Notesale: Turn your study into money

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Entrepreneurs
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They are the ones who take the risk of establishing and operating a
business
As per research every successful entrepreneur shows some common
characteristics
o Innovative (helps them to be a standout)
o Hard working (helps them to build something from the scratch)
o Initiator (they don’t procrastinate, the act)
o Perseverance (they bounce back from poor performance)
o Risk taking (yes! They take calculative risk or else business would
not happen at all)
o Multi-skilled (at least initially when there will be less workers)
What motivates such people to start their own business, even in cases
leaving a well-balanced job?
o Independence of decision making
o Profit (NOT salary)
o Self actualization (to own a successful business might mean to
someone that he or she has proved the point of his or her
existence)
o Special skills (if you have mad hairdressing skills why wouldn’t
you open your salon?)
o To follow ethics (a lot of social enterprise exists in the modern
world where the entrepreneur decides profit second, ethics first)
What roles entrepreneurs play when they set up a business
o Finding an idea for the business (new or adapted)
o Investing some own finance and arranging the rest
o Researching the market at least in the basic form to judge
consumers and competitors
o Establishing the business
▪ Selecting a location
▪ Employing people
▪ Buying and/or hiring the necessary capital equipment
o Managing the business
What a person might give up if he or she chooses to do her own business
o A well paid job
o A secured job
o Further education
o Family time
o Own time



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