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Charms and Challenges

This document discusses entrepreneurship, including the charms, challenges, and characteristics of entrepreneurs. It defines an entrepreneur as someone who develops, organizes, and manages a business venture to make a profit while accepting associated risks. The charms of entrepreneurship include self-employment, being the decision maker, setting goals, achieving satisfaction and financial rewards, and generating employment. However, challenges include working long hours, raising capital, hiring talent, marketing with limited budgets, and dealing with stress and potential failure. Key characteristics of successful entrepreneurs are risk taking, initiative, creativity, seeking information, seizing opportunities, communication skills, leadership, vision, time management, and persistence.

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Om Prasad
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371 views

Charms and Challenges

This document discusses entrepreneurship, including the charms, challenges, and characteristics of entrepreneurs. It defines an entrepreneur as someone who develops, organizes, and manages a business venture to make a profit while accepting associated risks. The charms of entrepreneurship include self-employment, being the decision maker, setting goals, achieving satisfaction and financial rewards, and generating employment. However, challenges include working long hours, raising capital, hiring talent, marketing with limited budgets, and dealing with stress and potential failure. Key characteristics of successful entrepreneurs are risk taking, initiative, creativity, seeking information, seizing opportunities, communication skills, leadership, vision, time management, and persistence.

Uploaded by

Om Prasad
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Entrepreneurship

Charms, Challenges
and
Characteristics
Who is an Entrepreneur?
• A person having capacity and willingness to
develop, organize and manage a business
venture along with any of its risks in order to
make profit.
• The entrepreneur is able to recognize the
commercial potential of the invention and
organize the capital, talent, and other
resources that turn an invention into a
commercially viable innovation.
Entrepreneurial Charms
• Self employment is the best employment.
• You work for yourself.
• You are the decision maker.
• You set-up your own goals.
• Enjoy satisfaction of achieving your goals.
• Generate employment.
• Reap financial rewards.
• Social status.
Entrepreneurial Charms-continued
In nutshell, charms of being an entrepreneur
can be briefly explained as:
• To be independent.
• To prove your competence and skills.
• To do something unique.
• To acquire greater economic rewards.
• To excel.
• To become a bread winner for others.
Challenges before an Entrepreneur
• While being an entrepreneur does have its
benefits, it also has its challenges.
• When entrepreneurs first start out, they are often
considered a one-man show, meaning they are
responsible for doing everything on their own.
• This usually requires working really long hours,
juggling numerous projects and having to
constantly come up with new ideas.
Let us look into some challenges.
Challenges before an Entrepreneur
(continued)
• Courage to start your own business
• Is your idea viable?
• Raising Capital
• Hiring right talent
• Effective marketing on limited budget
• Financial Security
• Dealing with stress
• Facing Failure
Characteristics of Entrepreneur
• Ideally speaking, anyone who has the
capacity to start a venture and
undertake risks can become an
entrepreneur. But not all
entrepreneurs are successful. There
are certain characteristics of
entrepreneurship that make for a
successful venture.
Characteristics of Entrepreneur
(continued)
• While there can be as many characteristics
of an entrepreneur as there are people in
this world with opinions, there are some
characteristics that are considered
indispensable or necessary in an
entrepreneur. Let us discuss each of them
thread bare to understand the concept
properly.
Characteristics of Entrepreneur
(continued)
• Risk taking ability
• Initiative
• Creativity
• Information seeking
• Grabs and acts on opportunities
• Communication/Negotiation skills
• Problem solver
• Confidence/Commitment
Characteristics of Entrepreneur
(continued)
• Leadership qualities
• Visionary
• Time management
• Persistence
• Knowledge and Skills
Person would not have all the characteristics,
but some of them can be imbibed by acquiring
knowledge and determined efforts.
THANK YOU VERY
MUCH
ALL THE BEST

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