Page 79 - Ai_C10_Flipbook
P. 79
• Grow: It means after attaining a reputation and stability, an entrepreneur plans to expand the existing business.
For example, after a few years, Amit has opened a chain of three more stationery stores in the same city. He even
plans to expand it to other neighboring cities as a new brand.
Some of the job opportunities for entrepreneurship are:
• Business consultants • New venture developers
• Fundraisers and money providers • Freelancers in different fields
• Market manager • Start or own a business
• Franchise operators • Research and development executives
• Educationist • Financial advisors
• Web developers • System analysts
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.
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.
Entrepreneurial Skills-II 77

