ENTREPRENEURSHIP

An entrepreneur should make sure that he has adequate management knowledge, financial knowledge, marketing knowledge and relevant business experience.

Ideally, an entrepreneur ought to have adequate industrial, supplier and potential customer contacts and links.

An entrepreneur ought to exhibit or possess personal characteristics and attributes that are considered suitable with the chosen entrepreneurial fields, e.g. a restaurant owner should be willing, diligent and happy to serve his customers.

An entrepreneur should work out effective strategies for the proposed business and perhaps use a business model canvas, and prepare a good business plan for project implementation.

Risk assessment and risk mitigation are only applicable to big businesses.