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  • Entrepreneurs are Open-Minded

     

    Entrepreneurs understand that every circumstances and situations are business opportunity. These business opportunities will lead to constant flow of business Ideas. They utilize these ideas to improve overall business activities. They are always finding new ways through reading and researching to make the business better. Entrepreneurs are open to change. They always adjust themselves to the changing or new situations.

    Open-Minded

     The ability to be ready to entertain new ideas

    Understanding Open-Minded

    You are open-minded if you:
    • Accept new suggestions, comments and questions
    • Are able to look and recognize your environment
    • Are always in search of new ideas and innovation
    • Are familiar with your surrounding
    • Are full of motivation and flexible enough
    • Are open to learn new  and more skills
    • Have broad looking perspective
    • Have flexible mind adaptable to various situations
    • Make decisions based on sufficient knowledge
    • Ready to consider and receive new ideas

    Developing Open-Mind

    You can develop Open-Mind skill if you:
    • Are able to observe, read and listen
    • Gather and utilize suggestions from :Ready to accept new ideas
      • Employees
      • Family
      • Friends
      • Suppliers
      • Competitors
    • Include better ideas into your business dealings
    • Include better ideas into your personal dealings
    • Seek new experiences and adventures
    •  Search  new idea    from:
      • Books
      • Magazines
      • Videos
      • Audiotapes
      • Newsletters
      • Trade literature
      • The Internet
      • Meetings
      • Seminars
      • Courses
    • Guard yourself against being unchangeable
    • Open to change yourself and the business
    • Allow ideas simply to pass through
    • Adapt to latest technology and information
    • Are able to sense and gather opportunities

     

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  • Entrepreneurs are Self- Starter

    Entrepreneurs know that if something needs to be done, they start it themselves. They set guidelines and make sure that the task should follow that path. Entrepreneurs do not wait for good conditions to start with rather they make conditions good by self starting.

    Self-Starter
    An individual with the initiative and motivation to start and work without needing assistance or supervision.

    Understanding Self- Starter
    As a Self-Starter you are:
    • Practical and realistic person
    • Not waiting to get permission to do your job
    • Not waiting guidance from somebody else
    • Energetic person to start with passion
    • Ready for actions and achievement
    • Having initiative and motivation to work
    • Not in need help or supervision

    Tip on Self-Starter
    If you wait for perfect conditions you will never get anything done.

    Quote on Self-Starter
    What is not started will never get finished.

    Johann Wolfgang von Goethe

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  • Understanding Entrepreneurs

    Successful entrepreneurs act as liaison between raw materials, skill, capital and labor. They change the natural resources in to goods and services which are vital for human being. Entrepreneurs are big dreamers whose dreams come true through hard work. They are straightforward business persons. Their concern is all about doing business. Entrepreneurs are also the engine of industrialization.

    As an entrepreneur you understand entrepreneurs by considering the following key points.

    Entrepreneurs are those who:

    • Are visionary at the start of a business

    • Contribute to the creation of enterprises

    • Create something new from scratch

    • Often assume risks in doing business

    • Generate long lasting income and profit

    • Generate employment opportunities

    • Go out of usual way to realize their dream

    • Have their own means of doing business

    • Learn new skills in their activities

    • Make and help in the creation of wealth

    • Make social value products and services

    • Organize and manage a business venture

    • Start businesses from business idea

    • Think with inspiration and determination

    The importance of entrepreneurs’ task has been recognized long period of time. The word entrepreneur is used by many scholars bearing in mind the various aspects and activities of entrepreneurs’.

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  • Innovation by Entrepreneurs

    Entrepreneurs are individuals who change the world through invention and innovation. Invention and innovation make new or existing things with added value where there are potential markets. Entrepreneurs change problems and risks in to opportunities and final products. They also have the abilities to overcome difficulties that would hamper many people.

    Innovation of changes started by Entrepreneurs

    This is the advancement of modifications launched by entrepreneurs which include the following:

    1. Initial Project

    • New environment-friendly or Eco-friendly task and manufacturing of goods

    2. Expansion of the Project

    • Succeeding modifications and developments in the amount of items created

    3. Factors Innovation

    Increase in supply or performance of elements of production. It includes the following:

    • Financial- Procurement of capital resources from new supply or new in kind.
    • Labor- finding of labor from new source or in new type; upgrading of an existing labor.
    • Material-Procurement of old product from brand-new resource or usage of brand-new material.

    4. Production Innovation

    Modification or Adjustments in the manufacturing procedure or process. Includes:

    • Technological - introducing of brand-new production methods. Worth addition to an already existing product.
    • Organizational - adjustment of type or structure or connections among people.

    5. Market Innovation

    Changes in the size or make-up of the marketplace; which includes:

    • Product-production of new item or change in quality or reducing price of an existing product.
    • Market-penetrate in to new marketplace.

     

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