Having certain skills or attributes increases an entrepreneur’s chances of making their business successful.
Attribute – Attributes are something that you naturally have
Skill – Skills are things that you can learn
Entrepreneurs will typically have the following attributes or skills:
| Attributes (feature or quality belonging to someone) – independence – confidence – self-starting – self-reflective – determination – decision-making – risk-taking | Skills (you can practice these over time) – financial – communication – management – sales – IT – timekeeping |
Entrepreneurs may be inventive or innovative.
Invention – the creation of new ideas.
Innovation – the application of new inventions into marketable products or services.
Invention means creating new products or designs that people want to purchase. Innovation means introducing them to a marketplace.
Example: Apple innovates each year with a new iPhone, whereas Thomas Edison invented the light bulb!
Task
Research – carry out some research into an entrepreneur of your choice.
Create a presentation which covers the following points:
- What was their motivation?
- What skills and attributes do they possess that have helped them to succeed as an entrepreneur?
- What challenges did they face?