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For example, adopting solar power instead of traditional energy sources not only saves money but also
contributes to environmental conservation. By prioritising sustainable resource management, entrepreneurs
not only improve their financial performance but also contribute positively to the long-term health of the
planet.
Quality and Affordability: Competitive Pricing for Products and Services
Entrepreneurs work hard to make products and services more affordable
through competition and new ideas. For example, think about how the prices of
computers have gone down. When computers were first introduced, they were
very expensive and not everyone could afford them. But because of entrepreneurs
finding better ways to make computers and competition between companies,
the prices have come down a lot. Now, many people can buy computers for
much less money, making them more accessible to everyone. This shows how entrepreneurship helps to
make things cheaper and better for everyone.
SESSION 3 Qualities of a Successful Entrepreneur
In this session, we will learn about the qualities that make an entrepreneur successful. Traits like creativity,
patience, hard work, and perseverance are essential for entrepreneurs to start and grow their businesses. By
understanding these qualities, you’ll gain insight into what it takes to become a successful entrepreneur.
TRAITS OF A SUCCESSFUL ENTREPRENEUR
Successful entrepreneurs possess a variety of qualities or traits that help them thrive in business:
Patience: Successful entrepreneurs understand that building a business takes time and patience to
overcome challenges and achieve long-term goals.
Positivity: Successful entrepreneurs maintain a positive attitude even in the face of setbacks, using failures
as learning opportunities to improve their business strategies and products/services.
Hard Work and Perseverance: Entrepreneurs are dedicated and persistent, willing to work tirelessly to
achieve success despite initial obstacles and failures.
Confidence: Successful entrepreneurs believe in themselves and their vision, making confident decisions
and effectively communicating with customers and stakeholders.
Openness to Trial and Error: Entrepreneurs embrace experimentation and are open to trying new ideas,
learning from failures, and iterating to refine their offerings.
Creativity and Innovation: Successful entrepreneurs are innovative problem-solvers who identify
opportunities and develop unique solutions to meet market demands.
SESSION 4 Distinguishing Characteristics of Entrepreneurship and Wage Employment
In this session, we will learn how entrepreneurship differs from and wage employment, highlighting the
unique characteristics of entrepreneurship. We will also explore common reasons why businesses fail and the
key benefits of pursuing entrepreneurship. This will give you a deeper understanding of the entrepreneurial
journey and its impact on personal and professional growth.
Entrepreneurial Skills-I 81

