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Skills of Entrepreneurs

TermDefinition
Inner Control This is the skill of taking charge of your own situation. This means that a person must be proactive or be prepared to take the initiative and act themselves rather than wait for others to do things for them.
Planning and setting goals This is the skill of setting short and long term goals or objectives. It involves carry out a SWOT analysis.
Assessing and managing risk This is the skill of gathering as much information as possible about uncertain situations and minimising these risks, eliminating them where possible.
Innovation This is the skill of applying ideas which may be new or borrowed to situations where they have not been applied before.
Decision making This means choosing between alternative courses of action.
Time management This skill involves the effective use of time available so that all necessary tasks are completed. It involves quantifying of tasks, delegation of task, strict monitoring and great discipline from everyone.
Human Relations This is the skill of being able to get on well with people, interacting and relating to them, being sensitive to the needs of people and looking after the well-being of the workforce.
Communication This is the skill of speaking, listening and writing. Entrepreneurs must communicate well with all the parties in business and be able to get their ideas across to others.
Stress management An entrepreneur must be able to cope with pressure and must be able to recognise the causes of stress and come up with personal strategies for reducing stress.
Reality Perception This is the skill of seeing each situation as it really is, not as you would like it to be.
Networking Establishing business contacts and communication links with people whose knowledge and expertise might prove useful.
Created by: bccns business
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