INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Because there are no more creative enterprises to create a business out of.
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Because entrepreneurs always fail.
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Because you often risk your own personal wealth.
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Because people don’t trust entrepreneurs.
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Detailed explanation-1: -Business leaders accept risk as a cost of opportunity and innovation. They know it cannot happen if you will not accept the risk that your undertaking might fail. The level of risk may be lessened, however, if you make all possible calculations and evaluate which options are best before proceeding to the next step.
Detailed explanation-2: -There are some clear benefits to taking intentional risks when starting or scaling a business, including: Getting the first-mover advantage. Learning quickly from your wins (and failures) Expanding your experimental mindset.
Detailed explanation-3: -An entrepreneur is an individual who takes the risk to start their own business based on an idea they have or a product they have created while assuming most of the risks and reaping most of the rewards of the business.
Detailed explanation-4: -Successful entrepreneurs are focused on earning a profit from their activities. Consequently, they avoid taking risks that could lose them money. As an entrepreneur, you must make profit-seeking the center of your activities.
Detailed explanation-5: -Managing cash flow. Finding your niche and marketing your value. Ineffective sales funnel. Competition. Lack of scalability. Overcoming red tape. Operational challenges. Entrepreneurial burnout. More items