ETP3701
ASSIGNMENT 4
SEMESTER 1 MEMO
| DUE 22 MAY 2025
NO PLAGIARISM
Abstract
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[Email address]
, Exam (elaborations)
ETP3701 Assignment 4 Semester 1 Memo |
Due 22 May 2025
Course
Entrepreneurship IIIA (ETP3701)
Institution
University Of South Africa (Unisa)
Book
Entrepreneurship
ETP3701 Assignment 4 Semester 1 Memo | Due 22 May 2025. All questions
fully answered.
Using the case study above and textbook, write an essay discussing the
following questions: 1.1 Relating to Sibanyoni’s story, discuss 12
characteristics and success factors of entrepreneurs. Also indicate how each
of these characteristics applies to you and how will they help you to become
a successful entrepreneur (24)
Entrepreneurial Characteristics and Success Factors in Relation to Sibanyoni’s
Story
Entrepreneurship is driven by specific traits and behaviours that contribute to success. In the case
of Sibanyoni, a South African entrepreneur who overcame challenges to build a successful
business, we can identify 12 key characteristics and success factors that enabled his journey.
These same traits, when developed and applied in my own life, will help me become a successful
entrepreneur.
1. Self-confidence
Sibanyoni believed in his business vision despite criticism and setbacks.
Application to me: I believe in my abilities and ideas, even when others doubt me. This
self-confidence motivates me to take risks and pursue my entrepreneurial goals without
fear of failure.
2. Risk-taking
Starting a business in uncertain conditions showed Sibanyoni’s willingness to take
calculated risks.
Application to me: I understand that success involves stepping out of my comfort zone. I
am willing to take informed risks, such as investing time and money into new ventures, to
create something meaningful.
3. Visionary thinking
Sibanyoni had a clear long-term vision for his business, which guided his actions.
Application to me: I constantly set long-term goals for my business ideas and projects.
My ability to visualise future success keeps me focused and proactive in planning.
, 4. Persistence and determination
Despite facing financial and logistical barriers, Sibanyoni kept pushing forward.
Application to me: I never give up easily. When challenges arise, I stay committed and
look for alternative solutions. This persistence helps me keep moving forward.
5. Innovativeness
Sibanyoni introduced new products and services that met the needs of his community.
Application to me: I like finding creative solutions and developing new ideas. My
innovative mindset helps me differentiate myself from competitors.
6. Opportunity recognition
Sibanyoni identified gaps in the market and acted quickly to address them.
Application to me: I am observant and open-minded. I look out for trends and unmet
needs in the market, which allows me to seize entrepreneurial opportunities.
7. Leadership
Sibanyoni led his team with passion and set a positive example.
Application to me: I enjoy taking initiative and motivating others. As a natural leader, I
will guide my team effectively and build a strong business culture.
8. Decision-making skills
Making quick and effective decisions helped Sibanyoni move his business forward.
Application to me: I make decisions by analysing the pros and cons. This ensures that I
make the best possible choices for my business's growth.
9. Planning and goal-setting
Sibanyoni set short- and long-term goals, which gave structure to his business journey.
Application to me: I write down clear business objectives and develop plans to achieve
them. This habit of setting and reviewing goals keeps me organised and focused.
10. Networking abilities
Sibanyoni built strong connections with suppliers, customers, and mentors.
Application to me: I understand the value of building relationships. I actively connect
with professionals in my field, which opens up opportunities and support.
11. Resilience
Sibanyoni bounced back from failures and learned from mistakes.
Application to me: I don’t let setbacks define me. I use failures as learning experiences
and keep improving my strategies.
12. Commitment and hard work
Sibanyoni put in long hours and gave his full commitment to his business.
Application to me: I am willing to work hard and make sacrifices for my business. My
dedication ensures that I give 100% effort in everything I do.
Conclusion
Sibanyoni’s entrepreneurial journey highlights the importance of having the right mindset, skills,
and personal traits. By cultivating these 12 characteristics in myself—such as self-confidence,
resilience, and innovation—I am laying the foundation to become a successful entrepreneur.
These traits not only guide my actions but also inspire me to overcome obstacles and create value
in my community.
ASSIGNMENT 4
SEMESTER 1 MEMO
| DUE 22 MAY 2025
NO PLAGIARISM
Abstract
[Draw your reader in with an engaging abstract. It is typically a short summary of the document.
When you’re ready to add your content, just click here and start typing.]
user
[Email address]
, Exam (elaborations)
ETP3701 Assignment 4 Semester 1 Memo |
Due 22 May 2025
Course
Entrepreneurship IIIA (ETP3701)
Institution
University Of South Africa (Unisa)
Book
Entrepreneurship
ETP3701 Assignment 4 Semester 1 Memo | Due 22 May 2025. All questions
fully answered.
Using the case study above and textbook, write an essay discussing the
following questions: 1.1 Relating to Sibanyoni’s story, discuss 12
characteristics and success factors of entrepreneurs. Also indicate how each
of these characteristics applies to you and how will they help you to become
a successful entrepreneur (24)
Entrepreneurial Characteristics and Success Factors in Relation to Sibanyoni’s
Story
Entrepreneurship is driven by specific traits and behaviours that contribute to success. In the case
of Sibanyoni, a South African entrepreneur who overcame challenges to build a successful
business, we can identify 12 key characteristics and success factors that enabled his journey.
These same traits, when developed and applied in my own life, will help me become a successful
entrepreneur.
1. Self-confidence
Sibanyoni believed in his business vision despite criticism and setbacks.
Application to me: I believe in my abilities and ideas, even when others doubt me. This
self-confidence motivates me to take risks and pursue my entrepreneurial goals without
fear of failure.
2. Risk-taking
Starting a business in uncertain conditions showed Sibanyoni’s willingness to take
calculated risks.
Application to me: I understand that success involves stepping out of my comfort zone. I
am willing to take informed risks, such as investing time and money into new ventures, to
create something meaningful.
3. Visionary thinking
Sibanyoni had a clear long-term vision for his business, which guided his actions.
Application to me: I constantly set long-term goals for my business ideas and projects.
My ability to visualise future success keeps me focused and proactive in planning.
, 4. Persistence and determination
Despite facing financial and logistical barriers, Sibanyoni kept pushing forward.
Application to me: I never give up easily. When challenges arise, I stay committed and
look for alternative solutions. This persistence helps me keep moving forward.
5. Innovativeness
Sibanyoni introduced new products and services that met the needs of his community.
Application to me: I like finding creative solutions and developing new ideas. My
innovative mindset helps me differentiate myself from competitors.
6. Opportunity recognition
Sibanyoni identified gaps in the market and acted quickly to address them.
Application to me: I am observant and open-minded. I look out for trends and unmet
needs in the market, which allows me to seize entrepreneurial opportunities.
7. Leadership
Sibanyoni led his team with passion and set a positive example.
Application to me: I enjoy taking initiative and motivating others. As a natural leader, I
will guide my team effectively and build a strong business culture.
8. Decision-making skills
Making quick and effective decisions helped Sibanyoni move his business forward.
Application to me: I make decisions by analysing the pros and cons. This ensures that I
make the best possible choices for my business's growth.
9. Planning and goal-setting
Sibanyoni set short- and long-term goals, which gave structure to his business journey.
Application to me: I write down clear business objectives and develop plans to achieve
them. This habit of setting and reviewing goals keeps me organised and focused.
10. Networking abilities
Sibanyoni built strong connections with suppliers, customers, and mentors.
Application to me: I understand the value of building relationships. I actively connect
with professionals in my field, which opens up opportunities and support.
11. Resilience
Sibanyoni bounced back from failures and learned from mistakes.
Application to me: I don’t let setbacks define me. I use failures as learning experiences
and keep improving my strategies.
12. Commitment and hard work
Sibanyoni put in long hours and gave his full commitment to his business.
Application to me: I am willing to work hard and make sacrifices for my business. My
dedication ensures that I give 100% effort in everything I do.
Conclusion
Sibanyoni’s entrepreneurial journey highlights the importance of having the right mindset, skills,
and personal traits. By cultivating these 12 characteristics in myself—such as self-confidence,
resilience, and innovation—I am laying the foundation to become a successful entrepreneur.
These traits not only guide my actions but also inspire me to overcome obstacles and create value
in my community.
