Summary
Summary Legal Forms of Business
- Course
- Business Studies
- Institution
- MacEwan University ( )
Summary of lecture 4 classnote, Legal Forms of Business
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Legal Forms of BusinessThere are three basic forms of business. Being an entrepreneur requires specific
skills. While some skills come naturally, others can be learned or developed
through careful practice. Understanding the qualities needed to be an entrepreneur
can help you become a better business leader.
What are the characteristics of an entrepreneur?
Entrepreneurial traits are the traits that help the entrepreneur achieve his goals. An
entrepreneur is someone who starts, organizes and manages their own business. In
any case, being an entrepreneur means proposing new ideas, implementing them
and consistently meeting challenges. Some entrepreneurial qualities are natural
personality traits, but there are also skills and traits that you can hone with practice.
Entrepreneurial qualities you can develop
Here are 15 traits to becoming a successful entrepreneur:
• Creativity
• Assignment
• Motivation
• Knowledge of products or services
,• Network capacity
• Trust
• Optimism
• Vision
• Goal orientation
• Willingness to take risks
• Power of persuasion
• Take a decision
• Tenacity
• Money management
• Adaptability
1. Creativity
Becoming an entrepreneur starts with an idea. They need to see opportunities, find
innovative ways of doing things, and present solutions to the public. To enhance
your creativity, develop habits that support the creative system. Think about what
makes you feel creative, like music, meeting people, reading or any other activity.
, Spend a specific part of your day inspiring new solutions. During this part of the
day, start doing what inspires you and let your mind wander. You can make a list
of ideas and select a few to pursue. Creativity produces something new. Because
without creativity there is no innovation. Entrepreneurs usually have a knack for
identifying many ideas and acting accordingly. Not necessarily all ideas can be
successful. But experience is gold. Creativity helps to find new solutions to the
problems to be solved and allows to find suitable solutions. It also gives an
entrepreneur the ability to design new products for markets similar to those in
which he currently operates.
2. Passion
Passion is what drives entrepreneurs. They often love what they do and this helps
them invest time in their projects. To become a more passionate entrepreneur,
focus on the meaning of your work. Remember that you are helping to find a
solution that can help many people. Knowing that your effort is having an impact
can give you the incentive to move forward when doubts arise or things get tough.
Passion keeps you focused on your goals. Your job should be your passion. So
when you work, love what you do and stay highly motivated. Passion works as a
motivator, so you are motivated to improve. It also allows you to work overtime in
the office, which can or could make a difference. There are obstacles in starting a
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