ENTREPRENEUR
Your Name (First M. Last)
School or Institution Name (University at Place or Town, State)
Entrepreneur
Introduction
In the contemporary age, the business models are defined by critical entrepreneurship skills and techniques to exercise the learned terminologies. It requires not only a strong command on several business concepts but also the traits to lead and nourish a strategic approach. However, the primary influence on becoming a successful entrepreneur and initiating a potential lies at the very heart of personal skills, competency, traits, and entrepreneurial capacity. To master the art of becoming an inspiring entrepreneur, it is imperative to underpin pivotal keys as a tendency to confront challenges, innovation, and creativity, working in a team and leading with a strategic approach. However, a person can advance to establish critical entrepreneurial skills in their job roles and are not confined to learning it from taking a potential step.
Discussion
To begin, the fundamental aspect I mastered in the course was establishing the strategic decision-making skills. The leading business tycoons and entrepreneurs are an explicit illustration of the significance of following a structured approach while making decisions and advancing to take risks and confronting the challenges. A wide range of experts has stipulated entrepreneurship structure as the willingness to embrace challenges to build a successful business ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"YiORIbul","properties":{"formattedCitation":"(\\uc0\\u8220{}6 steps to becoming more entrepreneurial,\\uc0\\u8221{} n.d.)","plainCitation":"(“6 steps to becoming more entrepreneurial,” n.d.)","noteIndex":0},"citationItems":[{"id":2385,"uris":["http://zotero.org/users/local/H8YOvGFC/items/FNRB5UUE"],"uri":["http://zotero.org/users/local/H8YOvGFC/items/FNRB5UUE"],"itemData":{"id":2385,"type":"webpage","title":"6 steps to becoming more entrepreneurial","container-title":"World Economic Forum","abstract":"A step-by-step guide to bringing entrepreneurial spirit into your life from a lecturer in entrepreneurship.","URL":"https://www.weforum.org/agenda/2016/07/6-steps-to-becoming-more-entrepreneurial/","accessed":{"date-parts":[["2019",4,13]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“6 steps to becoming more entrepreneurial,” n.d.). The apprehension of the essential elements involved in becoming an entrepreneur is of paramount significance. For instance, taking maximum advantage from the available opportunities, comprehending the role of decision making in the contemporary and future business models, learning from mistakes and leading an inspiring team is the defining elements constituting a profound entrepreneur.
Besides key theoretical concepts, I have successfully learned the traits imperative for running a successful business model. Irrefutably, the significance of core theoretical concepts can never be shunned. There exist several other aspects which are keys to strengthening personal competency. Interpersonal skills, practical skills, creative thinking skills, and critical skills are the foremost aspects necessary to shape an inspiring entrepreneur ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"zPgt56Ux","properties":{"formattedCitation":"(\\uc0\\u8220{}Encouraging and Developing the Entrepreneurial Skills of Gabonese Youth,\\uc0\\u8221{} n.d.)","plainCitation":"(“Encouraging and Developing the Entrepreneurial Skills of Gabonese Youth,” n.d.)","noteIndex":0},"citationItems":[{"id":2387,"uris":["http://zotero.org/users/local/H8YOvGFC/items/XTZTTRUP"],"uri":["http://zotero.org/users/local/H8YOvGFC/items/XTZTTRUP"],"itemData":{"id":2387,"type":"webpage","title":"Encouraging and Developing the Entrepreneurial Skills of Gabonese Youth: A Success Story","container-title":"World Bank","abstract":"Several years ago, Gabon decided to diversify its economy, which was overly dependent on commodities, particularly oil.","URL":"http://www.worldbank.org/en/news/feature/2019/01/23/encouraging-and-developing-the-entrepreneurial-skills-of-gabonese-youth-a-success-story","shortTitle":"Encouraging and Developing the Entrepreneurial Skills of Gabonese Youth","language":"en","accessed":{"date-parts":[["2019",4,13]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Encouraging and Developing the Entrepreneurial Skills of Gabonese Youth,” n.d.). I nurture the belief that self-assessment is of paramount significance. The course conveyed the essential techniques and the right mindset which comprise the following intricate aspects: vision, optimism, initiative, risk tolerance, persistence and drive and above all, resilience. Optimism is an asset in true letter and spirits. In the future, it will assist me in harsh circumstances while seeking the appropriate business model which best suits my skills and approach. Besides, a visionary approach underpins the inspiring personality of the leader. For instance, it manifests the tendency of a person to be long-sighted, shaping a compelling vision and leading from the front to inspire others to engage with the vision.
Furthermore, the persistence and resilience ensure the implementation of a sustainable plan and deriving the desired outcomes of that plan. The contemporary state of affairs reflects that the markets have become highly saturated and it is not specified too few niches ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"ixfov2MG","properties":{"formattedCitation":"(Rieple & Chang, 2013)","plainCitation":"(Rieple & Chang, 2013)","noteIndex":0},"citationItems":[{"id":2389,"uris":["http://zotero.org/users/local/H8YOvGFC/items/7JDLCC3I"],"uri":["http://zotero.org/users/local/H8YOvGFC/items/7JDLCC3I"],"itemData":{"id":2389,"type":"article-journal","title":"Assessing students' entrepreneurial skills development in live projects","container-title":"Journal of Small Business and Enterprise Development","page":"225-241","volume":"20","issue":"1","source":"emeraldinsight.com (Atypon)","DOI":"10.1108/14626001311298501","ISSN":"1462-6004","journalAbbreviation":"Jrnl of Small Bus Ente Dev","author":[{"family":"Rieple","given":"Alison"},{"family":"Chang","given":"Jane"}],"issued":{"date-parts":[["2013",2,15]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Rieple & Chang, 2013). I have adhered to the belief that those who progress with resilient and persistent behavior are at an increased chance of manifesting their objectives. However, all these factors are dependent on the notion of taking a potential initiative. The other framework I aspire to highlight is the dire need of cultivating profound interpersonal skills. It is worthwhile to delineate that the regret I have also pertained to the insufficient attention being paid to developing strong interpersonal skills. I critically comprehended their significance but unfortunately struggled to practice them. Great business models are always built by inspiring leaders and strongly motivated teams. The leading organizations and business models demonstrate that their leaders nourish immaculate interpersonal skills. The objectives of motivating others and leading without reluctance lie at the very heart of being equipped with strong interpersonal skills ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"deXsCgHh","properties":{"formattedCitation":"(\\uc0\\u8220{}3.1 Entrepreneurial Skills and Tools - Skills and Strategies,\\uc0\\u8221{} n.d.)","plainCitation":"(“3.1 Entrepreneurial Skills and Tools - Skills and Strategies,” n.d.)","noteIndex":0},"citationItems":[{"id":2391,"uris":["http://zotero.org/users/local/H8YOvGFC/items/AYZJE988"],"uri":["http://zotero.org/users/local/H8YOvGFC/items/AYZJE988"],"itemData":{"id":2391,"type":"webpage","title":"3.1 Entrepreneurial Skills and Tools - Skills and Strategies","container-title":"Coursera","abstract":"Video created by University of California, Irvine for the course \"Essentials of Entrepreneurship: Thinking & Action\". Learn online and earn valuable credentials from top universities like Yale, Michigan, Stanford, and leading companies like ...","URL":"https://www.coursera.org/lecture/entrepreneurial-thinking/3-1-entrepreneurial-skills-and-tools-rHDqN","language":"en","accessed":{"date-parts":[["2019",4,13]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“3.1 Entrepreneurial Skills and Tools - Skills and Strategies,” n.d.). I believe interpersonal skills define the fate and consequences of the actions taken by the business leaders. However, the framework of adhering to the ethical paradigm can never be overlooked pertinent to the interpersonal skills. Truth, integrity, and fairness are the worthy principles necessary to motivate and inspire others. In the absence of these principles, it becomes very challenging to structure an integral and committed team, committed customers and profound suppliers.
Furthermore, planning to present an immaculate business idea and becoming the investor takes a striking sales pitch and systematic business model. If I were an investor, I shall critically focus on the paradigm of presenting myself to the entrepreneur, not only the business idea. Both the entrepreneur ought to collaborate in an integrated and thoughtful manner. Likewise, the other question that intrigues my mind is the presentation than the actual business plan. For instance, how efficiently an investor can convey the essential business plan thoroughly to the entrepreneur plays an instrumental role from the very beginning of the business venture. All of these deliberated strategies are utilized and mastered by inspiring investors in contemporary business models. A critical appraisal of the discussion reveals that becoming a successful investor or an entrepreneur is not dependent on a single variable or approach ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"o2FVCGNG","properties":{"formattedCitation":"(\\uc0\\u8220{}When entrepreneurship training matters most,\\uc0\\u8221{} 2015)","plainCitation":"(“When entrepreneurship training matters most,” 2015)","noteIndex":0},"citationItems":[{"id":2393,"uris":["http://zotero.org/users/local/H8YOvGFC/items/DUZQWECL"],"uri":["http://zotero.org/users/local/H8YOvGFC/items/DUZQWECL"],"itemData":{"id":2393,"type":"webpage","title":"When entrepreneurship training matters most","container-title":"IGC","abstract":"Providing entrepreneurs with business skills to help them grow their firms is important, but one size does not fit all. Policymakers can achieve greater impact by better targeting their training interventions. If you want to help micro and small businesses survive, grow and create employment, building their marketing skills may be a good place to start","URL":"https://www.theigc.org/blog/when-entrepreneurship-training-matters-most/","language":"en-GB","issued":{"date-parts":[["2015",4,20]]},"accessed":{"date-parts":[["2019",4,13]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“When entrepreneurship training matters most,” 2015). Instead, a wide range of essential qualities as strong interpersonal communication, adhering to the ethical framework, establishing a reputation among the employees them, incorporating strategic decision making and taking bold steps and looking in the face of adversities.
Likewise, I believe that the prominent difference an investor would reflect while presenting the business plan, in comparison to my approach, will be dependent on the experience. Since I am inexperienced, the experienced investor will irrefutably gain a competitive advantage. The experienced investor will critically assess the information an entrepreneur possess pertinent to specific market trends. His approach will demonstrate he comprehends the dynamic nature of business models, especially those related to technological innovation. For instance, the investor is bound to be keen to ask the entrepreneur about the changes and innovations arising in the market because of the service or product. It is called a long-sighted approach which I believe only an experienced investor can cultivate. Moreover, the investor may advance to test the competency and nerves of the entrepreneurs by asking them to share their biggest failures and what they have learned from those failures ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"fcNDewTO","properties":{"formattedCitation":"({\\i{}BGP_Entrepreneurship-in-Education.pdf}, n.d.)","plainCitation":"(BGP_Entrepreneurship-in-Education.pdf, n.d.)","noteIndex":0},"citationItems":[{"id":2395,"uris":["http://zotero.org/users/local/H8YOvGFC/items/B932UQ3J"],"uri":["http://zotero.org/users/local/H8YOvGFC/items/B932UQ3J"],"itemData":{"id":2395,"type":"article","title":"BGP_Entrepreneurship-in-Education.pdf","URL":"https://www.oecd.org/cfe/leed/BGP_Entrepreneurship-in-Education.pdf","accessed":{"date-parts":[["2019",4,13]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (BGP_Entrepreneurship-in-Education.pdf, n.d.). In essence, the experience of the investor can make him assess the competency of the entrepreneur thoroughly in comparison to my approach. Irrefutably, the imperative skill of learning from mistakes is harnessed after learning from mistakes and this is accomplished after serving time and embracing failures in a practical manner.
Conclusion
The deliberated instances demonstrate a comprehensive outlook of the thoughtful lessons I manifested from the course in addition to the regrets and critical strategies to incorporate in the future business models. Entrepreneurship is a paradigm seeking profound creative, critical interpersonal and inspiring leadership skills to thrive in the competitive market. The success of relies primarily on the presentation and the utilization of a seasoned and critical workforce. The bottom line is that these values are deeply vested in personal interpersonal skills and the disposition to embrace failures. Besides, a fresh entrepreneur can rarely master the skillset and approach of an experienced entrepreneur or an investor. It never implies, however, that taking an initiative results in failure rather it leads to master ken insights and establish a sustainable business model.
References
ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY 3.1 Entrepreneurial Skills and Tools - Skills and Strategies. (n.d.). Retrieved April 13, 2019, from Coursera website: https://www.coursera.org/lecture/entrepreneurial-thinking/3-1-entrepreneurial-skills-and-tools-rHDqN
6 steps to becoming more entrepreneurial. (n.d.). Retrieved April 13, 2019, from World Economic Forum website: https://www.weforum.org/agenda/2016/07/6-steps-to-becoming-more-entrepreneurial/
BGP_Entrepreneurship-in-Education.pdf. (n.d.). Retrieved from https://www.oecd.org/cfe/leed/BGP_Entrepreneurship-in-Education.pdf
Encouraging and Developing the Entrepreneurial Skills of Gabonese Youth: A Success Story. (n.d.). Retrieved April 13, 2019, from World Bank website: http://www.worldbank.org/en/news/feature/2019/01/23/encouraging-and-developing-the-entrepreneurial-skills-of-gabonese-youth-a-success-story
Rieple, A., & Chang, J. (2013). Assessing students’ entrepreneurial skills development in live projects. Journal of Small Business and Enterprise Development, 20(1), 225–241. https://doi.org/10.1108/14626001311298501
When entrepreneurship training matters most. (2015, April 20). Retrieved April 13, 2019, from IGC website: https://www.theigc.org/blog/when-entrepreneurship-training-matters-most/
