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characteristics of entrepreneur and risks - Coggle Diagram
characteristics of entrepreneur and risks
risk reward and drawback
risks and drawbacks
some risks could be: risking dropping out of collage or university, risking savings money, risking a salary if you have left a job for a business, health plans, mental health and time with family or loved ones
rewards
Some rewards would be satisfaction, a higher salary better health plans maybe and you can decide your own salary and work times
self satisfaction
gaining satisfaction in your work is important it means you will be happier and motivated to keep going particularly if things have become harder over a period of time an entrepreneur may decide to start an enterprise to learn a new skill or they may decide to turn a hobby into a business but it is important to ensure that thier hobby has potential to be a success it will involve lots of hard work each day which is often differant when it is a hobby as it is not a job however being satisfied through your work is important carefull planning is required to make sure money will not be wasted on the business
characteristics
creativity
you need to be creative so you can think of ideas
innovation
thinking of different way to do things that might be cheaper or more efficient
risk taking
you need to know what and when to take risks because even starting a business is a big risk
communication
you need to be able to communicate with people like workers
negotiation
you need to be able to negotiate with buyers to get what you want sometimes
confidence
you need to have confidence in yourself to take risks that could eventually pay off in the long term .
determination
you need determination so you have a goal or a drive to get were you want to be in the future
research
secondary
online research
journals
databases
primary
questionnaire
surveys
focus groups