“Build-Your-Business Worksheet – Think like an Entrepreneur Source: Entrepreneur
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Question
“Build-Your-Business Worksheet
–
Think like an Entrepreneur
Source:
Entrepreneurship: A Real World Approach
, by Rhonda Abrams, page 9.
The most successful entrepreneurs possess numerous key characteristics. Not all
entrepreneurs have all of them, of course. But check the traits that apply to you. Work on
developing the ones you’re missing.
You see opportunities where others see problems.
When you encounter a need that isn’t
filled or a flaw in a product, service, or even our society, you look to see if there’s a way to
solve it.
You are driven to succeed.
You’re so motivated to achieve your goals that you’re prepared
to overcome obstacles that would likely discourage or stop others.
You are a self-starter
. Rather than waiting for someone to issue instructions, you can take
initiative. When you’re interested in something, you don’t need others to tell you what to
do.
You are persistent.
You don’t give up on things easily. You can handle setbacks and keep
on going.
You are innovative
. You can think “outside the box” when attempting to meet challenges.
You are energized by challenges.
The idea of having to solve a problem, create something
new, or build something from nothing, spurs you rather than deters you.
You take control of your own destiny and bear responsibility for your own actions.
You
don’t blame others for what happens to you in life. You can honestly accept responsibility
for the results – both positive and negative – of decisions you make and actions you take.
You are willing to give up the security blanket of a “regular” job.
You don’t mind working
without the safety net of a regular paycheck or the benefits and social structure that an
established employer provides.
You accept and embrace change.
Change is inevitable, yet in the entrepreneurial world,
change comes even faster and more frequently. But rather than fearing it, you welcome it
and enjoy the excitement of the ride.
You can be a team player.
No great entrepreneurs succeed on their own. You’re able to
work with others to achieve a common goal. You’re capable of listening to others’ ideas
and incorporating the good ones into your own thinking.
You understand the importance of making a profit
. You know that all your best intentions
and actions are for naught if you aren’t actually making a profit – that is, bringing in more
money by selling a product or service than it costs you to provide it. You’re not
embarrassed by the idea of making money.”
Review the "Think Like an Entrepreneur" Worksheet from page 9 of the textbook (also presented as a file in next Session 1 module item).
In the assignment box, discuss each trait that applies to you (with examples) as well as the traits that you are interested in developing. Take your time to provide a thoughtful assessment.
Explanation / Answer
This the most important part in life as I seek to evaluate myself at any point of time to always make sure I keep on improving my skills. Many a I sit in silence and tuith about my reactions to particular things and ways to improve on those.
Seeking Opportunity and working on it:
Necessity is the mother is all invention, and so it is important to look around as to what is the need to the hour, make a plan to fulfill it. This helps to be sure of the product and it's sale.
Self Motivation:
When we start a business it is not necessary that everybody around us appreciates it, some will try to mock, there might be incidents where we get into any loss,at such time self motivation is important. I have tried a few small sale businesses, few worked, few didn't but this never stippst me from working on anything new.
Innovative Thinking:
Doing what everybody is doing will not make you stand out, you need to stand out of the rest to make your mark. Thai requires a lot of research, I generally try to work on my product and make sure it stands out.
Responsiblity:
If I don't take responsibility for what I sell, then why the costumer will buy it from me, also as entrepreneur, I have to take responsibility for people working with me and for me.
Risk Taking:
This is something I need to improve on, I feel I try to play everything much more safe, in order to grow calculated risks are to be taken.
Change Acceptance:
Business flourishes only when necessary changes are made as per the time demands, so innovation and upgradation is important.
Team Player:
Working and building a good relationship with your co- worked helps you to improve the environment of your business, and thus inturn helps you to grow, I make sure I care about the well being of my employees, so they feel appreciated, and work better.
Importance of Returns :
Rewards, profits and return are the main reason for any business to start, keep going. When you get the return it gives you the drive to keep on going.
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