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Characteristics, risk and reward for enterprise - Coggle Diagram
Characteristics, risk and reward for enterprise
Rewards
Financial rewards
Profit
Sufficient cash to pay business debts
Access to sufficient funds when required
Drawbacks
Work life balance
Making sure the balance is correct if not both home and work will suffer
Characteristics of successful entrepreneurs
Innovation
Develops new products
Skills to generate new ideas or alternatives to existing ideas
Creativity
Demands for product and services
Risk taking
Willing to invest time and money in new enterprise
Risk of rejecting project failing
Entrepreneur
Relies on self-belief