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September 24, 2021
BELT
Business

The scope and definition of entrepreneurship.

 

BUILDING AN ENTREPRENEUR

 

Today it’s all about Jane who describes herself as an entrepreneur. According to Jane, she can do so because she has the power to assess business opportunities and  take  risks. She also has the talent for identifying a requirement to satisfy and therefore the ability to create a new product or market and so much more.

Entrepreneurship may also be defined as being creative with the reallocation of resources to fresh opportunities. It also often ends up in the formation of other opportunities through the blending of skills of risk-taking and available resources.

Successful entrepreneurs are found to possess some qualities highlighted below;

Self-Understanding

 An understanding of your talents; assets and limitations, is equal to how successful you’ll be when starting a business and running it. An entrepreneur who recognizes and sees himself as a product that has got to be packaged right, can mean the difference between success and failure. A good entrepreneur requires an understanding of self to identify the type of business that he is best suited which will give him a high rate of success.

 

Understanding Your Vision and Mission

 The vision is the future position of your company, target market, and also meeting the needs of your customers, while its mission how you intend to get there.

 

Active Thinking

 Successful entrepreneurs never stop thinking and some even consider it a hobby. Active thinkers have most frequently been described as problem solvers because while they’re processing business concepts. They are also Identifying  multiple ways of solving a problem and   are often at the point of providing a solution. In the mind of an active thinker, problems are milestones that must be met and surpassed.

 

Active Learning

 An entrepreneur with this quality sometimes is  a compulsive learner. They seek more despite how much knowledge they possess. The target is to equip theirselves with faster and more practical ways to approach and solve problems. Also more profitable ways to sell a product, while leaving clients happier and looking for more. Besides, an individual who elects to stop learning could be on who has selected to perish.

 

prudent

This quality ensures that the entrepreneur knows when to spend money and on what. Successful entrepreneurs have described unnecessary spending as the path to failure, and as a result, they make sure that funds are not misappropriated . 

 

They are Discerning

Although successful entrepreneurs might hear all advice/opinions. they are discerning when it comes to selecting what works for them while not being easily influenced by these opinions.

Becoming a successful entrepreneur takes more than just thinking. It is more than  overflowing with ideas; “Ideas don’t run businesses, people do”.

check out this quote by Aliko Dangote https://www.instagram.com/p/CFti55NMT8i/?igshid=1kmvrabmvmt03

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