What is Entrepreneurship Simple Definition
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| forloop4.blogspot.com |
An entrepreneur is a person who sets up a business with the aim
to make a profit.
This entrepreneur definition can be Simple but for good
reason. An entrepreneur can be a person who sets up their first online store on
the side or a freelancer just starting out.The reason why they’re considered
entrepreneurs, though some disagree, is because where you start out isn’t where
you’ll end up. An entrepreneur is someone who starts a Business that
can eventually create a full-time, sustainable business with employees. Same
with the freelancer. If your mindset fully focused on creating a
profitable business, you fit the entrepreneur definition......
Characteristics of Entrepreneurship and also Important role in Business
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| Justok! by Amit.. |
Also Read..what is Queue in data structures ?
1. Economic and dynamic activity:
Entrepreneurship is an economic
activity because it involves the creation and operation of an enterprise with a
view to creating value or wealth by ensuring optimum utilization of scarce
resources.
2. Related to innovation:
Entrepreneurship involves a
continuous search for new ideas. Entrepreneurship compels an individual to
continuously evaluate the existing modes of business operations so that more
efficient and effective systems can be evolved and adopted. Boost your Business
and develop your soft skills by your positive mindset.
3. Profit potential and Developing Skills:
Profit potential is the likely level
of return or compensation to the entrepreneur for taking on the risk of
developing an idea into an actual business and grow with your Logistic Thinking.
4. Problem solving and Risk bearing:
The essence of entrepreneurship is
the ‘Ready to assume risk’ arising out of the creation and implementation of
new ideas. New ideas are always tentative and their results may not be
instantaneous and positive.
How to be Successful Entrepreneur
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Also read.....Java OOPS concepts in 30 minutes
1. Idea Generation:
To
generate an idea, the entrepreneurial process has to pass through three steps-------
A.
Research about Market Trends:
This
is like seeding process, not like planting seed. It is more like the natural
seeding. Most creative ideas can be linked to an individual’s interest or
curiosity about a specific problem or area of study.
B.
Make a Plan:
Once
the seed of interest curiosity has taken the shape of a focused idea, creative
people start a search for answers to the problems. Inventors will go on for
setting up laboratories; designers will think of engineering new product ideas
and marketers will study consumer buying habits.
2. System study Feasibility study :
In SDLC we also read Feasibility means to check possibilities to
start a new Business or be an Entrepreneurship.
But this is not system development we considered about Following
two terms ……..
A. Give your Idea to Fly or Wings:
After
the generation of idea, this is the stage when the idea is thought of as a
realistic creation. The stage of idea blossoming is critical because ideas by
themselves have no meaning.
Quality of a Successful Entrepreneurship......
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| Justok! by Amit...... |
1. Good
Manners
These individuals are focused on
making their businesses work, and eliminate any hindrances or distractions to
their goals. They have overarching strategies and outline the tactics to
accomplish them. Successful entrepreneurs are disciplined enough to take steps
every day toward the achievement of their objectives.
2. Self-Confidence
The entrepreneur does not ask
questions about whether they can succeed or whether they are worthy of success.
They are confident with the knowledge that they will make their businesses
succeed. They exude that confidence in everything they do.
3. Positive
Minded
Entrepreneurs realize that every
event and situation is a business opportunity. Ideas are constantly being
generated about workflows and efficiency, people skills and potential new
businesses.
4. Adaptability
Entrepreneurs know that if
something needs to be done, they should start it themselves. They set the
parameters and make sure that projects follow that path. They are proactive,
not waiting for someone to give them permission. They are comfortable with any
situation.
5.
Competitive Goals
Many companies are formed because
an entrepreneur knows that they can do a job better than another. They need to
win at the sports they play and need to win at the businesses that they create.
An entrepreneur will highlight their own company’s track record of success.
6.
Creative Mind
One facet of creativity is being
able to make connections between seemingly unrelated events or situations.
Entrepreneurs often come up with solutions which are the synthesis of other
items.
7.
Determination
Entrepreneurs are not thwarted by
their defeats. They look at defeat as an opportunity for success. They are
determined to make all of their endeavors succeed, so will try and try again until
it does. Successful entrepreneurs do not believe that something cannot be done.
8. Strong
people Communication Skills
The entrepreneur has strong
communication skills to sell the product and motivate employees. Most
successful entrepreneurs know how to motivate their employees so the business
grows overall. They are very good at highlighting the benefits of any situation
and coaching others to their success.
9. Strong
work Performing skills
The successful entrepreneur will
often be the first person to arrive at the office and the last one to leave.
They will come in on their days off to make sure that an outcome meets their
expectations. Their mind is constantly on their work, whether they are in or
out of the workplace.
10.
Passion About Works and Goals
Passion is the most important
trait of the successful entrepreneur. They genuinely love their work. They are
willing to put in those extra hours to make the business succeed because there
is a joy their business gives which goes beyond the money. The successful
entrepreneur will always be reading and researching ways to make the business
better.
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| Justok! by Amit |
There are 4 Mainly Support Systems Of S uccessful Entrepreneur
Take New Idea's from other Entrepreneur
If you new in Entrepreneur field so you can talk to another Entrepreneur who's are already successful in this field and give you perfect knowledge about it.Therefore, find people around you who are business owners and foster
relationships with them. It requires taking time to have coffee and lunches and
also making phone calls to find out how they are. Ensure that it is a mutually
beneficial relationship where they feel they can even reach out to you for
advice.Make sure you reaches out to learn something. Do not waste your time if you're unsatisfied from it.
Join Community and Big Network
Community means any platforms where you get Discussion about new Ideas.For Example You
Express your idea on Social Platform Like Facebook , Whatsapp and many more.Sometimes we think we don’t have it in us until we help someone and
watch things work out for them. Being with like-minded people within and
outside your industry will be an eye-opening experience in as much as it is
helpful.In this community group you can take ideas and involve other Problems and Solve their Problems.In this Platform Your Good Communication Skills make you perfect and Effective Entrepreneur.
By Conduct a Meeting
Meeting helps you to find new Ideas and you check your mistakes and Grow up.There are two
types of Meeting Helps you to find Effective Ideas. first is Physical Meeting and second is Online meeting. So, Physical Meetings are conducted by you at perfect location . In this meeting you Openly Show your Active Projects and your other Entrepreneur helps you to find Mistakes and Express his own idea.
Online Meetings conducted by you can search about Entrepreneur on internet and send messages on E-mail and other Social Platforms.
Help of SSI and MSI
So last phase is with the help of SSI and MSI small scale industries and micro scale industries so we are already discuss about it.Basically,Small scale industries (SSI) are those industries in which manufacturing, providing services, productions are done on a small scale or micro scale. For example, these are the ideas of Small scale industries: Napkins, tissues, chocolates, toothpick, water bottles, small toys, papers, pens.
If you start SSI and you get all ideas about whole Business industries.These Small Business make you a High Level Entrepreneur based on your work.
#StayHome
Also Read..Procedure of registration in SSI
Explain By Amit Technical Content Writer And Owner Of Justok! Website
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