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Characteristics, risk and reward for enterprise - Coggle Diagram
Characteristics, risk and reward for enterprise
Characteristics of a successful entrepreneur
Innovation
When you can develop a new idea, product or service that is different from the rest.
Risk Taking
Willing to invest both time and money into their new business idea even though it could go wrong.
Communication
Talking face to face with investors or making calls or video dcalls to discuss ideas.
Negotiation
Being able to discuss different ways to around creating your business to reach an agreement.
Confidence
To be able to persuade customers and to believe in your own business ideas. They also need confidence to present their ideas that could be controversial.
Determination
Not giving up on your business idea even though it could be going wrong.
Creativity
Skills to generate new ideas or alternative to existing ideas.
Rewards
Financial
You make a profit. Make more than what you were earning before.
Independence
Control over their own career and not work for others. Can make your own decisions.
Self-satisfaction
To be satisfied with the work you have completed and business you have created.
Making a difference/change
Being ethical or considering sustainability in your business.
Drawbacks
Financial
Business could fail and you could looses you money and savings.
Health/wellbieng
You can experience financial pressures.