Starting a Business
Enterprise: An enterprise is the ability to handle uncertainty and deal effectively with change.
Entrepreneur: An entrepreneur is someone who starts and runs a business and has responsibility for the risks involved.
Key characteristics of a successful entrepreneur
- Passionate about thier product or service
- Visionary - they have faith in what they are trying to do
- Energectic and driven - prepared to work consistently long hours, especially in the early stages
- Self-starting and decisive - they don't wait for others to take decisions
- Calculated risk-taking - not reckless; they are prepared to take a risk in order to maximise the rewards
- Multi-tasker - able to handle problems and overcome hurdles
Risks: The possibility of an event happening that could cause destruction or damage of something perceived to have value.
- Financial Loss
Reward: is the expected…