Edexcel Business A Level Year 1: Including AS by Ian Marcousé Andy Hammond & Nigel Watson

Author:Ian Marcousé, Andy Hammond & Nigel Watson [Marcousé, Ian; Hammond, Andy; Watson, Nigel]
Language: eng
Format: epub
ISBN: 978-1-4718-4777-6
Publisher: Hodder Education
Published: 2015-03-18T16:00:00+00:00

24.3 Skills required to be a successful entrepreneur

Whereas characteristics are part of what we are born with, skills can be learned. They range from skills with finance to skills at dealing with people. They include:

• financial skills, including the ability to read and understand key documents, such as a cash flow forecast

• persuasive abilities – entrepreneurs need to persuade others to do things like provide planning permission, supply goods on credit or work harder/faster to get things completed on time; they also may need to persuade staff to take a chance by joining a brand new, risky venture

• problem-solving skills, perhaps based on the ability to investigate possible causes and then to work out the most satisfactory solution

• networking skills: to be able to turn acquaintances into business friends and therefore benefit from network-based crowdfunding or social media endorsement.

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