Essay On Entrepreneurship Skills
ENTERPRENEURSHIP SKILLS DEVELOPMENT
The basic concept of entrepreneurship is about developing a vision of what a company should be, and then executing that vision by translating it into concrete steps and following through.
Who is an entrepreneur? An entrepreneur is a person who organizes and operates a business or businesses, on greater than normal financial risks in order to do so.
Entrepreneurs tend to be personally involved in building and shaping their companies and develop strategies and systems that go beyond these limits.
Enterpreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.
Entrepreneurship skills are associated with competence
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Business Strategy
It’s easy to set your mind about the “right-now” aspect of your business, because the results are easy to see. But what about the long-term challenges and goals involved? How often are you projecting about those?
Without a close eye on your business’ strategy and skilled assessment of that strategy relative to the industry and your competition, you can’t hope to grow it over time and remain competitive in the marketplace.
Strategic key points include:-
Business niche ¬– A good entrepreneur can build his business by concentrating on small and key market areas by identifying areas that are been addressed poorly or not at all by other firms, and developing and delivering service to that market.
Business Placement – Choosing a business location is one of the most critical decisions an entrepreneur has to make. This is achieved by considering factors like competition, local labour market and ability for future growth.
5. Proper Financing
While you don’t need to be an accountant or Finance Manager to run a successful business, you should still have a good understanding of your finances, profit margins, cash flow and funding. The more comfortable you are with all of these figures, the more confident you’ll be, and the better decisions you’ll make while running your
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