Want to be an Entrepreneur?

Abhijeet Dhanotiya
Published on: 22nd July 2014
Entrepreneurship is the process of identifying and starting a new business venture, sourcing and organizing the required resources, while taking both the risks and rewards associated with the venture and the person who takes this risk is an Entrepreneur. It is defined as an individual who organizes or operates a business or businesses.

What does it take to be an Entrepreneur?

You must have identified an existing problem been faced by the society and it is advised to have the proposed solution(s) which would reduce or remove the problem. However, you just have identified the problem but don't have any solution then there is a term Brain Storming (it is the process of generating ideas either individually or with group discussion).
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So, to be an entrepreneur you must have already identified the problem and must have the solution to fix that problem.

You just can't go and execute your idea directly to large scale with your target audience and hence the term prototyping comes in. Prototype refers to the smallest model of your large imagination which would test your concept, and with its feedback you can increase the efficiency of your design and/or prototype. Give that prototype to your target users at lowest cost to experience and give feedback of it and modify the necessary things as suggested by them. Once, you are ready and satisfied with your prototype you are now about to become an entrepreneur.

Sources of getting Fund

1. Angel Investor - those people takes some shares and usually they decide to fund or not by evaluating your prototype.

2. Venture Capitalist - These people decide to fund or not by seeing you doing your business; they usually don't invest in early stages.
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