Page 101 - AI Ver 1.0 Class 10
P. 101
• A lot of money is required to start any business: The amount of money you invest in a business varies
depending on the type of business. If you are selling an idea then no investment is required. Somewhere you
need very little money to begin and survive in a business. Depending on how much money you have or can
borrow, you can start a business with that much money. Once you make more money, you can put that into your
business to make it bigger.
Entrepreneurship as a Career Option
Every entrepreneur has a different reason to start his own business. Some
were sure from the beginning that they wanted to be self-employed and
work for themselves. Others after working for fixed hours and fixed salaries
as waged employed decided to shift to entrepreneurship. After getting the
awareness of the two career choices, it is important to understand how
taking the route of entrepreneurship benefits an individual.
A person who becomes an entrepreneur goes through a career process. This
process is as follows:
• Enter: It means implementing the idea by starting a business and entering a new market. For example, Amit is
starting a small stationary store in his locality.
• Survive: It means to remain in the competitive market in between other entrepreneurs dealing with the
same business. For example, there are many other stationary stores in the area. But still Amit is surviving the
competition and does well. He even bought the next-door shop and expanded his small store to make a big
fancy stationary outlet.
• 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 stationary stores in the same city. He even
plans to expand it to other neighboring cities as a new brand.
Some of the job opportunities in entrepreneurship are:
• Business consultants • Franchise operators
• New venture developers • Research and development executives
• Fundraisers and money providers • Educationist
• Freelancers in different fields • Financial advisors
• Market manager • Web developers
• Start or own a business • 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 audience for my business?
• Who are my competitors?
• How will I design 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?
Entrepreneurial Skills-II 99

