Entrepreneurship

*Familiarize not memorize, multiple choice bitaw

Challenges of Entrepreneurship
1. Must be a DOER &WILLING TO WORK HARD
2. Personal Attention and Comprehensive Awareness
3. High Sense of Integrity
4. Emotional Stability
5. Build-in Self-Starting Mechanism

Starting Point to Entrepreneurial Success

1. Start to be your own
2. Explore the business environment
3. Be in control
4. Have a trusted financial adviser
5. Seek the advice of Professionals

Concept on Entrepreneurship
Entrepreneur derives from the French verb Enterprendre which means TO UNDERTAKE.

Entrepreneur- creator of enterprise. Innovators, wiling to take risk and generate unique
and profitable solutions to the present-day problems
Entrepreneurship – the process of creating an enterprise. Process by which individuals or a
group of individuals exploit a commercial opportunity.

Types of Entrepreneurs
1. Innovative Entrepreneurs- a person who creates something from nothing. An innovative
small business owner is a person who builds his business on real-life problems. An
innovative entrepreneur is a person who listens to potential customers.
2. Imitating Entrepreneurs- are those who immediately copy the new inventions made by
the innovative entrepreneurs. These do not make any innovations by themselves; they just
imitate the technology, processes, methods pioneered by others.
3. Fabian Entrepreneurs- are those who do imitate the successful innovations, but with
required caution.
4. Drone Entrepreneurs- drone entrepreneurs refuse to accept the changes. They are
lagging behind as they continue to work in
5. Social Entrepreneurs- person who pursues novel applications that have the potential to
solve community-based problems.
 Career Opportunities of Entrepreneurship
1. Business Consultant
2. Teacher
3. Researcher
4. Sales
5. Business Reporter

Recognize Potential Market

3 s of Opportunity Spotting & Assessment

1. Opportunity Seeking- They have endless curiosity to discover new or different ideas and
see whether these ideas will work in the marketplace.
2. Opportunity Screening- Developing a sufficiently detailed understanding of which
markets offer the greatest opportunity — and whether that opportunity is sustainable
3. Opportunity Seizing- the entrepreneur transforms his business opportunity into a reality
to address the compelling needs or demands of the market.