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ENTREPRENEURIAL SKILLS-II, Entrepreneur: An entrepreneur is a self-employed person, who willingly takes calculated, risks, while running the business to satisfy the customer needs as well as make profit., Entrepreneurship: The process of developing a business plan, launching and running a business, using innovation to meet customer needs and to make a profit., , Qualities of a successful entrepreneur:, , , , , , , , , , They are confident. They believe in themselves and their abilities., They keep trying new ideas in their business. (Open to Trial and Error), They are patient., They are creative and think differently about business ideas., They take responsibility for their actions., They take decisions after thinking about them., They are hard-working., They do not give up when they face a difficulty. (Positive Attitude), , Role of an Entrepreneur:, 1) Fulfil Customer Needs: Entrepreneurs find out what people want and use their creativity to, come up with a business idea that will meet that demand., 2) Use Local Materials: Entrepreneurs use the material and people available around them, to, make products at low cost., 3) Help Society Entrepreneurs have a positive relationship with society.Some entrepreneurs, work towards saving the environment, some give money to build schools and hospitals. This, way, the people and area around them becomes better., 4) Create Jobs With the growth of a business, entrepreneurs look for more people to help them,, which creates job opportunities., 5) Sharing of Wealth: As entrepreneurs grow their business, the people working for them and in, related businesses also grow. They have more money to live a better-quality life., 6) Lower Price of Products As more entrepreneurs sell the same product, the price of the, product goes down. For example, when more mobile phones were getting sold in India, the, cost of the phone became lesser., , Functions of Entrepreneur:

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Myths about Entrepreneurship:, Misconception 1 states that every business idea needs to be unique or special. Often, an, entrepreneur identifies customer demand and bring in a new idea into their business but a, person can take an idea that is already there in the market and do something different with, it and still be called as an entrepreneur., Misconception 2 states that a person needs a lot of money to start a business. The money, used to start a business is called capital. Capital is important for starting. However, every, business does not need a lot of capital to start. Some had a lot of money, and some did not., But still they are all successful., Misconception 3 states that only a person having a big business is an entrepreneur. No, business is big or small. If a person is running a business to fulfil a customer need, they are an, entrepreneur. Most businesses start small. It becomes big with hard work and creativity., Misconception 4 states that entrepreneurs are born, not made. An entrepreneur is a person, who does whatever it takes to make the business successful. Being an entrepreneur starts, with a way of thinking. You must believe that anything is possible and it shall be achieved. It, starts with thinking of an idea that you want to work on, making it different., Entrepreneurship as a Career Option, A career is a line of work that a person takes for life. There are two ways a person can earn a living., , 1., 2., , self-employment, wage employment, , A self-employed person running a business to satisfy a need by trying new ideas is an entrepreneur. A, person who becomes an entrepreneur goes through a career process.: