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Entr epr eneur s of  the F ir st G ener ation
             irst generation entrepreneurs are persons  ho have no prior business e perience.  hey can come from a variety of ages
            and backgrounds. A person  ho starts at the age of     ithout any entrepreneurship history is also a first generation
            entrepreneur, as is someone  ho starts at the age of   .


                   Functions of an Entrepreneur

             he follo ing are some of the essential functions that an entrepreneur must accomplish
            •   Identi ying business opportunities:  here are numerous opportunities in the corporate sector.  hese are based
                on ever changing human requirements such as food, fashion, and education.  he general population is una are of
                these opportunities.  o ever, an entrepreneur detects opportunities faster than others. As a result, the entrepreneur
                must have his or her eyes and ears open at all times.  o become an entrepreneur, one must have vision, creativity,
                and innovativeness.
            •   Putting ideas into action: Entrepreneurs must be able to put their ideas
                into action.  hey should be able to gather information on ideas, products,
                and processes in order to meet market demands.
            •    easibility study:  ntrepreneurs undertake feasibility studies to determine
                the  commercial  viability  of  a  ne   product  or  service.   hey  anticipate
                problems and evaluate the number, quality, pricing, and sources of inputs
                needed  to  run  the  business.  A  'business  plan'  or  'pro ect  report'  is  a
                roadmap of all actions.
            •   Resourcing:  o establish a successful business, an entrepreneur requires a
                variety of resources such as money, machinery, ra  materials, and labour.
                An entrepreneur's primary responsibility is to secure the timely availability
                of all of these resources.
            •   Establishing an enterprise: In order to establish an enterprise, the entrepreneur may need to complete several
                legal processes.  he individual must also strive to identify an appropriate location, design the premises, install
                machines, and do a variety of other tasks.
            •   Managing the business: One of the most crucial functions of an entrepreneur is to run the business.  he individual
                is responsible for managing the staff, materials, finances, and organising the production of goods and services.  he
                individual must promote each product and service after assuring adequate returns  profits) on investment. Only a
                 ell managed organisation achieves the intended outcomes.

            •    ro th and development: Once the firm has achieved the targeted ob ectives, the entrepreneur must look for a
                higher goal for its gro th and development.  he individual is not satisfied  ith simply completing a goal, but al ays
                strives for greatness.


                   What Drives an Entrepreneur's Motivation?

            Every human being is born with the desire to create and procreate, as well as to dream and work to realise those
            desires.  o ever, not every human being is capable of dealing  ith failure. An entrepreneur, on the other hand, has the
            ability and  illingness to overcome any obstacle that stands in the  ay of the person's entrepreneurial endeavours.  he
            individual discovers  ays and means to follo  one's dreams and achieve one's goals.  et us learn about some of the
            qualities that motivate an entrepreneur.

            Ex cellence as a S tandar d
            An entrepreneur consistently sets high standards and seeks to achieve e cellence by  orking hard and being innovative.





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