Enterprise Skills

Enterprise Skills Prepared by Rachel Farrell

Skill • Is something that you learn over time with plenty of practice. • e.g. reading, writing, listening, communicating…..

Enterprise • Is the human ability to be innovative and proactive in life. • When you are willing to do something new & challenging with the possible risk of failure. • An enterprising person is dynamic, hardworking and motivated.

You can be enterprising in: • Home: DIY home improvements • Leisure: do a sponsored walk • School: Greenschools, mini-company, fundraising • Community: Tidy Towns • Government: Create jobs, reduce waste • Work: Intrapreneurship, good customer care • Business: new ideas, problem solving

Enterprise Skills • Motivated • Independent • Innovative/creative • Confident • Risk Taker • Decisive • Realistic

1. Motivated • Will push themselves to achieve their goals. • They are determined to do well. • They thrive on the challenge to succeed. e.g. When Mary was made redundant she decided to start her own business.

2. Independent • Entrepreneurs like to be in charge/control of the situation. • They like working for themselves. • The don’t like being told what to do. • The can rely on themselves and don’t need other people to motivate them.

3. Innovative/creative • Ent are good at thinking of new ideas. • They are creative and constantly looking for ways to improve their business. • They can spot an opportunity (gap) in the market and fill the niche.

They think outside the box. • They have a vision for the future. • e.g. Anita Roddick set up the Body Shop as she felt there was a need for cosmetics not tested on animals. • She also pioneered Fair Trade.

4. Confident • They have a strong sense of self-belief and conviction about their own business idea. • They have a high self-image. • They are positive in their approach to business looking for solutions rather than problems. • This all helps them to convince investors.

5. Risk Taker • They are not afraid to take a personal and financial chance in their business. • They are not afraid of failure. • They take “calculated risks”. • High risks = high return • Low risk = low return • e.g. Richard Branson competing against Coke with Virgin Cola.

6. Decisive • They have the ability to make quick & clear decisions so as not to miss a business opportunity. • They don’t keep changing their mind. • They take full responsibility for the actions & decisions they make. • e.g. Eddie Rocket deciding to expand through franchising.

6. Decisive • Entrepreneurs learn how to make good choices rationally & quickly as follows; • Analyse the problem or opportunity. • List all possible solutions. • Go through advantages & disadvantages of each. • Pick the solution with the most advantages.

7. Realistic • Entrepreneurs see situations as they really are and not as they might like them to be. • They realise when things are going wrong and do not fool themselves into thinking otherwise.

Recap and Review • What is a skill? • In what ways and in what situations can a person be enterprising? • List and explain the skills of an enterprising person

Enterprise Skills