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Improving Business Growth
        After starting a business, entrepreneurs need to think about how to continue to improve and grow by adding value to
        their business for attracting customers. The following principles need to be considered:
        a.   Quality: Business owners can improve their business by improving the quality of the products or services offered to
            their customers. This helps them get noticed in the business and also justifies higher prices.
              More cash flow will help your business grow. For example, in case of tea business, entrepreneurs can improve the
            quality of the product by offering various varieties of teas in different quantities.
        b.  Scale-up: Scaling-up means growing your  business  by attracting  more customers. There are a variety  of ways
            companies can reach out to more customers. One such path is to go to different geographical locations where you
            can find new customers. For example, sell tea in various markets, office locations where many people work, rather
            than in any highly competitive market.
        c.   Offer Alternatives: Another way to grow your business is to provide some offers to your customers. Alternatives
            mean products and services similar to the ones already in the market. For example, selling phone covers with mobile
            phones.
        In order to succeed, an entrepreneur should be willing to
           • Use his imagination/ intuition
           • Have a tendency to take moderate risk
           • Learn to enjoy his freedom of expression and action

           • Look for economic opportunities
           • Believe that we can change the environment
           • Analyse the situation and plan action accordingly
           • Involve oneself in activity
        Entrepreneurship requires a high level of mental strength and determination because, unlike traditional vocations, there
        is no right or wrong path to success. The competition is fierce, and innovation is essential to meet the obstacles that
        come with beginning a business. Entrepreneurs must also be willing to take risks and fail. The crucial point is that when
        entrepreneurs fail, they attempt to fail quickly and inexpensively. They experiment, analyse the results, figure out why
        they failed, evolve, and iterate.



                  At a Glance

              •  An entrepreneur is a person who tries to satisfy the needs of a customer through new ideas or business
               methods and makes a profit in return.
              •  Entrepreneurship is the process  of developing a business  plan, starting and  running  a business  with
               innovation, meeting customer needs and generating profits.
              •  A manufacturing company is involved in developing the raw materials into finished products to meet the
               needs of its customers.
              •  Trading companies do not manufacture goods or products. They only facilitate the process of the finished
               product to be brought from the production unit to the purchaser or customer.
              •  A business activity that you can't see, but that benefits the buyer, is called a service business.
              •  Every entrepreneur has certain unique qualities that make him successful.
              •  Confidence means believing in yourself and your approach. Confidence helps business owners take the first
               step to start a new business, and then try new things to grow their business.
              •  Independence  means  the  ability  to  work  alone  and  the  self-confidence  to  make  decisions.  It  is  the
               entrepreneur's responsibility to decide what kind of work to do and how to do it.
              •  Open-mindedness means being open to trying new things and being open to take feedback from others.


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