Enterprenuership is a progressive process of vision, creating positive changes which impliment new ideas through application of energy and passion.
[MYTH 1] Enterprenuers are doers not thinkers
Enterprenuers are thinkers and doers at thesame time, they think and develop on how to create new ideas before putting it to action. They think and work-hard day-to-day in other to improve there income and enable development.
[MYTH 2] Most enterprenuerial initiative fail
Enterprenuers normally analyse on there business before making any move on which, how and what type of business he or she will run. He will also take analysis on the advantages and disadvantages of the business. With such a well beginning, it is difficult for a business to fail
[MYTH 3] Enterprenuers are extreme risk takers......gamblers
Enterprenuers analysis the possibility of success and failure before starting business. They only engage on business with high tendency of success,plan well and manage with full concious. They are not gamblers but business men with an expected planed goal to achieve!
wow, i am impressed
ReplyDeleteEntrepreneurs are born not made:
ReplyDeleteMost entrepreneurs are self-made as a result of their life struggles and ambitions, hence it also means that entrepreneurs’ are not really educated to the highest level, but they are full of ambitions and risk takers.
They are full of ambissions but are not fully risk takers, they work base on calculated risk. They make analysis before making decisions and do not always risk all their resources on one idea.
DeleteBusiness men and Women don’t forget there are a number of successful Women entrepreneurs’ as well. Lol
ReplyDeleteEntreprenuers include both men and women
Deletean inteesting Vedio: BCS Entrepreneurs SG & YPG - Young Entrepreneurs Go4enterprise
ReplyDeletehttp://www.bcs.org/content/conWebDoc/47962?utm_medium=email&utm_source=BCS+The+Chartered+Institute+for+IT&utm_campaign=1622463_pro190912&dm_i=9U7,YRWF,5M8Y12,2WU7W,1
agreed
DeleteEnterpreneurship is about getting self employed to earn income:
ReplyDeleteThat’s not entirely true, some entrepreneurs’ are there to fulfil their innovations, explore risk and help others to create a better society, rather than themselves. The income comes as a bonus to self-satisfaction.
What constitutes the entrepreneurial mindset?
ReplyDeleteEJ: Anyone it’s about who feels passionate about pursuing something that could be a business. I think as long as you are committed to hard work, to seeing an idea go through, being persistent and not giving up that gives you the credibility to have the entrepreneurial mindset. Most people in Britain have it. We run Start-up Saturday for those with an idea and I see people from all backgrounds: those in employment, mums, students, people who have spotted a gap in the market, those who have a hobby they want to turn into a living and more.
TB: The creative element is important because you need to be able to spot an opportunity and to think about it in a way that brings you to a solution that no-one else has seen. Sometimes that’s about you as a creative person or about timing - such as a technology that may not have been there in the past. You need the ability to look at things a bit differently. There are a lot of ideas of risk as being part of the entrepreneurial mindset. I don’t think it’s a desire or appetite for risk that needs to be there, but it does need to be something that people are comfortable with. They need to understand its balance against potential rewards. A low-risk low-reward business is just as much about being an entrepreneur - and it might be the only thing you want to do - it’s a valid entrepreneurial contribution. For me there are lots of people out there with the entrepreneurial mindset. People who do things on the high street, doctors who set up a new NHS practice, architects, flower shops, newsagents - they are all entrepreneurs, which is about planning for tomorrow without regard for the resources at hand today.
CT: I’d like to move the emphasis to a degree back onto the word risk - I can’t quite see what would distinguish an entrepreneur from other businesses if it’s not the word risk. It doesn’t have to be financial; it could be in terms of our own identity, where we position ourselves in society. So being able to do that and to potentially fail is an inherent part of entrepreneurship. I think that creativity is vital, but also the ability to genuinely, in a balanced way, judge whether you have a competitive advantage. Jack Welch said if you don’t have competitive advantage don’t start a business. I would say that comp advantage is vital, and I’m not an advocate of that being a USP - you could just be better at doing something other people do, you could just work harder. You have to be very clear about why what you’re doing will be make a difference. I am opposed to USP or ‘how is your product different?’ It doesn’t need that. The other thing that is very pertinent to my definition of an entrepreneur is the ability to recognise that you need very different skills at different stages of the process. It is like bringing up a child - there’s a huge difference between a three-year-old, a ten-year-old, a teenager and a young adult. I regard my business as being a teenager. I’m proud of it and very excited about where we are, but now it needs to grow up and do other things. You are constantly faced with that need to keep adapting.
TB: This feeds back to the mindset. There is a starting impression in the minds of many people that haven’t experienced entrepreneurialism that the risky point is the start and that there is some wonderful line on a chart that when passed is safe. In fact it starts and grows and then plateaus, then grows a bit more. Then you have to risk it all to grow again, and then risk it all again. At any point it could fail - and then you could be right back down the snake to the start and lose everything. It’s a haphazard, chaotic process.