Entrep Chapter 1: Should You Become an Entrepreneur? Set #2: SLTs (11) (C.V)

Describe how one of the entrepreneurs discussed above recognized an opportunity to develop a successful business.

The entrepreneur that had recognized the opportunity to be successful would be Oprah Winfrey. She made sure that she did everything possible to make people want to watch her and allow for her business to grow. This would make her more successful so in the long run, the business would grow.

What are the six steps in the problem-solving process?

The six steps are to define the problem, gather information, identify the various solutions, evaluate the alternatives, and select the best solution, to take action, and finally evaluate the action.

Describe different types of entrepreneurial businesses.

There are generally four different types of them which would be small businesses, scalable startups, large companies, and social entrepreneurs. They all try to make business by selling products to customers that they know they will want.

Where do new ideas for businesses come from?

They come from hobbies and interests, past experiences, and the discovery and invention in the creator's minds before becoming entrepreneurs.

Name three important characteristics of entrepreneurs.

Three important characteristics of entrepreneurs are to be independent, self-oriented, and up to date with technology.

Why are financial goals important? Name some nonfinancial goals an entrepreneur might have.

Financial goals are important because it determines how much money you will gain when starting a business and this will determine if it is worth it and if you'll gain success from this opportunity. Some non-financial goals an entrepreneur might have would be trying to make sure their business looks suitable for their personal needs.

Why is it important for entrepreneurs to be good team members?

It is important for them to be good team members because the better they get along with the team members it will help out their business and keep it up and running.

What characteristics do you have that are best suited to entrepreneurship?

Some characteristics that I have would be I am a good team worker and I am very creative and that will make it easier for me to be successful.

What factors contributed to helping a business succeed?

Some factors that contributed to the success of a business are they plan out what they are going to do and who they are going to sell to so they know the outcome of it and it gives them a better chance in having a successful business.

How can you find about various business opportunities?

You can go investigate to find different trade shows that show you what other entrepreneurs are doing and what they are thinking about their business so you can also try to get an opportunity.

How can you improve your problem-solving skills?

You can try to improve your mistakes by listening to what others are saying and their advice to you. If you can learn that you'll make mistakes it'll make it better and you will be a good entrepreneur.