Characteristics of a successful entrepreneur
- Willingness to take risks
- Ability to spot opportunities
- Determination and persistence
- Passion
- Relevant skill/ expertise
- Vision/creativity
- Motivation to succeed
OPPORTUNITY COST
Is the real cost of taking a particular action or the next best alternative forgone.
MOTIVES FOR BECOMING AN ENTREPRENEUR
reasons include
- government encouragement ( enterprise education in school)
- increasing wealth, gives more business opportunities
- the pace of change, which is constantly creating new opportunities
- the desire for more independence at work
- a wish to make money
- a desire to use a talent or skill in a useful and profitable way
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