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Journey to success as an Entrepreneur

What is the Role of the Entrepreneur?


Opportunity recognition Market uncertainties Dealing with the future Risk taking Businesses, financial and personal Resource gathering Profits/Reward

Profile of Entrepreneur

Self belief Passion and vision Risk taking Persistence Hard work Commitment to people

Skills & Competencies

I can.Communicate I can.... Present I can. Represent my opinion I can. Co-ordinate tasks I can. Develop alternative plans I can. Hand tasks over to a 3rd party I can. Co-operate with others I can. Negotiate I can . Sell I can. Organise and plan I can. Handle numbers I can. Handle technical devices My literacy is . My interaction with people is .

Reasons for Entrepreneurial Success


Hard work and long hours Dedication, drive, enthusiasm and belief in the idea Unsatisfied market demand Managerial competence Luck Strong control systems Sufficient capital

Successful and Unsuccessful Entrepreneurs

Successful
Creative and Innovative Position themselves in shifting or new markets Create new products Create new processes Create new delivery

Unsuccessful
Poor Managers Low work ethic Inefficient Failure to plan and prepare Poor money managers

Hurdles in starting up a a business

Lack of the right business idea Complicated regulatory efforts Own financial risk Lack of courage Lack of right founding partner Lack of equity Lack of debt capital Know-how-deficit

Hurdles in starting up a a business

Lack of contact clients/customers Economic cycle Business environment Fear of failure Support by family and friends Lack of time Lack of entrepreneurial skills

THANK YOU

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