WHAT SKILLS DO ENTREPRENEURS NEED?

1. Chapter 2 WHAT SKILLS DO ENTREPRENEURS NEED? 2.1 Communication Skills 2.2 Math Skills 2.3 Problem-Solving Skills

2. Chapter 2 Lesson 2.1COMMUNICATION SKILLS • Develop good skills for writing, speaking, and listening. GOALS

3. Chapter 2 WRITING SKILLS • Effective business letters • Effective business memos

4. Chapter 2 RULES FOR WRITING BUSINESS LETTERS 1. Key all formal correspondence. 2. Spell names correctly and have the correct address. 3. Always date your business correspondence. 4. Use names and titles appropriately. 5. Be direct and positive. 6. Be persuasive and specific. 7. Avoid using fancy language. 8. Be polite. 9. Use an appropriate closing. 10. Proofread for spelling and grammatical errors.

5. Chapter 2 SPEAKING SKILLS • Telephone conversations • Meeting with customers and suppliers

6. Chapter 2 TELEPHONE TIPS 1. Speak clearly, and talk directly into the receiver. 2. Be cheerful. 3. Always speak politely. 4. Think about what you are going to say before you make a call. 5. Take notes.

7. Chapter 2 MAKING THE MOST OF PERSONAL CONTACTS 1. Shake hands and make eye contact with the person you are meeting. 2. Show an interest in what the other person is saying. 3. Speak clearly. 4. Do not appear rushed or anxious to be somewhere else. 5. Thank the person at the end of the meeting.

8. Chapter 2 LISTENING SKILLS 1. Focus your attention on the person who is speaking. 2. Think about and try to understand what the other person is saying. 3. Ask questions to make sure you understand what the person is saying. 4. Take notes to confirm what you are hearing.

9. Chapter 2 Lesson 2.2MATH SKILLS • Use basic math skills in business. • Complete sales transactions. • Calculate percentages for business purposes. GOALS

10. Chapter 2 BASIC MATH SKILLS • Addition and subtraction • Multiplication • Averages using division

11. Chapter 2 SALES TRANSACTIONS • Purchase orders and invoices • Sales tax • Sales slips • Managing a cash drawer

12. Cash $348.62 Checks 154.20 + Credit sales 218.98 Chapter 2 BALANCING THE CASH DRAWER Total receipts $721.80 – Refunds 21.47 Adjusted receipts $700.33 – Opening cash 50.00 Actual receipts $650.33

13. Chapter 2 PERCENTAGES • Growth rates • Interest earned • Interest payments • Exact interest method • Ordinary interest method • Markups and markdowns • Discounts • Due dates • Last day for discount

14. Chapter 2 Lesson 2.3PROBLEM-SOLVING SKILLS • Use the six-step problem-solving model. • Recognize the importance of group decision making. GOALS

15. Chapter 2 USE A PROBLEM-SOLVING PROCESS • Define the problem • Gather information • Identify various solutions • Evaluate alternatives and select the best option • Take action • Evaluate the action

16. Chapter 2 GROUP PROBLEM SOLVING • Brainstorming • Consensus-based decision making

17. Chapter 2 BRAINSTORMING • Brainstorming is a creative group problem-solving technique that involves generating a large number of fresh ideas.

18. Chapter 2 CONSENSUS-BASED DECISION MAKING • Consensus is agreement among a group of people.