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    (APP 004) SAS 2 - Knowing The Qualities of An Entrepreneur

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    tina.llano.swu
    Successful entrepreneurs possess key characteristics and skills. They are self-motivated risk-takers with a flexible vision and passion for their work. Entrepreneurs also need strong management skills, confidence, and the ability to communicate, think strategically, and manage finances. While many new businesses fail within a few years, largely due to poor cash management, successful entrepreneurs maintain a work-life balance by avoiding distractions from mobile devices during meals with others.

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    (APP 004) SAS 2 - Knowing The Qualities of An Entrepreneur

    Uploaded by

    tina.llano.swu
    12 views3 pages
    Successful entrepreneurs possess key characteristics and skills. They are self-motivated risk-takers with a flexible vision and passion for their work. Entrepreneurs also need strong management skills, confidence, and the ability to communicate, think strategically, and manage finances. While many new businesses fail within a few years, largely due to poor cash management, successful entrepreneurs maintain a work-life balance by avoiding distractions from mobile devices during meals with others.

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    [APP 004] SAS 2 - Knowing the Qualities of an Entrepreneur

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    Successful entrepreneurs possess key characteristics and skills. They are self-motivated risk-takers with a flexible vision and passion for their work. Entrepreneurs also need strong management skills, confidence, and the ability to communicate, think strategically, and manage finances. While many new businesses fail within a few years, largely due to poor cash management, successful entrepreneurs maintain a work-life balance by avoiding distractions from mobile devices during meals with others.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    12 views3 pages

    (APP 004) SAS 2 - Knowing The Qualities of An Entrepreneur

    Uploaded by

    tina.llano.swu
    Successful entrepreneurs possess key characteristics and skills. They are self-motivated risk-takers with a flexible vision and passion for their work. Entrepreneurs also need strong management skills, confidence, and the ability to communicate, think strategically, and manage finances. While many new businesses fail within a few years, largely due to poor cash management, successful entrepreneurs maintain a work-life balance by avoiding distractions from mobile devices during meals with others.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    SAS 2 - Knowing the Qualities of an Entrepreneur

    2.1 Characteristics of an Entrepreneur

    Characteristics Definitions

    You need to be able to push yourself. You aren’t answerable to anyone else as an entrepreneur, and that sometimes
    Self-motivation
    means that it’s hard to get moving without anyone to make you.

    Understanding calculated risks that are more likely to pay off is an important part of being an entrepreneur. You’ll
    Risk Tolerance
    need to be willing to take a few risks to succeed.

    Be willing to change as needed. Stay on top of your industry and be ready to adopt change in processes and product
    Flexibility
    as they are needed.

    Passion is what will help you find motivation when you are discouraged, and it will drive you forward. Passion is
    Passion
    fuel for successful entrepreneurship.

    Management Skills and Understand how money works so that you know where you stand, and so that you run your business on sound
    Knowledge principles/

    The best entrepreneurs have a vision as to what they want to achieve, how they can accomplish their objectives, and
    Vision
    whom they need on their side to reach their goals.

    They have to be confident both in themselves and in the products or services they sell. If they believe in themselves,
    Confidence
    they will have the ability to stay the course regardless of the difficulties and discouragement.

    SAS 2 - Knowing the Qualities of an Entrepreneur 1


    2.2 The Most Important Skills Entrepreneurs Need

    Time Management

    Strategic Thinking

    Efficiency

    Communication

    Curiosity

    Finance

    Network

    Branding

    Sales

    2.3 FAQs

    1. What percentage of entrepreneurs are successful?


    → When it comes to running a business, about 80% make it through their first year. This percentage tends to gradually reduce
    as the years go by. Only 70% survive their second year, and by the tenth year, only about 30% remain in business.

    2. What is the main reason of business failures?


    → 82% of business failures are due to poor cash management. Business failures have become rampant in the world. This is
    usually due to the poor management of finance. According to popular entrepreneur statistics, about 82% of business failures
    are due to poor cash management.

    3. 72% of small business owners say that they don’t check their mobile devices while eating with others.

    SAS 2 - Knowing the Qualities of an Entrepreneur 2


    → As an entrepreneur, dealing with distraction from work can be a bit difficult. A research project reported that 72% of small
    business owners don’t check their mobile devices while eating with others. This approach helps them maintain a healthy
    work-life balance.

    SAS 2 - Knowing the Qualities of an Entrepreneur 3

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