Young Entrepreneurs
Lack of this makes loans hard for young entrepreneurs.
Credit history
Short-term achievement toward a larger goal.
Stepping stone
"S" in SWOT: What you excel at.
Strengths
Skills for talking, listening, and resolving conflicts.
Interpersonal skills
Key strategy: Plan before acting.
Think first
Asset pledged to secure a loan.
Collateral
Major event marking progress (e.g., graduating).
Milestone
"W" in SWOT: Areas needing improvement.
Weaknesses
Evaluating solutions and making decisions.
Critical thinking skills
Strategy: Resist peer pressure and trust abilities.
Believe in yourself
Bureaucratic rules slowing business processes.
Red tape
Deadline for achieving a goal.
Target date
"O" in SWOT: Potential for growth.
Opportunities
Generating innovative ideas.
Creative thinking skills
Strategy: Understand your own skills/limits.
Know yourself
Systems like transportation needed to run a business.
Infrastructure
"M" in SMART goals (e.g., passing a course).
Measurable
"T" in SWOT: External barriers to goals.
Threats
Using job-specific tools (e.g., software).
Practical skills
Strategy: Embrace ventures that test creativity.
Enjoy the challenge
Way to gain experience: summer jobs or co-op.
Part-time work
"A" in SMART goals (requires resources).
Attainable
Edison’s step-by-step problem-solving method.
Incremental problem solving
Einstein’s unconventional approach.
Out-of-the-box thinking
Keeping records and being responsible.
Accountability