Page 112 - AI Ver 3.0 class 10_Flipbook
P. 112

Before you plan to start your own business, you need to introspect yourself whether you should go for it or not
              by asking the following questions:
              •  Why do I want to start a business?
              •  Can this business idea give me money and respect at present and in the future?
              •  Who is my target customer for business?
              •  Who are my competitors?
              •  What are my marketing strategies?
              •  How much investment is required?
              •  What is my risk-taking capacity?

              •  What are my strong and weak points to run my business?
              •  What are the future prospects of my business?
              •  Do I have a backup plan in case of a failure?
              •  What all will be at stake?

                         Reboot


                     Identify the misconception about entrepreneurs:
                     1.   Kavita hesitated to launch her bakery because she believed only a groundbreaking concept could succeed.


                     2.   Aman  delayed  starting his  freelance  graphic  design  business,  thinking  he needed substantial  funding
                       upfront.


                     3.   Meera didn’t consider her thriving online store as entrepreneurship, believing only large companies count.






                        At a Glance


                     • An entrepreneur is a person who makes his own business in an innovative manner and bears all the risk in the hope
                    of gaining profit and contributing to the economy of the country.
                     • In the market, people buy products and services created by an entrepreneur.
                     • Entrepreneur utilise their creativity to come up with a new business idea that will fulfil the changing demands of the
                    customers.
                     • Entrepreneurs take risks in terms of time and money. They put their dreams into action so they need to be optimistic
                    to see the success of their dreams.
                     • An entrepreneur uses his knowledge, experience, and gather information to convert his dream into an innovative
                    venture.
                     • Entrepreneurs generate employment for both skilled and unskilled labourers by setting up large and small-scale
                    businesses.
                     • An entrepreneur does the maximum utilisation of resources for the production and management of his business
                    which plays an important role in the development of any country.
                     • It is not always a new idea that makes you an entrepreneur. You can take an existing idea and make your own
                    business out of it.




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