Question

List and describe the five entrepreneurial skills essential for building an entrepreneurial mindset.

Answer 1

Answer:

List and describe the five entrepreneurial skills essential for building an entrepreneurial mindset.

The person who begins a business on his own without having any background of family business is known as entrepreneur. They take the risk of investing in business. The skills required to develop an entrepreneurial mindset are:

a) Ability to take risk: A person who is willing to put money, time and resources at stake in order to start his/her business will be able to become an entrepreneur.

b) Ambition: The entrepreneur has to be ambitious and willing to work hard for achieving the dream of starting their own business.

c) Hardworking: The entrepreneur needs to work tirelessly to ensure that the business is able to achieve the goal that it has set.

d) Networking: A person with good networking skills will only be able to start a business of his own. This is because there are many things that will be needed to start the business. A proper network will help in contacting the right persons for setting up the business.

e) Good researcher: The entrepreneur has to be good at understanding the needs and requirements of the customers in the market. If the right product or service is designed for the market then the company will be successful. Thus, good research is essential to get the peefect entrepreneurial idea.