Read the case study again and then answer the following questions.

1. In the case study, Anthony Delport mentions many different characteristics that entrepreneurs need. Working with a partner, make a list of the characteristics of successful entrepreneurs. Working on your own, go back through the list of characteristics you identified and indicate with a star which of these characteristics you have.

2. Explain what is meant by each of the following statements in the case study:
a) Learn from your mistakes.
b) Experience failure before you reach success.
c) Find the money to get the business going and keep the business going.
d) Keep doing research.
e) Concentrate on cash, not profits.

(5x2=10)

Learn from your mistakes: This statement means that entrepreneurs should see their failures as opportunities for growth and improvement, analyzing what went wrong to avoid repeating the same errors.

Experience failure before you reach success: Entrepreneurs are advised to embrace setbacks as stepping stones towards success, understanding that failures are often a natural part of the journey to achievement.

Find the money to get the business going and keep the business going: This highlights the importance of securing adequate funding to start a business and ensuring its sustainability through financial management and planning.

Keep doing research: Entrepreneurs need to continuously gather information and analyze market trends to stay competitive and innovative.

Concentrate on cash, not profits: Focusing on cash flow ensures the business has enough liquidity to cover expenses and reinvest in growth, which is vital for long-term success.

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