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Consultancy - Entrepreneurship Management

Entrepreneurship can be defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity.

But being an Entrepreneur isn’t a cake walk as defined above. Let understand this.

Did you Plan to commence an own business by being fascinated of seeing the luxurious life of most of friends who were entrepreneurs?

● As they were enjoying their work by being their own boss.
● They were making lots of money and were not facing issues which are normally faced by such people who are employed
     by others.

Did all these advantages attract you towards entrepreneurship? Due to this magnetism you put your step forward in the field of entrepreneurship. ? And now after a few months, realized that you had committed a big mistake by making entrepreneurship as a career?

One needs to have a mind-set or the skills which are required for being an entrepreneur. It is not at all easy to handle the business issues, handle the employees and at the same time manage the work on time as well. Lack of all these skills could force one to close down the business and look for something else as a career other than entrepreneurship.

The above mentioned example clearly states that although, entrepreneurship is a highly attractive and beneficial field to be approached as a career, it requires lot of knowledge as well as skills for getting success. These skills are to have a vision, be confident, motivated, have the ability to work under pressure, have a sense of planning, etc. Apart from all these skills, the one which is of very important is to have the right knowledge.

Few Problems faced by Entrepreneurs:
1. Inadequate Finance
2. Lack of sustainable Support
3. Lack of technical know-how especially in Case of Beginners
4. Lack of resourceful Motivation:
5. Deficiency of Support In Case of Alteration in Line of Business or Operations

For all that is discussed, it’s clear that knowledge and management skills are the keys to be a successful Entrepreneur.
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