Entrepreneurship Skills

1069 Words 5 Pages
Entrepreneurship is more than creating a business or new venture, it is the way to gather opportunities, take risks, make decisions, and decide what to do? How to do? How much should be produced? (Frederick, O’Connor, Kuratko 2013, p. 6). They emphasized, in the same book, that entrepreneurship is the sign of business coherence accomplishment, and the entrepreneurs are the forerunners of the business success. Also they mentioned that, the entrepreneurs seek for opportunities, their boost to create and innovate new ideas to the market.

Based on the above citations, there are several factors that lead to the success of the entrepreneurs:
① Have the courage and be ready to take the action
The actions are the things that will lead to the success
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Also, the knowledge will raise the business efforts and will drive different business possibilities.
Entrepreneurship skills
Each venture will require specific entrepreneurial skills that, crucial for the business success. Furthermore, the knowledge and skills are complementary to each other.
④ Intelligence
The entrepreneurs must have sufficient intelligence to manage the business situation, problems phasing it & issues associated with it. As the intelligence brings uniqueness and distinction to the business, it cannot be copied by others.
⑤ Experience
Sometimes it’s not important to have experience to be able to run new business, however it will generate the business energy since the entrepreneurs have to utilize the experience they have in the business they are willing to start.
⑥ Relationships and connections
The more the relationships and connections, the more the possibility of successful business.
⑦ Talent
The talent is something born with the person, it doesn’t have to be one of the entrepreneurial conditions, the entrepreneurs can replace talent with skills and knowledge they have.
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The entrepreneur must be conversant with all aspects of the business, market & industry. Also, avoid lessening to others, especially when your plan is, entirely, new. They, always, pretend to have experience that will, in some cases, lead to failure. As a result it will be hard to criticize yourself and, also, encourage but you have to. In fact, the entrepreneurs will, always, be on the edge, as they never know everything and they must go forward. They have to show and prove the concept of their business, the methods, and their rivals. They must turn out and continue moving to meet their targets.

Likewise, the entrepreneurs should provide suitable jobs, worthy and valuable suppliers to customers, give benefits to society, good customers to their suppliers and a deserved users of the capital provided by their investors. Also, the entrepreneur and his team should follow up several steps to be able to build a successful team
① The set of missions have to be clearly defined and understood by everyone
② The members have to be positive thinkers.
③ Self-confident and with self-respect to respect other members.
④ Trust other members motives.

Generally, the good entrepreneur team starts with sharing

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