Which are the qualifications for a young to start and growth his/her enterprise? - Part 2 of 2

Which are the qualifications for a young to start and growth his/her enterprise? - Part 2 of 2
Anastasios Vasileiadis
by Anastasios Vasileiadis

The knowledge, skills and personal characteristics that an entrepreneur should meet, and these are presented to the following table:

Knowledge about

Skills for

Personal Characteristics

  • Promotion of the entrepreneurial idea
  • Start up and enterprise development
  • Developing strategies to address threats and integrate changes
  • Funding
  • Sustainability plan
  • Financing
  • Small enterprises principles
  • Low issues
  • Human resources management
  • Different types of enterprises
  • Planning entrepreneurial resources
  • Basic management knowledge
  • Entrepreneurial advantage
  • Entrepreneurial difficulties
  • Successful entrepreneurship
  • Product quality
  • Market research
  • Competition analysis and entrepreneurial strategy
  • Identifying business opportunities
  • Management skills
  • Sales skills
  • Problem solving
  • Business plan
  • IT skills
  • Writing and oral communication
  • Decision making
  • Negotiation techniques
  • Creativity
  • Entrepreneurial potential
  • Self-control
  • Innovation
  • Risk taking
  • Tolerance for change
  • Leadership

The above literature review is only a small part of the discussion for the qualifications that an entrepreneur should meet in order to be successful at starting and managing his/her enterprise. On the contrary small amount of literature exists for the description of the youth entrepreneur profile and especially for the functions, activities and tasks that he or she should fulfill during the entrepreneurial process and the learning outcomes for these qualifications.

Clustering the above learning outcomes in functions, activities and tasks which are presented below:




1. Entrepreneurial idea recognition and evaluation

1.1. Opportunity recognition and evaluation

1.1.1. Identify and evaluate entrepreneurial opportunities

1.1.2. Time management

1.1.3. Risk Management

2. Start up an enterprise

2.1. Creation of a business plan

2.1.1. Create a business plan

2.1.2. Market analysis and research

2.2. Funding scheme and placement

2.2.1. Finding and choosing funding means

2.2.2. Financial analysis

2.2.3. Choosing places and equipment

2.3. Financial issues

2.3.1. Monitoring financial flows

2.3.2. Financial analysis

3. Entrepreneurial development and success

3.1. Management

3.1.1. Business development and success

3.1.2. Leadership and Human Resources management

3.1.3. Time management

3.1.4. Risk Management

3.1.5. Quality management

3.1.6. Financial analysis

3.1.7. Monitoring financial flows

3.2. Marketing

3.2.1. Marketing

3.2.2. Market analysis and research

3.2.3. Communication

3.2.4. Pricing

3.2.5. Advertising

3.2.6. Sales

The development of the entrepreneur profile and especially the youth is an open research practical and theoretical issue. The aim of the present paper is to contribute to the open dialogue for the qualifications that a young person should comply with in order to start and manage successfully an entrepreneurial activity. Also, the conducted research aimed to find out what are the main problems that obstruct business start-up and development of the young entrepreneurs.

Personal characteristics, propensity towards enterprise and thorough initial preparation are important factors to successful business start-up and development by young entrepreneurs. The last ones feel the least confident while trying to cope with various administrative problems, such as monitoring financial flows, doing financial analysis, setting competitive prices and other. The lack of knowledge, skills and competences in the aforementioned issues aggravate competitive abilities and thus entering the entrepreneurial market. So it is important that if you want a successful startup try to know as much as you can!