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    Entrepreneur Skills s4

    Uploaded by

    nayak p

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    © All Rights Reserved
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    Entrepreneur Skills s4

    Uploaded by

    nayak p
    15 views5 pages

    Original Title

    entrepreneur skills s4

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    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Download as pdf
    15 views5 pages

    Entrepreneur Skills s4

    Uploaded by

    nayak p

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Download as pdf
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    Step 2 Step 3 content executive aamonary Per reeceastn ot wy te plan t¢ reece! Move We cannysstive tI Wave Maa aya management “Company denertption Gatos your corrany vaeon ait goals and worvioes Beene oF proctor or service ie inchated fm your plan Figure 4.1 Business Plan Cor g Your Seed Funding ou have chart Get inanceyMoney : Raisin sry important, Once This phase of your entrepreneur jal process is very mportant Hepa the full financial Implications of the project raise MONEY [OF YOUF Ve ok investment the business plan, you have und Know the execution plans, you are r startup ie government grants, wess will be one of th convinced wacly to see Joa from many a bank loan ete You can get finances for you investment from angel ineestors Getting funding for yo won't invest in you unless about your abilities and passion. The best way to raise working capital for any gyayigay” om family and friends ‘ould either s only pay for the solutions $ ause they hardest steps. People { about your busine busin ‘and until they are ¢ stom 4 not for flashy products, business idea is usually f ‘These individuals already trust you and w ‘or loan you the money not bec se they believe in you. Understand Customer Needs to get Paying Customers ‘Aim of any entrepreneurship venture isto solve a specific problem. Any customer wor't pay for funny advertisements, big celebrities endorsing your products, flashy products ee 4 customer pays for something that solves his/her problem. It is not the products, but ‘you must carefully examine the needs of customers the solutions that sell. So, in this step, so that your idea/product must fulfill these in order to become sellable. Here an important thing to consider is the costs involved be i to. con is the ecause while solving a problem, Ay keep in mind the buying capacities and buying habits of the es ‘ product or idea intended for middle class customers must not be highly priced a . product/idea intended for high class customers must cater to their expectations like five star amenities etc, The goal of this step is to acquit \cquire as many customers as " es ee eee and do everything to coy retain iene a way possible. Happy No business or venture 's ae y to success of any venture and this successful without paying = step lays the foundation of the same. customers, oe invest-in believe in your idea, but beca A.190 ACTIVITY 4 i yous think pow. k of the Think of a problem around You hase solution _ My 9o that it may culminat Pov service that will solve the problem Then work © "A ful Px ri {) Discuss business idea briefly an ma (i) Write a sample business plan for your ide UNIT IV: Entrepreneurial Skills Anuja quit her i providi innovative wedding planning solutions usin, ‘ wea ac Pick "he best definition OF 37 Secpreual "hl (@) An entrepreneur is the on ‘who makes money: solutions for @ specific problem: rovative and practical solution ne who provides an Int financial risks with an aim of making a pug! apna ‘and makes money faciny eae « 2 Looking at Anuja's entrepreneurial success, her cousin Akhil now wants to be an entrepr ihe needs an idea which can be converted into entrepreneurial venture, Ty, ways to generate these business ideas ? Whig (@) Original ideas (b) Pick from registered idea database (d Replicate a tested, existing venture jon, is able to successfully decide abou ‘and efforts he is now ready to launchit (b) Organise resources (d) Make business decisions (f Do alll the work on his own 4 started collecting disposed and dry flowers from various reli ious places. ssa a mee q pee people. What type of enterprise has Amu started ?

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