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| Learning Outcomes |
In the following chapters i'll provide examples of the skills, qualities and characteristics of successful entrepreneurs.
In particular the importance of the personal qualities of the entrepreneur including:
• approach to risk-taking
• positive attitude
• problem-solving
• flexibility and adaptability
• creativeness
• intuitiveness
• drive to succeed
I'll demonstrate the stages involved in the development of new ideas such as:
• gathering information as a normal part of life. Importance of ‘watch, look and listen’ at all times.
• researching old, new or niche markets
• investigating competition using various means such as: mystery shopping, buying and returning goods,stealth but nothing illegal
• recognising opportunities – may be gut-feeling or instinct
• addressing negativism – other people may not always see the possibilities
I'll describe how to obtain finance for new ideas. Sources of finance to best meet requirements such as:
• own capital
• friends and family
• banks and other investors
• venture capital
• share capital
• Government grants
• devising a potential business plan
• presenting a potential business plan to potential financiers
• winning support from potential financiers
I'll demonstrate how to value customers and build their loyalty by:
• taking care over detail
• enabling customers to build association with a brand
• becoming a trusted advisor
• exceeding the expectations of customers
• guaranteeing 100% satisfaction
• acting on complaints, ideas, suggestions
• promoting employee ‘buy-in’
And finally how you may evaluate your personal potential as an entrepreneur and recommend how these skills could be developed. This may include:
Evaluation:
• analysing own entrepreneurial skills
• highlighting particular strengths and weaknesses
Development of entrepreneurial skills:
• sources of advice
• sources of training and development
• personal coaching and mentoring
• networks
• enterprise clubs
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