Page 89 - Web Applications (803) Class 12
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• Community Concerns: Look for problems that are important to your community. Starting small might have a big
payoff in some cases. Identify inefficiencies, analyse how an innovation can assist, and weigh the dangers.
• Personal experiences: Many significant world-changing ideas emerge from an entrepreneur's life experiences and
obstacles. If you want to be an entrepreneur, you should listen to and be inspired by the personal experiences of
great entrepreneurs. Their experiences may teach you valuable lessons in entrepreneurship and provide insights
into certain company tactics that you can use to achieve success.
• Discuss with others: Talk to like-minded people, get active in social groups, and join local startup groups to
conduct research with others. Many times, conversing with others opens up new avenues of opportunities. It is also
beneficial to master the subtleties of business.
It is all about finding the appropriate opportunity and taking the leap of faith for an entrepreneur. Mark Zuckerberg
had the basic concept of communicating with his undergraduate pals via the Internet. His simple idea launched a ‘social
revolution’, and today, practically all of us are connected via ‘Facebook’.
Brainy Fact
Kalpana Saroj, India's first self-made female entrepreneur, rose from slums to become CEO of
Kamani Tubes, a company with a $112 million personal asset. She revived Kamani Tubes, negotiating
with banks for new loans, resulting in a profit of 3 crores. Since then, she has ventured into other
businesses, generating an annual turnover of around 2,000 crore INR.
Startups
Scan the QR code or visit the following link to watch the video: What is a Startup? | Startup Meaning and
Types | The Money Gig
https://www.youtube.com/watch?v=9vpnrNcAi9s
So, you can understand from the video that a startup is a business that is in its early stages of development. A startup
and a regular company venture are not the same, especially when it comes to growth. A startup is frequently financed
by the founders until the business gains traction and attracts outside money or investment.
These days, we hear a lot about startups being launched.
It could be in the field of technology, health care, food,
virtual reality, or something else.
Let us learn more about startups:
• Startups can be launched with a small amount of
capital. Most startups thrive on technological ideas
or offer technologically-driven solutions. Many
businesses like Swiggy and Zomato, for example,
have begun to offer online food delivery.
They collaborate with food service providers or
restaurants to aid with home delivery of food using
a comprehensive app.
• Startups seek financing in a different way than other small businesses. They rely on funding provided by angel
investors or venture capital firms, whereas small businesses rely on loans and grants. Many Indian firms have also
garnered funding from worldwide investors.
Entrepreneurial Skills-IV 87

