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Definition: Entrepreneur
• Is a person who works for himself and who accepts financial risks.
• Who is willing to take upon herself or himself a new venture or
enterprise and accepts full responsibility for the outcome.
Entrepreneurship
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Importance of entrepreneurs in country?
Promotion of entrepreneurship
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Characteristics of entrepreneurs:
Conceptual thinking:
Networking:
Rick taking:
• Tries new things (stretching beyond what has been done in the past).
• Learns how to assess choices responsibly.
• Weighs outcomes against values and responsibilities.
Commercial attitude:
Decisiveness:
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supporting social innovation and entrepreneurship. Government
leaders who embrace any or all of these roles are the new public
innovators: government officials who look to citizens and
organizations in the private and nonprofit sectors as partners in
order to accelerate innovative, results-oriented, and sustainable
solutions to our nation’s, and the world’s, toughest social problems.
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Some of the most successful and happy people we know
are entrepreneurs who created a business that’s in perfect synchronicity with
what they want out of life. If you do what you love, you’ll work harder, better
and more happily.
Choosing the business model: business can be start a business part-time or
full-time, at home, online or in a brick-and-mortar commercial location!
The key is to choose a business model that fits your Life Plan. This will ensure
that you spend the right number of hours each week, take the right level of
risk (some models involve more risk than others), are practical in terms of
your financial wherewithal, and gain the kind of satisfaction and success
you're after.
Choose the business structure: there’s no universally “right” structure for all
businesses.Choosing the best one depends on the specific needs you
and your business have. Before setting up your company, it’s important to
understand all the options available to you—in particular, you’ll want to
evaluate the advantages and disadvantages of each business formation,
paying special attention to the tax implications and government formalities.
Create key business assets: Your company assets are only as good as
your ability to protect them. This is especially true where intellectual property
is concerned. Whether it’s your company name, logo, latest invention or best-
selling product, it’s imperative that you take certain steps to secure your
ownership rights.
Find the funding: This is a critical step. You’ve got to find funding for your
business but ensure that it’s the right kind of funding.
Organize logistics: Logistics are not the most exciting aspect of starting up
a business, but having your logistics in order can mean the difference
between success and failure. Having your books in order, your contracts
buttoned up, your money safely managed and your downside covered are
each critical to your personal and business future. Accountants, lawyers,
bankers, insurance agents—the big four—are some of the people that can
help you get organized and put you on a path to starting up smart. These
service providers will be instrumental as you grow, too.
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Find great people: In a small business, the impact of a single team
member can be enormous. Every person you add to your team
must be a star.
Establish a brand: One of the most important assets you can develop for
your business is a powerful brand. Brands are not just logos or tag lines.
Brands are the culmination of who you are, how you’re different from your
competition, and why a buyer should do business with you.
Market and sell: This last step in our start-up process is all about getting the
word out about your business so customers come through your door (or
perhaps to your homepage).
First and foremost, you’ll need to study up on your target audience to develop
a marketing message that will resonate with them.
Once you’ve got a grasp of how to best express the “special sauce” of what
you offer, make sure you maintain that message consistently throughout your
marketing efforts. It should be reinforced repeatedly to build on your brand
identity and to give people a clear reason to be interested in your business.
Table of contents
1. Definition…………………………………………………………………....1
2. Difficulties becoming entrepreneur……………………………………....1
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3. Importance of entrepreneurship for a nation……………………………2
5. Characteristics of entrepreneurs…………………………………………3