The role and characteristics of an entrepreneur

• What is an entrepreneur?

  Someone who runs their own business
• What are entrepreneurs prepared to do to be successful?

  Take risks
• What is one characteristic of an entrepreneur?

  Innovate
• What does organizing resources involve for an entrepreneur?

  Managing and training people
• What is the first step in setting up a business?

  Come up with an idea
• Why is research important when starting a business?

  To validate the business idea
• What is involved in planning a business?

  How it will work
• What does raising finance entail?

  Securing funds for the business
• What is a key decision when setting up a business?

  Decide location
• What does organizing resources include?

  Managing and training people
• What is intrapreneurship?

  Employees using entrepreneurial skills
• What can intrapreneurs drive within a company?

  Innovation and creativity
• What is a potential award for intrapreneurs?

  Queen's Award for Enterprise
• What is one fear that can hinder entrepreneurship?

  Fear of failure
• What is a common barrier to entrepreneurship?

  Lack of finance for startups
• What does risk in entrepreneurship involve?

  Uncertainty of future events
• What is profit maximization?

  Lowest costs and highest revenue
• What is profit satisfying?

  Making enough profit to maintain interest
• What is one non-financial incentive for entrepreneurs?

  Independence
• How many hours do employees work on average per week?

  39 hours
• How many days off do entrepreneurs take on average in a year?

  9 days
• How much busier do entrepreneurs claim to be compared to employees?

  60% busier
• What is the most important characteristic of an entrepreneur?

  Risk taker
• What are the key characteristics of an entrepreneur?

  • Motivated
  • Determination
  • Calculated risk takers
  • Leadership skills
  • Ability to plan
  • Initiative
  • Clear vision
  • Ambition
  • Passion
  • Luck
• What are some important skills for entrepreneurs?

  • Persuasion
  • Problem-solving
  • Hard working
  • Negotiation
  • Resilience
  • Good planning
  • Vision
  • Initiative
  • Quick learner
  • Networking
  • Confidence
  • Communication
  • Good sales skills
  • Customer service
  • Good with numbers
  • Multitasking