Spotting opportunity is the key to
entrepreneurship.
The entrepreneur might not necessarily be more skilled than those less successful but the difference in entrepreneurship is spotting opportunities and seizing the chance.
You have to balance your adventurous opportunism with sensible accounting based on sound cash flow and the continuous application of a trading formula that maximises sales profit.
Broadly speaking, there are three types of entrepreneur: type A create new concepts; type B obtain new concepts and go further with them through good management; and type C can create new concepts and go further with them too.
However, not all would-be entrepreneurs fit into these categories. You need to prove you are not the type of entrepreneur who cannot create a concept or obtain one, and cannot manage a concept’s development.
For more on entrepreneurship, see http://www.thinkingmanagers.com
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