brennaz
I have chosen to investigate the question ‘which of the qualities shown by an entrepreneur has most contributed to the success of their business?’ An entrepreneur is a person who sets up a business, taking on financial risks in the hope of profit. Entrepreneurs need a lot of qualities in order to succeed in a business. An entrepreneur needs to be determined, persuasive, he also needs to use his initiative, be a good leader, a good decision maker and a good risk taker.
I chose to use ‘mannamead newsagents’ as the business I wanted to investigate. Mannamead Newsagents is a successful corner shop in Compton, Plymouth. They make money through a variety of ways such as selling food and drink, but the main way they make money is by selling newspapers. They hire 30 paper boys at a time, who individually deliver an average of 45 papers every morning.
The owner of this shop is Graham Lamm, a willing worker who is always happy to lend a helping hand and to make quick decisions, the workers at the shop say he is always happy and keeps the mood upbeat by making cups of tea often for the workers and allowing workers to have free food from the shop on certain occasions such as birthdays.
The different entrepreneurial skills a business owner such as Graham needs are as listed:
Determination - http://dictionary.reference.com/browse/determination
Leadership - http://hbr.org/2004/01/what-makes-a-leader/ar/1
Risk Taker - An individual or business that tends to behave in a way that can potentially cause physical harm or financial loss, but might also present an opportunity for a rewarding outcome. Most business types that thrive on innovation will encourage a risk taker mentality among management to help support the creative process in other staff members. (Source: http://www.businessdictionary.com/definition/risk-taker.html)
Graham Lamm used great leadership skills in order to succeed in his business. He did this by motivating staff on a regular
I chose to use ‘mannamead newsagents’ as the business I wanted to investigate. Mannamead Newsagents is a successful corner shop in Compton, Plymouth. They make money through a variety of ways such as selling food and drink, but the main way they make money is by selling newspapers. They hire 30 paper boys at a time, who individually deliver an average of 45 papers every morning.
The owner of this shop is Graham Lamm, a willing worker who is always happy to lend a helping hand and to make quick decisions, the workers at the shop say he is always happy and keeps the mood upbeat by making cups of tea often for the workers and allowing workers to have free food from the shop on certain occasions such as birthdays.
The different entrepreneurial skills a business owner such as Graham needs are as listed:
Determination - http://dictionary.reference.com/browse/determination
Leadership - http://hbr.org/2004/01/what-makes-a-leader/ar/1
Risk Taker - An individual or business that tends to behave in a way that can potentially cause physical harm or financial loss, but might also present an opportunity for a rewarding outcome. Most business types that thrive on innovation will encourage a risk taker mentality among management to help support the creative process in other staff members. (Source: http://www.businessdictionary.com/definition/risk-taker.html)
Graham Lamm used great leadership skills in order to succeed in his business. He did this by motivating staff on a regular