Competencies of an Entrepreneur - the key

The competency profile of an entrepreneur:

1. design, develop and create new product of value.
2. identify market demand opportunity that generate high return.
3. dare to take business risk
4. create the right business model to operate the new venture. 
5. Mobilize resources to conduct the business. (4 Ms)

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1. Design a realistic, profitable business model.
• by setting the right price
• to get the right sales volume
• matched with the right costs
• to generate a worthwhile return.
2. Understand returns to capital or equity as key objective of business
3. Manage with  minimum capital
4. understand and relate risks to return
5. Set the targeted customers and their needs
• with 4ps
6. Increase HR productivity through piece rate wages and profit sharing
7. Raise capital and maximise borrowings through financial leverage.
8. reduce operational costs through efficiency monitoring.
9. If possible convert all fixed to variable costs

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