Entrepreneurial mind frame. This allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation
Entrepreneurial heart flame. Entrepreneur's driven passion, they are attracted to discover satisfaction in the act and process of discovery.
Entrepreneurial gut game. This refers to the ability of the entrepreneur of being intuitive.
A tool that entrepreneurs can use to help them decide what is the most suitable business idea they could introduce in the market is SWOT Analysis.
SWOT analysis stands for Strengths, Weaknesses, Opportunities, Threats.
Weaknesses - internal factors that make it more difficult to compete with others
Strengths - internal factors that give an advantage over competitors
Opportunities - external factors that may be taken advantage of by an organization
Threats - external factors that pose danger or risk to the success of the organization
5 Criteria to examine if your business is Feasible: Customer, Timing, Finance, Competitiveness, Product
A) Creation of entrepreneurial ideas
B)
Customer -- a person who has the capacity to acquire your product/ service, it maybe individual, family, and group of people, employees, other company, etc.
Timing -- It is important in business to consider the timing because of different preferences and trends of the products in the market.
Estimated Capital -- use for starting up and during the operation of the business.