Neo faces the decision of taking the blue pill or the red pill, as a result he has become the ‘saviour’. This post is about decision-making. But… back to reality…
In our 486G today class we have discussed the various traits and characteristic a person should possess in order to succeed in enterprising their own business, from having a rich set of personal skills such as timing, organizations skills to grasping the opportunity when the time comes. Most importantly, entrepreneurs should be able to make quick and effective decisions with the information given at hand. If a person has all of those traits than I would say he or she is half way there in becoming a successful business man/ woman, however, there is a huge price tag when making big decisions and those are called risks and opportunity cost.
On top of that, Mark Whinney, one of our guest speakers for the class have highlighted specifically to us that its not only about the personal skills and such, which will help us to get to the top but also the timing and the ability to see opportunities when the economy is not blooming or when business outlooks seem gloomy. This brings us to the second half of the ‘know-hows’ when it comes to becoming a successful entrepreneur. To have a ever-changing set of methods in dealing with different problems, to have the adaptive ability to cope with various situations and to have the guts to make BIG decisions.
