Characteristics of an Entrepreneur
Being focused on reaching a specific objective or accomplishing a task
What is "Goal Oriented"?
Fulfilling a common need or solving a common problem
What is "Providing a valuable product or service"?
Giving orders instead of following them
What is being your own boss or in charge?
Some months you have a lot, other months you do not
What is "uncertain income"?
RP, BATNA, and ZOPA
What are "Reserve Point"
"Best Alternative to a Negotiated Agreement" and
"Zone of Possible Agreement"?
Creating new or innovative products or processes
What is "Creative Mindset"
Having your brand, product, or name recognized nationwide
What is "Growth (in size or capabilities)"?
Being able to implement your new ideas, concepts, or solutions to problems on a daily basis
What is "Being creative"?
You can't "clock out" at a certain time like an hourly employee, and you get paid the same, no matter how many hours it takes to get the job done.
What is a salary?
Fixating on initial information and ignoring subsequent information
What is the "Anchoring Effect"?
Having the endurance or resolve to keep trying until you accomplish your goal
What is "Being determined" or "Perseverance"
This helps you buy everything you need and/or want
What is "Making Money" or "Profit"?
The money businesses keep from sales revenue after all expenses are paid.
What is "Profit"?
This is the risk of an unsuccessful business
What is "Loss or losing money?"
Creating an artificial "reference point" which defines gains and losses in your mind.
What is "Framing"?
Knowing and believing in your ability to succeed, even with new tasks
What is "Self-Confidence"?
Paying people to be a part of your business and help you reach your business goals
What is "Creating Jobs"?
Solving a common problem or providing people with a necessary good.
What is "Serving the community"?
These are unintentional costs that people surrounding your business suffer as a result of your business. (pollution, traffic, etc.)
What are "Externalities"?
Making an ambitious initial offer to anchor their counterpart and frame their mindset
What is "The First Offer"?
The ability to be familiar with your the latest software, machines, and processes.
What is being "Up on tech"?
Competing with a large company, having others notice your business's success and become interested in your company, and making an offer to purchase it.
What is "Being acquired or bought out"?
The ability to work on something you care about
What is being interested or passionate?
You have the job of considering the cost of doing business and figuring out company mistakes and problems to reduce the cost of doing business.
What is "Decision making responsibility"?
Structure
Psychology (attitude or mentality)
Status
Reputation
These give you leverage when negotiating.
What are "Sources of Power in Negotiations"?