entrepreneurship vocab test

Comfort Engaging with

Strangers

The ability to interact in a friendly and effective way with

unfamiliar people. The ability to seem welcoming and easy to

talk to, even with people who are different in age, appearance or

background.

Communications Skills

The ability to accurately convey. Both verbal (or spoken) and

written communication skills are important.

Computer Literacy

The ability to use computers for basic tasks, such as developing

documents, sending emails and searching the internet for

information.

Determination

Commitment to get something done. Individuals with

determination exhibit willpower to accomplish what they set out

to do. Also called “tenacity.” Spirit, courage, willpower and

single-mindedness describe determined individuals.

Financial Literacy

Understanding how individuals and businesses earn money and

what they spend money on. Understanding important financial

terms. Learning how to create a budget.

Grit

An individual’s self-commitment to overcome obstacles to

achieve long-term goals. The ability to keep pursuing your

dream despite challenges and defeats. Perseverance, resilience

and backbone.

Mentor

A person who coaches and supports an entrepreneur . . . or a

student studying to become an entrepreneur. Mentors have

"been there, done that," so they are a great source of

experienced advice to an entrepreneur or a student.

Personal Capabilities

Abilities an individual develops that helps him / her succeed.

Personal capabilities are developed by a combination of

observation, training and hands-on trial and error.

Personal Support

Systems

Relationships and resources that help individuals succeed.

Support relationships are often with “mentors” (experienced

individuals who help you learn and succeed). Support resources

include both information sources (like the LA Star Jobs website)

and the opportunity to experience new things (like an

internship).

Problem Solving

The ability to find solutions to difficult or complex issues. The

process of working through the details of a challenge or crisis –

often under pressure – to reach a solution.

Self-Discipline

The ability to pursue what you think is right or necessary to do

despite temptations to quit. Self-command, persistence, and

resolve.

Self-Motivation

The ability to pursue a task without being told to by someone

else. Individuals who are self-motivated can find the strength to

start and then finish a task without giving up.

Teamwork

Working with others to address a challenge. Individuals using

their skills in harmony with others to complete a task. Effective

teamwork involves trust among team members. Collaboration

and cooperation.