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A BUSINESS?
Basic reasons:
DO YOU KNOW
WHAT IT TAKES
TO BECOME
AN ENTREPRENEUR?
From the economist’s point
of view, the individual who
mobilizes all resources
(land, labor and capital)
of the enterprise is called the
ENTREPRENEUR.
The organization
and
assumption
of the corresponding
responsibility of a
business enterprise
in order to make profits.
1.Perceives opportunities in
the environment.
2. Takes risks to make use of
these opportunities.
3. Mobilizes capital for
business.
4. Introduces innovations.
5. Organizes labor and
production.
6. Makes decisions.
7. Plans ahead.
8. Sells his products at a profit.
IMPORTANCE OF PROFIT IN
ENTREPRENEURSHIP
BORN
OR
MADE?
3 MOST EFFECTIVE WAYS OF
DEVELOPING THE
ENTREPRENEURIAL SPIRIT
Academic
Skills
Managerial
W
W = Well – defined
= Written
?
?
If you are not attaining
the progress which
you think you are
capable of attaining, it
is simply because your
goals are
not clearly defined.
In goal-setting,
remember the following:
• Be realistic and precise
with what you want.
• Select those goals which
are important to you and
allow you to perform
your best.
• Focus on positive
objectives.
2.
Once you have set your
goals, do the following:
• Constantly review your
performance.
• Emphasize your
strengths and play down
your weaknesses.
• Be self-reliant.
• Try out new ideas.
• Accept changes.
• Remember that
there is always
“a first time.”
6.
Use your time wisely..
• Develop good
habits that make
different and
effective use of
time.
• Minimize back
tracking. Plan,
organize and
execute
systematically.
• Reduce the effects of
interruptions and
write reminders.
• Avoid gossiping
and talking non-
sense.
• Try to relax while
you work.
• Get used to
listing schedules
and things to do
and stick to
this listing.
• Set a deadline.
• Reflect regularly
on the way to
use your time
and improve your
way of using it.
7.
Be creative.
• Try to find ways of
getting the most out
of limited time and
resources.
• Do away with
unprofitable
traditional methods
and adopt new
improved ways.
8.
Be a winner.
• Aim to succeed rather
that just to avoid failure.
• Focus on maximizing
gains rather that
minimizing losses.
• Focus on achievements
rather than rewards.
• Be self - motivated.
• Be action - oriented.
• Be a finisher.
9.
Be a leader.
• Develop appropriate
leadership qualities and
behavior.
• Experience is the
best teacher.