| A | B |
|---|
| Entrepreneur | An individual who undertakes the risk associated with creating, organizing, and owning a business. |
| Entrepreneurship | The process of starting and operating one's own business. |
| Venture | A business undertaking involving risk. |
| Small business | Sometimes referred to as "mom and pop" businesses. Generally started to create jobs for the owners. |
| Mission Statement | A written description of the purpose of a company and the management’s philosophy (one or two brief paragraphs). |
| Opportunity | An idea that has commercial value. |
| Manager | An employee who coordinates people, processes, and other resources of a business in order for the business to achieve success and make a profit. |
| Persistent | Entrepreneurs work until a job is done. They are determined to overcome problems and to pursue their goals in order to make their business successful. |
| Creative | Entrepreneurs are constantly looking for new ways to solve problems. |
| Responsible | An entrepreneur is accountable for his/her actions and does what is required. |
| Inquisitive | Entrepreneurs are curious about things that may affect their business. They are not afraid to ask questions or to conduct research in order to solve problems. |
| Goal-oriented | Entrepreneurs develop a plan of action and must make decisions to help achieve that plan. |
| Independent | Entrepreneurs want to make their own decisions. They set their own schedules and are able to work without supervision. |
| Self-demanding | Entrepreneurs set high expectations of themselves and strive to meet those expectations. |
| Self-confident | Entrepreneurs believe in themselves. |
| Risk-takers | Entrepreneurs look for challenging opportunities. They are not afraid to take risks. |
| Action-oriented | Entrepreneurs are "doers." They make decisions and act on those decisions. |
| Communication skills | Entrepreneurs need effective communication skills in order to gather the information necessary to organize and run their business. Entrepreneurs must develop writing, speaking, and listening skills. |
| Human relations skills | It is essential that entrepreneurs be able to get along with others and enjoy meeting and talking to people. |
| Math skills | Basic arithmetic and knowledge of basic record keeping are needed for the entrepreneur to make purchase decisions, calculate profit, and complete financial statements. |
| Problem-solving and decision-making skills | Entrepreneurs must make decisions and solve problems every day. |
| Technical skills | Computer skills are essential in almost every business. The use of word-processing, spreadsheets, databases, and email will enhance the operation of most businesses. |
| Basic business skills | Entrepreneurs must have a basic understanding of how the economy works and of the fundamental concepts of finance, marketing, and management in order to help ensure the success of their business. |
