"Working hard and working smart, sometimes can be two different things."
(Byron Dorgan)
An entrepreneur can be defined “a person who sets up a
business or businesses, taking on financial risks in the hope of profit (Oxford
Dictionary N.D.).
Some of the skills that are required by an entrepreneur
include:
·
Plan everything
·
Manage Money wisely
·
Self Promotion
·
Create a competitive advantage
·
Master the art of negotiating
Successful Entrepreneurs
Alan sugar and Duncan are considered two of the UK’s most
successful entrepreneurs. Their skills and attributes include:
Profile: Alan sugar
“Having left school in Hackney aged 16, Alan Sugar started
selling electric goods out of a van he bought for £50. In 1968, he founded
Amstrad and now, over 45 years later, he has an estimated worth of £900 million
and was ranked 110th in the 2014 Sunday Times Rich List” (BBC N.D.)
5 key skills which Lord Sugar identified as helping him
succeed include:
·
Calculated risk taking
·
Self discipline
·
Clear business plan
·
Negotiation
·
Differentiate yourself from competition
Profile: Duncan
Bannatyne
“Duncan began his
entrepreneurial life by trading in cars, but it was with an ice cream van
purchased for £450 that he changed the course of his life.
With 'Duncan's Super
Ices', he set out to become the king of the 99 and eventually sold the business
for £28,000, founding a nursing home business instead.
He sold his nursing home
business for £46 million in 1996. Duncan quickly diversified into the fitness
market and, just over a decade later, now operates Bannatyne’s Health Clubs,
the largest independent chain in the UK. His Bannatyne Group also has interests
in hotels, bars and a chain of luxury” (BBC N.D.)
3 key skills which Duncan Bannatyne identified as helping
him succeed include:
·
Research and knowledge
·
Time management
·
Determination and resilience