Page 85 - AI Ver 3.0 Class 11
P. 85
So, an entrepreneur thinks of starting a business to fulfill this need.
For example, during the winter season, when the weather is very
cold, people like to sit in the sunshine and drink hot tea/coffee/
soup, so an entrepreneur can start a hot drink stall in a busy market. Customer's
Entrepreneurs often work with the idea that they are passionate Need
about. Not all entrepreneurs start with work as per market needs.
Some entrepreneurs use their own interests and talents to start
a business and serve their customers. Knowing your interests
and aptitudes is certainly important for entrepreneurs. It leads to Idea
self-confidence, and even others believe, and trust your abilities. Creation
Entrepreneur’s Own Interest or Talent
Entrepreneur’s
Entrepreneurs typically pursue a passion project. Entrepreneurs Innovative Own Interest
do not always focus solely on market demand and needs. Some or Talent
businesses begin by employing their own interests or talents to
assist customers. Identifying one's interests and talents is crucial for
entrepreneurs, as it boosts self-confidence and builds trust in their abilities. For instance, a textile design student may
capitalize on her passion to open a boutique selling various clothing items.
Innovative
Innovative refers to fresh approaches or original ideas. Businesses can be innovative in their ideas or processes. The odds
of a business expanding increase if the idea is original, as is the way it is implemented. For example, a restaurant offers
unique meal options for those who are ill, setting it apart from others.
Building Business Ideas
Most ideas come from either customer needs or inspiration from the behaviour of others. There are many ways to develop
innovative and practical ideas for businesses. Following are the various types of ideas that entrepreneurs look into:
Idea Description
Location based Entrepreneurs can develop ideas to meet the needs of customers in a
particular location.
Season based In the summer, people in big cities want to drink cold and healthy
drinks, but in the winter, they like hot drinks. Depending on the season,
entrepreneurs can develop ideas.
Based on Events Considering methods to assist guests at events is another approach to
generate business ideas. Various businesses, including wedding, parties,
decor and food business, etc. offers a unique perspective for generating
business ideas.
Ideas based on self-interest Entrepreneurs can find inspiration close to home in their own interests.
Someone who loves and excels at dance, for example, could open a
dance studio catering to both serious dancers and those seeking a fun
fitness option
Study based Your studies can be a gold mine for business ideas. Is there a lack of
good study resources? Create a website or app with helpful materials.
Solve student problems based on your own challenges and turn learning
into profit.
Entrepreneurial Skills-III 83

