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• 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?
• Do I have a backup plan in case of a failure?
• What all will be at stake?
uiz Bee Answer the following questions:
1. What are the myths/misconceptions about entrepreneurship?
2. Write the roles of an entrepreneur.
3. What do you mean by the employment generation role of an entrepreneur?
4. Explain the term "Entrepreneurs are born not made".
REVISIT
▶ An entrepreneur is a person who makes his own business in an innovative manner and bears all the risk in the
hope of gaining much profit and contributing to the economy of the country.
▶ In the market, people buy products and services created by an entrepreneur.
▶ Entrepreneur use their creativity to come up with a new business idea that will fulfill 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 gathered 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 utilization 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.
100 Trackpad Information Technology-X

