is inflexibility.

Detailed explanation-2: -An entrepreneur must know basic arithmetic operations such as addition, subtraction, division, and multiplication. Such operations help you perform accurate calculations with your customers, vendors, and investors. Knowledge of basic arithmetic also makes you confident of the financial decisions you make.

Detailed explanation-3: -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-4: -While there is no magic formula for beings a successful entrepreneur, those who do succeed tend to have mastered the following set of skills: good and effective communication; being able to sell both themselves and their idea or product; strong focus; eagerness to learn and be flexible; and a solid business plan.

Detailed explanation-5: -analyzing business performance An entrepreneur with average mathematical skills can manage his entrepreneurial work efficiently. The key to success in math is focus. Business math is basically high school math. It is mostly arithmetic, algebra, and some statistics.