1.

Define entrepreneur - 46 A person who is willing to combine an element of risk taking with their own knowledge and skills to make a profit. 2. List 3 questions that may have to be asked to evaluate suitability in running a business 42 The reason why the potential business owner is going into business, then assessment of whether these are valid The skills, abilities and personality of the business operator to gauge suitability for business ownership Objectives of the business 3. List 5 reasons why people enter self-employment Be independent Become wealthy Be recognised as a success for self-worth Have flexible working hours and conditions Overcome employment 4. Read 44-45 complete 1-6 (I) List and briefly explain the four essentials traits for a small business owner Persistence Successful people keep trying until they find success. They arent discouraged by failure. Belief Successful people believe that they will succeed Vision Successful people have a clear idea about where they want to be going Action Successful people are always prepared to take action (II) Explain why Reynolds means by the statement, successful people dont have failures, only results. Means that because successful people dont stop when they fail, so they cant have failures. They keep trying and trying until they find success. 5. Briefly explain the 6 areas that may eventuate into a successful idea 46-47