MODULE 2 Entrepreneur skills, Study notes of Entrepreneurship

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MODULE 2 Entrepreneur skills

This project has been funded with support from the European Commission. This publication

[communication] reflects the views only of the author, and the Commission cannot be held responsible

for any use which may be made of the information contained therein.

CRAYON’s TRAINING COURSE Creativity in Action to promote YOung eNtrepreneurShip Project number 2015- 1 - ES01-KA203- 016056

JUSTIFICATION There are false myths and many missunderstandings about what is to be an entrepreneur person. An entrepreneur does not necessarily finalises his or her project with a business or firm, an entrepreneurs may also be someone implementing a project within an organisation or being able to define his/her own professional path and make it real. Having said this, there are several skills and competences that entrepreneurs share and that must be known. This project has been funded with support from the European Commission.

INDEX OF CONTENTS

1. An insight into an ENTREPRENEUR’s profile
2. Entrepreneurial CHARACTERISTICS
3. Entrepreneurial **SKILLS
4. QUALITIES** an entrepreneur needs to possess
5. Entrepreneur’s DNA This project has been funded with support from the European Commission.

Who is an ENTREPRENEUR?

• Hard to define!
• Definitions
  • People who own, operate, and take the risk of a business venture are called entrepreneurs.
• Somebody who has IDEAS and makes these ideas happen or come to life.
• Must have some BUSINESS SKILLS (ideation, creativity & innovation)
• Somebody who ASSUMES RISKS
• Desires to MAKE PROFIT This project has been funded with support from the European Commission.

What do Entrepreneurs Do?

• Entrepreneurs bring together various resources in order to pursue a venture that addresses some need, want, or problem in an innovative way;
• Entrepreneurs have the ability to see what others have not seen and the courage and skill to act on the opportunities perceived;
• Entrepreneurs carefully weigh “opportunities” against “ risk ” before acting. This project has been funded with support from the European Commission.

Why do people become entrepreneurs?

• People go into business for themselves for many reasons.
  • Some want to leave the fast-paced corporate environment.
  • Others want to be at home but still earn an income.
  • Others want to pursue a personal dream.
• The reason why you wish to become an entrepreneur may be completely different from these. This project has been funded with support from the European Commission.

64.2% said that

they always dreamt

of opening up a

company.

This project has been funded with support from the European Commission.

74% were motivated

to accumulate wealth.

This project has been funded with support from the European Commission.

Think Critically

• What are your reasons for wanting to become an entrepreneur? Do you think they are common to all entrepreneurs, or are some of your reasons unique?
  • Independence
  • Flexibility
  • Enjoying work This project has been funded with support from the European Commission.

1. Entrepreneurs are innovators ➢They observe an opportunity. ➢They create new goods and services. ➢They improve existing products. What’s the ROLE of an Entrepreneur? This project has been funded with support from the European Commission.

3. Entrepreneurs provide jobs ➢They hire workers for their businesses. ➢They consume resources, thus providing jobs in the industries that supply those resources. What’s the ROLE of an Entrepreneur? This project has been funded with support from the European Commission.

4. Entrepreneurs help the economy grow. They help society. They: - Create new products/services to provide convenience. - Create competition that lowers price. - Find new ways of making products available. - Create jobs, Create new opportunities. - Increase in # of products produced in the economy (economic growth) - Help communities to progress and grow. - Provide a spirit of adventure (Cirque du Soleil) - Help the country to compete internationally and to be recognized (globalization). What’s the ROLE of an Entrepreneur? This project has been funded with support from the European Commission.

BENEFITS of Being an Entrepreneur This project has been funded with support from the European Commission.

BENEFITS of Being an Entrepreneur This project has been funded with support from the European Commission.