What is an entrepreneur?

Business Wales/Busnes Cymru
19 Aug 201403:01
EducationalLearning
32 Likes 10 Comments

TLDRThe video script provides advice to aspiring entrepreneurs from current business owners. They emphasize having a positive, creative attitude to spot problems and imagine innovative solutions. Building relationships with customers, employees, and partners is also vital. Finally, organization skills help manage day-to-day operations and systems. While starting a business is challenging, tapping into your imagination, staying positive and friendly, and getting organized sets you up for success.

Takeaways
  • 😊 Having a positive attitude and self-confidence are key to being an entrepreneur
  • 💡 Tap into your creativity and think differently to come up with new ideas
  • 👥 Build strong relationships with customers, employees, partners etc.
  • 🤝 Use your networking and persuasion skills to get things done
  • 📝 Good organization skills are essential - manage finances, admin, planning
  • 😖 There will be highs and lows - be prepared for tough decisions and hard work
  • 🧠 Imagination and a fresh perspective can help you solve problems
  • 👍 Ask friends, family and professionals for help and advice
  • ✨ Starting a business is an exciting adventure and learning experience
  • 👑 As an entrepreneur, you have the power to determine your own success
Q & A

  • What are the four key words that summarize the skills and attitudes entrepreneurs need?

    -The four key words are: Attitude, Creativity, Relationships, and Organisation.

  • Why is having a positive attitude important for entrepreneurs?

    -Having a positive attitude helps entrepreneurs persevere when things are not going well. It gives them confidence in their ideas and belief in themselves to see things through.

  • How can entrepreneurs tap into their creativity?

    -Entrepreneurs can tap into their creativity by looking at things with fresh eyes, thinking a bit differently, and imagining how something could be improved. This helps them come up with new ideas and innovations.

  • Why are relationships important for entrepreneurs?

    -Relationships are essential for entrepreneurs' success. Having good relationships with customers, employees, suppliers etc. makes it easier to get things done and use powers of persuasion.

  • Why do entrepreneurs need good organization skills?

    -Good organization skills help entrepreneurs effectively manage the day-to-day operations of running a business - from finances and paperwork to planning and systems.

  • What are some of the things entrepreneurs need organizational skills for?

    -Entrepreneurs need organization skills for things like: raising finance, managing money, dealing with taxes, setting up IT systems, record keeping, planning, and more.

  • What are some of the highs and lows entrepreneurs face?

    -Some highs entrepreneurs can face are coming up with a great new idea, making their first big sale. Some lows are tough decisions, things not going to plan, financial struggles.

  • How can entrepreneurs get help in starting their business?

    -Entrepreneurs can get help from friends, family, colleagues and professionals along the way. They don't have to do everything alone.

  • What website provides inspiration and information on becoming an entrepreneur in Wales?

    -The website Big Ideas Wales provides inspiration and information on becoming an entrepreneur in Wales.

  • What are the keys to success as an entrepreneur?

    -Keys to success are: tapping into your imagination and creativity, having a positive attitude, building relationships, staying organized, and working hard.

Outlines
00:00
😊 Defining Entrepreneurs Through 4 Key Traits

Paragraph 1 defines an entrepreneur as someone who starts a new business. It states that the 4 most important traits for entrepreneurs are: Having a positive attitude and determination; Being creative and solving problems differently; Building relationships and networking; Being organized in areas like financing, accounting, systems.

Mindmap
Keywords
💡entrepreneur
An entrepreneur is someone who starts their own business. As stated in the video, it's 'a fancy word for someone who starts a new business'. Entrepreneurs identify opportunities and ideas for new products or services and then take the risks involved with creating a startup to pursue them. The video aims to provide guidance and advice for aspiring young entrepreneurs in Wales.
💡attitude
Having the right entrepreneurial attitude involves being confident in your ideas, believing in yourself, and persevering even when facing challenges. As one entrepreneur in the video states, 'Having a positive attitude will get you a long way, even when sometimes things are not going the way you’d like them to!'. A positive, determined attitude helps entrepreneurs succeed.
💡creativity
Creativity refers to the ability to generate novel ideas and solutions. Entrepreneurs apply creativity to identify unmet needs in the marketplace and design innovative products, services or business models. As described in the video, creativity means 'look[ing] at something with a fresh pair of eyes' and 'think[ing] a bit differently' to come up with a 'brilliant new idea'.
💡relationships
Building strong relationships is crucial for entrepreneurial success. As the video states, 'Having a good relationship with your customers, employees, suppliers, partners and other businesses is essential for success.'. Entrepreneurs need to network extensively and leverage interpersonal skills to acquire resources, talent and traction.
💡organisation
Being well-organized in areas like financial management, planning, and administrative systems enables smooth day-to-day business operations. The video emphasizes that 'good organisation skills are essential' for entrepreneurs to 'get to grips with' running a company. This can require getting help from professionals.
💡finance
Finance refers to money and funds required for starting and operating a new business. Entrepreneurs need organizational skills to effectively 'raise finance' and 'manage [their] money' through financial planning, accounting, etc. Lack of access to capital is a common challenge they face.
💡perseverance
Perseverance is about persisting in pursuing goals despite difficulties, obstacles or delays in progress. As the video states, entrepreneurs need 'determination to see things through' when 'sometimes things are not going the way you’d like them to!'.
💡hard work
Starting a business involves extensive 'hard work' across various functions like product development, marketing, customer service, etc. The video acknowledges that the entrepreneurial journey has 'some highs, some lows' and entails 'a lot of hard work'.
💡problem solving
Key part of entrepreneurship involves using creativity and insight to solve problems by improving existing solutions or designing new products and services. As the video states, 'think of [creativity] as solving a problem' by looking afresh at needs.
💡passion
Successful entrepreneurs are intrinsically motivated by a passion for their ideas, solutions and ventures. This passion drives them to fully commit and persist despite hurdles faced. Though not directly referenced, passion is an underlying theme in video's call to tap one's imagination and believe in one's ideas.
Highlights

Having a positive attitude will get you a long way even when things are not going the way you’d like them to!

Be confident in your ideas, believe in yourself and persevere.

It’s your determination to see things through that will make things happen,

All you need is a little imagination, look at something with a fresh pair of eyes, think a bit differently and BINGO you’ve done it, you’ve just come up with a brilliant new idea.

So, take a look around and ask yourself, how could I make that just that bit better - tap in to that brilliant imagination that you have and off you go!

Having a good relationship with your customers, employees, suppliers, partners and other businesses is essential for success.

Be willing to talk to everyone and listen to what they have to say.

The more people you know the easier it will be for you to use your powers of persuasion and get things done!

To get to grips with the day-to-day running of a business, good organisation skills are essential.

You will need to understand how to raise finance, manage your money and deal with tax.

You’ll need to set up systems to make your business tick, from IT systems to planning and record keeping.

The more organised you are the smoother things will run!

Starting a business is an exiting adventure full of new experiences, with some highs, some lows, some tough decisions and a lot of hard work!

But as an entrepreneur the power’s in your hands, just tap into that imagination of yours, be positive, be friendly, be organised and you’ll surely be very successful!

For inspiration and information on becoming Wales’ next young entrepreneur visit Big Ideas Wales.

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