Question

Explain, in detail, characteristics that are important for an individual to possess when trying to start one's own business

Answer 1

Answer:

1. Have a clear vision

2. Have a business plan

3. Create short-term goals

Skill development

Be a great marketer

Get to know your customers

Be willing to change

Be financially prepared

Never give up

Be passionate

Explanation:

1. If you don’t have a clear vision of the business that you are trying to create, then how can you be successful in creating it? First of all you need to figure out exactly the type of company you are looking to build.

2. writing out your business plan forces you to review everything at once; your marketing assumptions, operations plan, financial plan and staffing plan, helping you to spot connections you otherwise would have missed.

3. they identify what the company needs to achieve in the next quarter, month and week to ensure that they meet their annual goals. Goal setting is not a one-time event when formulating your business plan, but an ongoing process.