Is this a homework question?Go become a Newpreneur.
I m answering this from hard knocks experience:1. identify four personality characteristics than an entrepreneur might have.* Determination and discipline. being able to work when you don t want to sometimes for long hours* Be a people person. Your customers, vendors and employees are all, obviously, people. You need to know how to deal with them on different levels and at different times.* Be able to say I need help . In the beginning you can definitely get in over your head if your business takes off faster than expected. For me, I readed my 1st years sales goals in the first 3 months. Things ebbed and flowed financially. I never asked for help, thought I could handle it all on my own. I was wrong.* Confidence. Without it, you and your business will not succeed, let alone, get off the ground.2. Explain two sources of competitive advantage that small businesses have.* Small business are small, nimble, and able to change and adapt easily unlike most largest businesses/corporations.* Many times small businesses, through alliances, can underprices larger companies and offer personal -- real people -- experiences to their customers that large corporations can only dream of.3. Give four reasons why people set up their own businesses.* I d like to say the 4 reasons are MONEY MONEY MONEY AND MONEY. If you re not in it for the money then why are you in it?4. What help do banks provide to new business start-ups?* In these economic times, banks provide very little to most new business start-ups. They want to see on paper, not only your business plans, but your prior success and failures... and how you capitalized on those failures, turning them around.5. What help might the government provide to start-ups?* Plenty. From Small Business Administration training programs, which I failed to take advantage of when I first started out 10 years ago, to SBA loans that most banks would not dare extend, for starters.6. Explain three problems a start-up is likely to face.* The economy.* mismanagement and inexperience * lack of planning and lack of a business plan* inability to adapt and survive in this economy.
