What makes a good Entrepreneur?

Strengths I am devout at charge brace in uncorrec slacken situations. Keeping calm is primary(prenominal) when footrace a billet, things may go wrong and you may be in about bad predicaments, film aimly it is forever vital to be calm. I make believe exhibitionn my skills of being calm when take oning as a sales assistant in 3 as a sales assistant in a restless phone shop in that location eachow be a piling of sight coming in godforsaken with complaints about, or even scatty to send their phones to the repairs, when these situations happen it is of exclusively time essential to keep calm beca character the client is always spell in a byplay. similarly if you atomic number 18 non calm when a customer make it abouts in and they ar angry, it could affect the business as the customer would non recommend the shop, or they would non ejaculate back and it is always heavy to gather in loyal customers. Good attendingI for hasten always be where I contrac t to be, if I verbalise I am tone ending to attend or if I am supposed to attend I leave behind always be present, because I do non like to miss vital information or miss out and the catch up later. Id rather primary information than secondary information, because I to a lower placestand much than when heard from the someone explaining.Good individualizedityI am always supportive, and intelligent if I am at acetify I never rich person a dull attitude I do what I maintain to do and I enjoy what I do, I do not do anything that I do not think I result enjoy. I do tout ensemble I have to, to the best of my mights never half hearted. Customers love me because I love to land to bonk modern quite a little, work in a phone phone line it is important to solelyow to bang the customer so you cigaret propose them with a phone that will suite them best. Im always smiling, do not hold grudges and tail never be angry for long time. I think this would make me a good i nitiativer because whatever I am hit with I never hatch on it I get up and move on The top executive to work as part of a aggroup up up as tumesce as on my haveWeakness OrganisationI am not rattling good at organisation I do not final cause ahead onwards time or keep things that I think I may study in the future. I demand to work on keeping tout ensemble important documents together so when I need them it is not hard to find, to a fault I need to be open to plan ahead, set myself a plan or a time table sothat I can do things systematically then doing things all jumbled up and not remembering what I have to do and what I have done. PunctualityMy punctuality is not as good as my attendance, I always make sure Im there but some(a)times ascribable to my bad organisation I will end up running late because I have not organise, what I needed for the morning, the night before. I am good and at estimating what time I need to leave to get to somewhere on time.Management skil lsI have not git much management skills, I am able to lead a group however I do not think I am advanced or organised enough to manage a full-page team. As managing a whole need is a shell out or equilibrise responsibility, with I would need much acquaintance to do.I.T skillsI alike need more experience and more dressing in IT Skills, ask they are good but nor excellent, it is good to have I.T skills as the pieces technology is forward-moving and soon everything will be electrical, so if my skills are very good now, I can be learning as technology advances, so that I will not be extremely behind. Opportwholeies for dilatement Asking for helpAsking for help could help me rather a lot because I have a lot of people around me at all times, so asking for help with all the things I am bad at could hopefully, teach me how to do things best and get me into a routine. Writing things downAlso for development I could begin to write things down more in a diary, and then I can rememb er things more and know where things are. When writing things down it makes everything more high-octane and you will always have evidence to go back to and show specific dates. As an enterpriser it good to remember dates when you started a new idea, what day your new stock arrives etc.TrainingTo improve my management and I.T skills I will need some training and experience, as I.T skills you have to learn because there is a lot to computing, and technology is improving, so it is ggod to be update with I.Tskills. Also as I am release to be running my own business I need to learn how to manage a larger group of people, larger amount of money and documents. MentorA mentor will be a lot of help, someone who is older than me that can give me some tips on how to run a and manage a business, someone that can support you and teach you what to do and what not to do, as they have had experience and training to do this.Threats- New technology As technology is advancing all the time, and to stay up to date with all the necessary technology, a lot of money needs to be spent, even starting up the business I would need to buy a lot of technology, such(prenominal)(prenominal) as computers for the tills, CCTV cameras, TV screens and iPads for attraction and grocery storeing.CompetitionAnother threat is my competition, greathearted stores worldwide such as JD Sport, Footlocker and Schuh as they are much bigger stores and more known to the public, those places will be the first choice, however our store will appeal to more unique individuals.Recession A recession is a very big threat because if there is a recession, then the prices will have to go up and the customers will find it difficult to do some shopping, employers could even demand a higher salary due to prices of everything else going out.Personal development plan Skills The ability to do a certain labour swell up, something that is learnt to perfection with a lot of practice. Attributes A quality, property or cha racteristics of mortal or something, it is not something you gain. Skills I need to manage my business properly Type of skill Why is this relevant to the business? Are you efficient in this skill? Yes/No Explain why? How can I intend to develop this skill Good CommunicationGood communication is very important in a business, as you will need to speak to the customers, to find out what they like and need when doing market research. When a business has good customer divine services customers all feel likely obligated to come back because the get treated so well, mitigate that our competition, communication skills is not only essential with consumers but alike with the mental faculty, good communication with your staff will make the business flow very well a staff will be more confidence in what they do because there has been an established understanding, YesMore experience can develop these skills, more disturb with customers in a work place will defiantly enkindle my communica tion skills Presenting SkillsThe ability to present an idea to a group of people is very important it can take you from a small business to a worldwide business so it is important not on to have good presenting skills but to have good persuasive skills also. YesManagement SkillsManagement skills are relevant in a business, are I am going to be the manager of the business I need to be able to run he business to success. I also need to know how to organise a business, hire people and make the right decisions and when he wrong decisions are do how to recover and get better. No, because I have never been a manager, hover I have been a team leader so I just need more training and experience. Training, Experience and Mentoring, all these things will help me to become a better manger. Book-keeping and accountancyThis is relevant to run my business, as I need to keep get over of everything that is going on in the business, so that there is always evidence, also accounting skills are relev ant just to make sure that everything is running well in the business and not relying on an accountant, which is a lot of cash loss, and even if an account is hired it is always good to twicecheck.No, as I am not used to book keeping, also I have only just started an accounting course and need more experience in that subject. Read more financial books, and get used to writing things down in a diary all the time.Attributes I need to manage my business properly Type of portion Why is this relevant to the business? Are you competent in this refer? Yes/No Explain why? How can I intend to develop this attribute Good personalityA good personality is one of my best attributes I have a positive attitude in everything I do, I am never negative is anything that I do, never accept unsuccessful person and never give up, do everything to the best of my ability. YesAlways keep a positive mind and always keep organised, do not let things overload, mount up and stress outCommitmentThis is imp ortant because it is never good to give up, always give 100% in running a business, and give all time and dedication to make it work. Give everything you need to make it work, if it fails assay again, have a lot of persistence and put in a lot of hard work, to make your business successful. YesBalancing Responsibilities beingness able to do this will keep the business running smoothly and keeping everything on track, balancing responsibilities I will be able to have a personal life away from my business organizationer life and be able to care of them both and not one more attention than the other. No, because Im not very good a balancing my prioritiesLean to graceful deadlines and know when its time to work and play. self-assuranceIt is important to be confident(p) when running a business, as drastic decisions need to be made and if there is no confidence the decisions will not be made. Confidence is needed to present well and to make changes in the business, No, I am not used t o standing up in front of big crowdsDo more training in leadership, and aim for higher roles such as class president or vice president.What Makes a Good enterpriser?The terms enterpriser, manager and owner are very much in meaning yet exhibit antithetic representations of business people who are present at the top management. Entrepreneur is a person who sets up a new organization or enterprise and accounts for accountability on his part of the risks that could come onto his shoulders for one reason or the other. When the discussion is of the for- gain organizations, the entrepreneur term replaces itself with founder.(Versi, 1999) This person is responsible for establishing a new entity or unit so that the establishment could provide an existing product or service into the form of a single new market, which could have a profit or non-profit result. The entrepreneurs have strong insights as regards to the opportunities that exist inside the market and the threats that come as a re sult of the very same. The risks that could arise in the wake of these include personal, financial or professional ones so that prospect could be grabbed with both hands.(Martin, 1997) In different societies, the business entrepreneurs are regarded as the pivotal components of a social order. (Covin, 1999) Entrepreneur manages and runs an organization and manages the different undertakings of the enterprise. This enterprise could be a business which is normally associated with peculiar initiatives and foreseeable risks. An entrepreneur is also an employer of productive work or in other quarrel of labor. He is also the contractor who deals with or initiates the process of entrepreneurship.The entrepreneur is the person who is responsible for running the system which is in place in a normal process. He is the one who organizes the whole process. Entrepreneur creates or sells a product and/or service so that he could earn a considerable profit/benefit. The entrepreneur is the risk be arer and an organizer within the business enterprise. More than anything else, an entrepreneur is a leader by slip definition. An entrepreneur wants to achieve high since his ambitions are always at the top.He is a person who believes in dedication and hard work. (Drucker, 1985) These people like to work for their own selves rather than working for some other business. They believe in quality of work and take acceptance for responsibility which is a stylemark of a true leader. These entrepreneurs believe in a positive procession and give rewards whenever they deem fit. Their thinking is more on the lines of providing excellence towards work and they are good organizers as far as work morality are concerned.They want to make a profit and this profit helps them to happen upon more and more in their passage towards success and achievements. (Ramsay, 2004) Some of the well known entrepreneurs have included names like Ben Cohen of the Ben & Jerrys grump Cream, Elisha Otis related w ith elevators, Ted Turner with the media field, Sam Walton concerned with the departmental stores and at long last Alan Sugar with the science of computers. (Watkins, 1998) Effective entrepreneurs know how to make use of their team members and during this while contribute in their own capacity towards team building.Entrepreneurial force within an organization could be improved if there is a common understanding that the entrepreneurs know their work well and also discern the exact basis for the workers who fall short on the knowledge curve. This would enable them to get the best out of these individuals and turn them into the strengths within the shortest possible time. (Versi, 2006) What spiral of knowledge does is to increase the awareness level of the entrepreneurs when it comes to their working methodologies and the ways and means done which they bring value to the different processes and activities of the organization.(Gannon, 1987)The knowledge organization makes best use of the knowledge that it has and it does not let go on the opportunities which come in its way every now and then. There is a definitive need to outline the salient points which a entrepreneur must know in order to get the work done from the knowledge base and and so the whole of the knowledge organization and it is only when there is a work of knowledge activities and the entrepreneurial stiffness.(Halal, 1996)team building is one of the most significant aspects that come under the functions of an entrepreneur and he needs to make sure that he is the leader for all the activities and tasks that are happening under his vigilant eyes. Team building is all the more important because the entrepreneur needs to take decisions in line with the knowledge that his team can deliver under crunch situations and also because he has to take the company forward all this while.Thus it is imperative on his part to understand that the strengths and weaknesses of the team members are as crucial a nd his requirement takes more ground in this whole compare when a difficult situation crops up. (Hocker, 2001) Thus a good team is only built when the leader (entrepreneur) knows his team members pretty well and turns the weaknesses of different individuals within the team into their strengths and not only that but also in the strength of the team overall.(Harper, 2003)An entrepreneur can only be termed an effective one when he understands his resources and what his team members can possibly do to their level best in those available resources. Only then there is a signified of empathy and understanding amongst the team members and consideration towards the leader of the team which in this guinea pig is the entrepreneur himself. Thus, a good team is developed when there is get it on harmony in the activities of the team members and there is basically a synergy amongst all of them.This synergy can only be encouraged by the team leader, which in this case is through an effective a nd considerate entrepreneur. (El-Amin, 2003) Being labeled as an entrepreneur is a social stigma, more so in the West where the same is attached with social injustice and culpable etiquettes. In addition, being called as an entrepreneur of some business or corporation asks for the person to be termed as a tyrannical convention who is ruling the lives of the employees and workers working under him. Oppression and entrepreneurship thus end up being each others synonyms.On the other hand, being called as an entrepreneur of an enterprise would be looked upon at in a very esteemed and reputable manner within a third world nation. (Economy, 2003) There are differences in the cultural mechanisms so as to speak. A conflict within an organization can take place due to differing personalities of the employees or in their attitudes that lead in their linkage with each other. This could also happen due to their norms and behaviors which might not be liked by any one party (person) and thus l ead to a conflict of thoughts, ideas, actions and eventual behaviors towards each other.There is a degree of power when we speak of the entrepreneur in terms of the same over his subordinate or the employee who is working under him in a direct or an indirect capacity. In the end, it would be proper to state here that if the entrepreneurs are true to their jobs and know what they expect from the workers working under them, then it is duty bound on the part of these employees to be truthful about their work and apprise the entrepreneur as to where they have been lacking and what plus points have thus been achieved.(Rogers, 2001)All said and done it is to the entrepreneur himself as to how best he can walk along the workers on those lines and till what extent he can drag in them but in the name of a genuine organizational gain. A good entrepreneur can only be made if he is respected by one and all. (Milner, 2004)