Entrepreneurs

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“What is Entrepreneurship?”

“Entrepreneurship is the method by which people pursue

possibilities without respect to the sources they currently manage.

The nature of the entrepreneurial role is recognizing possibilities

and putting useful concepts into practice.

The collection of tasks called for by this operation can be performed by

either a person or a group and typically requires

creativity, initiative, and a readiness to take risks.”, Barringer

FUNCTIONS OF ENTREPRENEURSHIP

• Innovation
• Managerial Skill
• Decision Making
• Risk-Taking
• Organizing
• Product Analysis and Market Survey
• Collects Necessary Capital
• Recruitment of Labor
• Develops an Idea and Explores Opportunity

TYPES OF ENTREPRENEURS

ACCORDING TO THE TYPE OF BUSINESS

• Business entrepreneurs:- who start business units after generating concepts for new products/services.

• Trading entrepreneurs:- who undertake buying & selling of goods but do not engage in manufacturing.

• corporate entrepreneurs:- who establish and manage a corporate form of organization that has separate legal existence.

• Agricultural entrepreneurs:- people who undertake activities like raising and selling or buying crops, fertilizers, etc. 

6 Ways to Succeed as an Entrepreneur

•  Put Customers & Product First

Often entrepreneurs get caught up networking and seeking investors. They become the product itself Instead, focus on connecting with customers, providing the best service, and getting your product out there.

• Solve Actual Problems

Lock yourself in a bedroom, tune out disturbances and concentrate on actual problems you need to solve. There are too many things out there pretending to be important, especially in business. Sometimes, that’s not what you need.

• Embrace Social Media

Provide the whole world access to your product and services. Create and share content consistently. Market yourself and have a presence in the space that so many people are constantly interacting in.

• Get Help From Freelancer

You don’t need the same kind of real estate, infrastructure, and human resources you might have needed 10+ years ago, to start a business. Take the help of SaaS tools and marketplaces (i.e. Fiverr) to help you cut startup charges.

• Deliver Real Value

You can’t just sell goods and call it a day. It’s important to give great service and assistance to your consumers and also good content, offer insightful information, tutorials, and other types of interactive communications. Going the extra step will depart you from the pack.

•  Always Learning

Expand your knowledge base as an Entrepreneur. As you constantly learn things you’re new and unfamiliar things, your bank of knowledge expands. This helps you solve more problems, identify new opportunities, and fuels your creativity.

“Entrepreneurship is living a few years of your life like most people won’t so you can spend the rest of your life as most people can not.”

– Warren G. Tracy’s student