1. INTRODUCTION TO
ENTREPRENEURSHIP
Prepared by:
• Vivek Hinduja

2. MEANING
• A person who organizes and operates a
business or businesses, taking on financial risk
to do so.

3. MEANING
• An individual who, rather than working as an
employee, runs a small business and assumes
all the risk and reward of a given business
venture, idea, or good or service offered for
sale. The entrepreneur is commonly seen as a
business leader and innovator of new ideas
and business processes.

4. BASIC
REQUIREMENTS

5. Master the art of negotiations
Negotiation skills are used daily.
Create a win-win situation.
Win-Win arrangements is the basis for
building long-term and profitable business
relationships.

6. Remember, it's all about the customer
Your business is all about your customers, or
clients,
After all, your customers are the people that will
ultimately decide if your business goes boom or
bust.
Everything you do in business must be customer
focused, including your policies, warranties,
payment options, operating hours, presentations,
advertising and promotional campaigns and
website.

7. Build a top-notch business team
 No one person can build a successful business alone.
It's a task that requires a team that is as committed
as you to the business and its success.
 Your business team may include family members,
friends, suppliers, business alliances, employees,
sub-contractors, industry and business associations,
local government and the community.

8. Invest in yourself
Read business and marketing books,
magazines, reports, journals, newsletters,
websites and industry publications.
Attend business and marketing seminars,
workshops and training courses.
In short, never stop investing in the most
powerful, effective and best business and
marketing tool immediate disposal- YOURSELF

9. RISKS OF BEING AN ENTREPRENEUR

11. Poor financial controls

12. Competing with other businesses
merely on selling price

13. Consumes the time you devote to
family and friends.

14. ENTREPRENEURIAL PROCESS

15. THINK OF A GREAT IDEA
Service people
need or a product
that would make life
easier or both.
Remember, ideas
don’t count, it’s
what you do with
them that counts.
“No idea is
original”

16. BUSINESS
PLAN
Product description:
develop your product.
What will it look like?
What materials will you
need? Make your product
eye-catching.
Market Analysis: Who is
your market? Where do
they shop? Where are they
located?

17. BUSINESS
PLAN
Competition: Who is
your competition? What
are their strengths? How
will you beat them?
Marketing: How will you
market your product?
What is your tagline?
Sales: Where will you
sell? When will you sell?
What is your estimated
sales forecast?

18. BUSINESS
PLAN
Manufacturing: How do
you make your product?
What materials do you
need to make your
product? What is your
COGS (cost of goods sold)?
Finance: how much
money do you need to
start your business? What
is your gross profit?

19. GET
INVESTORS
Make a presentation or
something of the sort
explaining why your
product is the best,
including each part of your
business plan and present
it to Venture Capitalists.
If you can get the
business started without
spending a lot of money,
that might be your best
route.

20. SELL
Sell and distribute
your product. If you're
getting revenue, then
you're in business.
If you are unable to
generate revenue,
then you can’t survive
in the market.

21. NETWORK
 Hang out with
entrepreneurs. By
meeting
entrepreneurs socially,
you gain contacts and
hear about
opportunities.

22. IMPORTANCE OF
ENTREPRENEURS

23. CREATE JOB OPPORTUNITIES

24. CREATING WEALTH
(for themselves and others)

25. HELPS LARGE SCALE FIRMS