By the end of this section, you will be able to:

• Determine your marketable talents.
• Identify the skills and knowledge you need to operate your own business.
• Assess your current entrepreneurship strengths and challenges.
• Ensure the business you are considering is the right business for you.
• Decide whether or not you want to be self-employed.

Exercise 1: What Is an Entrepreneur?

What are the first words that pop into your head when you hear the term "entrepreneur"? We all have different impressions of what being an entrepreneur is all about.

According to Webster's New Collegiate Dictionary, an entrepreneur is "one who organizes, manages, and assumes the risks of a business or enterprise." In reality, many entrepreneurs work for other people, and exhibit entrepreneurial characteristics such as risk taking, persistence, creativity and independence. Other people operate businesses, but are not necessarily entrepreneurs by nature. They may have developed their skills and adapted their working style to successfully manage their own business, or have hired others to complete certain tasks.

Throughout this program, we will use the terms "self-employed", "entrepreneur" and "business owner" to describe "anyone who creates his or her own earnings and opportunities in the form of a business, contract work or freelance activities."