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Q 1 - Characteristics of Entrepreneurs Desire for...

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Characteristics of Entrepreneurs Desire for responsibility Preference for moderate levels of risk – risk eliminators Confidence in their ability to succeed Desire for immediate feedback High level of energy Future orientation – serial entrepreneurs Skilled at organizing Value achievement over money Benefits of Entrepreneurship The opportunity to: Create your own destiny Make a difference Reach your full potential Reap impressive profits Contribute to society and to be recognized for your efforts Do what you enjoy and to have fun at it Creativity- the ability to develop new ideas and discover new ways of looking at problems and opportunities, thinking new things. Innovation- the ability to apply creative solutions to problems or opportunities to enhance or to enrich people’s lives; doing new things. Right brained thinking draws on divergent reasoning, the ability to create a multitude of original, diverse ideas. Left brained thinking counts on convergent reasoning, the ability to evaluate multiple ideas and to choose the best solution to a problem. Patent a grant from the Patent and Trademark Office to the inventor of product, giving the exclusive right to make, use, or sell the invention for 20 years from the date of filing the patent application. The Six Steps to a Patent 1. Establish the invention’s novelty 2. Document the device 3. Search existing patents 4. Study search results
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5. Complete the patent application 6.
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