Entrepreneur Define
Entrepreneurship is the ability to develop, organize and run a business along with the uncertainties in order to make a profit. The example of an entrepreneur is starting a new business. An entrepreneur is view as a change in work life. Another way of is a person who sets up the business to earn profit by taking the financial risk.
Goal of Entrepreneur
If we talk about the goal of an entrepreneur, the first goal of an entrepreneur should create a product or services that improve the lives of others with low cost and low profit and the other goal is to train the employees with new skills will help them in future. Although the profit-making is also the main aim of the entrepreneur.
Entrepreneurial abilty is the indiviual ability to turn new ideas into actions which includes innovation, creativity and risk-taking ability. More entrepreneurial spirit leads to creation of new ideas and plan for business growth.
Becoming the self-taught entrepreneur
An entreprenure learns from his mistakes. Grow the business with his ability and remember the mistakes which had made in past. Becoming the self taught entreprenur is great key for a businessmen who remember his past mistakes and run the business with new ideas.
We are born with that make us more likely to become successful on our own. The truth is some people learn better on their own and some seem to catch on only if another person shows them step by step how to get and overcome their mistakes.
The interest of businessmen matters for the growth of the business, an entrepreneur would most likely be interested in personal satisfaction and fulfilment, gaining profit and flexible working environment. These all bring freedom to live a life that is more satisfying. Maybe the personal fulfilment is more rewarding than financial gain for an entrepreneur.
I am not fit for this office
The satisfaction level might be dependent on nature of entrepreneur. Some employees says i am not fit for this office because they like to invest and earn their own money with better satisfaction level and in flexible way. Personal fulfillment finds more opportunistic that escape from challenging goals.
Before statring the new business or bofore creating a business plan, an entrepreneur must research the businesses which similar in past from your business plan. In order to be informative about all facts of business, an entrepreneur must analyze the market and similar business with your business so that target market can be defined.
What must an entrepreneur do after creating a business plan
After making the business plan arrange the finance for business and its needs to start. There is one thing remember to be in mind for successful entrepreneur that how much cash in hand available and how much we will borrow. An entrepreneur must maintain the balance between equity and debt.
After you open your new business is not the best time to make research of your products. Because you need to do market research before launching to know the desire of consumer. This is the time to make improvments in your products, bulid loyal customer and business reputation and use your imagination and creativity.
Fail strategy
You think you do but you don’t, why? The big mistake do many entrepreneurs that to start research about product after launching. This is not the stage or time to make research after opening the business in market. So the result is you think bigger but you don’t do with strategy, and hence your entrepreneurial enthusiasm become fail.
Successful strategy
Ultimately, to be successful, a business must be make a profit. And also to be successful the 1st must provide a best services with low price charge, keep customer happy with your services quality. Make a strategy plan that fit for your business, hire skill workers, use your insights and then put the best decisions for the business.
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