Chapter 2
WHAT SKILLS DO
ENTREPRENEURS NEED?
LESSONS
2.1 Communication Skills
2.2 Math Skills
2.3 Problem-Solving Skills
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Chapter 2
Slide 2
Lesson 2.1
COMMUNICATION SKILLS
GOALS
Develop good skills for
writing, speaking, and
listening.
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WRITING SKILLS – Business
Correspondence
Chapter 2
Slide 3
Effective business memorandums
Short form of communication
Used for interoffice communication
Can be hand delivered, emailed, faxed
Effective business letters
Most common form of business
correspondence
a certain level of formality is required
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RULES FOR WRITING
BUSINESS LETTERS
1.
2.
3.
4.
5.
Chapter 2
Slide 4
Type all formal correspondence.
- only personal letters are handwritten
Spell names correctly and have the correct address.
- letter effect is greatly reduced with misspelled
names
Always date your business correspondence.
- spell out the date, i.e. March 13, 2010
Use names and titles appropriately.
- use formal titles: Mr., Mrs., Ms., Dr.
Be direct and positive.
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RULES FOR WRITING
BUSINESS LETTERS
Chapter 2
Slide 5
6.
Be persuasive and specific.
- make sure the purpose of the letter is clear
7. Avoid using fancy language.
- if you don’t know the meaning don’t use the word
8. Be polite.
- no matter what the purpose; you catch more flies
with honey
9. Use an appropriate closing.
- make sure it matches the letter content
10. Proofread for spelling and grammatical errors.
- a single mistake can ruin the best letter
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Chapter 2
Slide 6
SPEAKING SKILLS
Telephone conversations
Meeting with customers
Meeting with suppliers
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Chapter 2
Slide 7
TELEPHONE TIPS
1. Speak clearly, and talk directly into the
receiver.
2. Be cheerful.
3. Always speak politely.
4. Think about what you are going to say
before you make a call.
5. Take notes.
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MAKING THE MOST OF
PERSONAL CONTACTS
Chapter 2
Slide 8
1. Shake hands and make eye contact with the
person you are meeting.
2. Show an interest in what the other person is
saying.
3. Speak clearly.
4. Do not appear rushed or anxious to be
somewhere else.
5. Thank the person at the end of the meeting.
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Chapter 2
Slide 9
LISTENING SKILLS
1. Focus your attention on the person who
is speaking.
2. Think about and try to understand what
the other person is saying.
3. Ask questions to make sure you
understand what the person is saying.
4. Take notes to confirm what you are
hearing.
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Chapter 2
Slide 10
Lesson 2.2
MATH SKILLS
GOALS
Use basic math skills in
business.
Complete sales
transactions.
Calculate percentages for
business purposes.
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Chapter 2
Slide 11
BASIC MATH SKILLS
Addition and subtraction
Multiplication
Averages using division
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SALES TRANSACTIONS
Chapter 2
Slide 12
Purchase orders and invoices
Sales tax
Know what it is
Texas = 6.25% state + 2.0% local
Know when to charge it
http://www.window.state.tx.us/taxinfo/sales/que
stions.html
Sales slips
Cash registers usually issue
Managing a cash drawer
Cash vs Credit
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BALANCING THE CASH DRAWER
Cash
Checks
+ Credit sales
Total receipts
– Refunds
Adjusted receipts
– Opening cash
Actual receipts
ENTREPRENEURSHIP: Ideas in Action
Chapter 2
Slide 13
$348.62
154.20
218.98
$721.80
21.47
$700.33
50.00
$650.33
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Chapter 2
Slide 14
PERCENTAGES
 Growth rates
 Sales for one period compared to a different
period
 Can be used to project sales
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Chapter 2
Slide 15
PERCENTAGES
 Interest payments
 Interest is the amount charged for borrowing
money
 Principal is the amount borrowed
 Rate of Interest is the % charged
 Term refers to the length of time a loan can be
repaid
 Interest methods
 Exact interest method
 Amt x Rate x (Time/365) = Total Interest
 Ordinary interest method
 Amt x Rate x (Time/360) = Total Interest
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Chapter 2
Slide 16
PERCENTAGES
 Markups
 Amount added to the cost to give retail price
 Markdowns
 Amount deducted from retail price to give discount
price
 Discounts
 Reduction in a retail/whole sale price of G/S
 Given to employees or customers
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Chapter 2
Slide 17
Lesson 2.3
PROBLEM-SOLVING SKILLS
GOALS
Use the six-step problemsolving model.
Recognize the importance
of group decision making.
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Chapter 2
Slide 18
USE A PROBLEM-SOLVING PROCESS
Define the problem
“What is wrong?”
Gather information
“What can help solve the problem?”
Identify various solutions
List all possible
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Chapter 2
Slide 19
USE A PROBLEM-SOLVING PROCESS
Evaluate alternatives
Determine the best solution
Take action
Implement the solution
Evaluate the action
Did it solve the problem?
Possibly the most important step
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Chapter 2
Slide 20
GROUP PROBLEM SOLVING
Brainstorming
a creative group problem-solving technique
that involves generating a large number of
fresh ideas.
Consensus
is agreement among a group of people
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