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How to become a successful entrepreneur
Published on 11.01.2021
What is Entrepreneur
Entrepreneurs are defined as anyone who takes a risk with the goal of monetary profit. He invests all the money, harvests all the risk, and reaps the rewards. Some of the notable entrepreneurs around the globe are Elon Musk, Jeff Bezos, Bill Gates, Mark Zuckerberg, Dhirubhai Ambani. People often misunderstood the difference between the Businessman and Entreprenuer. Businessmen are the one who enters the existing business world and contribute to the existing business or product, whereas the latter enters the business world by creating or innovating new idea or product. In other words, Businessman refers to the market player, entrepreneur refers to the market leader.
Current Scenario
In the current trend, entrepreneur has become the most fashionable word. There are currently 58.5 million entrepreneurs in India. Of these only 14% percentage of women becomes entrepreneurs. However the report says that 90 % of startups fail. The major reason owing to the failure is lack of idea or innovative idea. It is not easy to become a successful one. It needs all your time, patience and idea being the most important thing.
Tips for becoming a successful entrepreneur
- Identify the business
- Educate yourself to have a proper knowledge about the business
- Research the market
- Find the targeted audience
- Plan your business
- Enhance your network
- Promote your idea
- Scale up the business