Entrepreneurial Skills Report: Buffett and Zuckerberg Analysis

This report provides an analysis of entrepreneurial skills and traits, focusing on the examples of Warren Buffett and Mark Zuckerberg. It examines the key skills and traits of successful entrepreneurs, including business management skills, confidence, conscientiousness, extraversion, agreeableness, and neuroticism. The report explores how their experiences and backgrounds influenced their entrepreneurial journeys, highlighting their risk-taking abilities, marketing strategies, and approaches to business. It also discusses how their entrepreneurial personalities reflect motivation and their ability to overcome obstacles. The analysis includes details on their early ventures, challenges faced, and the lessons learned from their experiences, with the aim of providing insights into the essential elements of entrepreneurial success in small business management.

Entrepreneurship and
small business
management

Contents
PART A...........................................................................................................................................3
PART B......................................................................................................................................................6

PART A

PART B

In accordance with small business management their owners have the accountability to manage
all aspects of the company. The report is based on various skills and traits of prosperous
entrepreneurs, how aspects of entrepreneurial personality reflect motivation and how experience
and background can hinder or foster entrepreneurship.

In accordance with Warren Buffet he also took different risks. Though at previous times he got
failed but he never stopped. He has always considered that taking risks is the key to success.
Inspired: - It is very much important to be an inspired person. Through this skill only customers
would get fascinated. In terms of being unlike from other business manager’s finest and effectual
marketing strategies can be developed. In relation with Warren Buffet he always examined the
school of investing a value whose prices are low in context with their overall value and also
looked at the association as whole and that was the main reason behind that he is different from
other business executives. In accordance with Mark Zuckerberg he was considered as a best
creative person and different from other executives because he enhanced the approaches in a
better way.
Skills of Mark Zuckerberg and Warren Buffet:-
Business management skills: - In accordance with being a successful capitalist and different
from other managers diverse skills are needed which means that they should have the capacity of
doing compound tasks at the same period of time and make certain decisions in order to earn
more revenues. Both Mark Zuckerberg and Warren Buffet has those skills because they were
always been encouraged due to this they achieved growth.
Traits of Mark Zuckerberg and Warren Buffet:-
Level of confidence: - Being a tycoon it is vital to have full level of confidence on businesses as
well as on themselves. They had always trust on their concepts and learned from the failure. Both
Mark Zuckerberg and Warren Buffet had full self –confidence.

Conscientiousness: - It is engaged with good impulse control and in context with this all
audiences is properly being recognized and pays attention to each data. In context with Warren
Buffett he was having this type of personality because of his disciplined nature and a goal
directed behavior
Extraversion: - The people who are involved with this kind of personality ability are very much
energetic and besides this had increased level of emotional expressiveness. In terms of mark
Zuckerberg he was not having this personality due to low level of extraversion because he was
being an introvert person while Warren Buffet had this personality because he used to indulge
into building social relationships.
Agreeableness: - It involves features like sympathy, friendliness and many more. People who
have this kind of ability are considered cooperated by nature while other people are considered
competitive. In terms of Warren Buffett he was having this trait as he was very kind by his
behavior and always remain friendly with other individuals.
Neuroticism: - It refers to any ability which includes unhappiness and also the kind of emotional
instability. Audiences who have this type of trait gets upset very easily

He was running his own personal business by being a paper boy. In the year 2006 he made a
decision with respect to a statement that he would be providing his fortune to charity.
Experience: - In context with Warren Buffett capability it was being evaluated that he was born
with business in his blood. He was engaged in providing newspapers and used all his savings to
purchase pinball machines which are being used in local business organizations. He started
doing partnership with all his friends and after some period of time he opened several
partnerships. Under the age of 30 he got indulged with all their partnerships under the single one.
He made a very effective investment and became one of the most famous business tycoons and it
was possible due to his risk taking Abilities. All people should learn from him that profits which
are own should be again reinvested and work must be done only if person has an interest into it.
Warren Buffett never gave up and reached at the top level Just because of this it was very
inspiring for other members also to learn from him that how he developed himself and became a
good business person

In the year 2006 he faced many obstacles like the creators of Harvard sued on him that he has
copied their business idea and now he had to pay for this.
Experience: - Mark Zuckerberg was always being interested in implementing new games using
certain tools of communication so when he was studying at the school he implemented a new
artificial intelligent music player which was named as Synapses. Though he achieved success but
at the same point of time he faced certain consequences also that lead him to the case of failure.
During the establishment of face mash many students complained that their pictures are being
used and thus have to end his project. After some period of time he established a new social
networking site named as Facebook. He is considered as one of the youngest business tycoon and
a billionaire also.