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Brainy Fact


                        Here are some fascinating facts regarding Indian entrepreneurs:
                           • Number of entrepreneurs: India has 58.5 million entrepreneurs.
                           • Gender: 86% of Indian entrepreneurs are men, with 14% being women.
                           • Total entrepreneurial activity: The rate of total entrepreneurial activity in India in 2021 was 14.4%.
                           • Startups in technology: India has approximately 50,000 startups, including 8,900–9,300
                          technology-led startups.
                           • Every day, 2–3 tech startups are founded in India.



                        Generating a Business Idea

                 A business idea is a solution that entrepreneurs think about to serve their customers. The idea  determines what business
                 an entrepreneur pursues to make a profit. The idea can be a product, service, or hybrid model. There are a few important
                 points to consider while thinking of an idea.


                                               Business Idea


                                                          Understanding
                                                           the market

                                                                     Planning the
                                                                       business

                                                                                 Growing
                                                                                 Business




                           Reboot                                                                   Critical Thinking


                      1.  What is the purpose of a business idea?


                      2.  What do you understand by critical thinking?






                        Customer’s Need

                 An idea must satisfy the customer’s demand or need. A business idea can occur from an existing need in the market
                 or from a desire to improve what is already in the market. The product or service may not satisfy the customer’s needs.
                 Hence, there is a need to fill the gap. 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. Entrepreneurs often work with the idea
                 that they are passionate 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 aptitude is certainly
                 important for entrepreneurs. It leads to self-confidence, and even others believe and trust your abilities.
                                                                                        Entrepreneurial Skills-III  77
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