Entrepreneurship & its characteristics

Entrepreneurship & its characteristics

Sep 27, 2018 Branding, Entrepreneurship, Brilliant Idea, Development

An entrepreneur is the initiator who takes up risks and begins an enterprise. This process of creating an enterprise is then called entrepreneurship. Entrepreneurs think of ideas and begin by setting up their products and services for the market.

Every concept is characterized by certain aspects. Here are the ones for entrepreneurship.

Risk & Profit bearing: Entrepreneurship comes at a price and a profit. The essence of being an entrepreneur is the willingness to know that uncertainty can come your way and you need to be ready for it. On the other hand you can also earn a high profit when your enterprise has a good turnover. You may just be compensated enough for the amount invested.

Economic Progress: Entrepreneurship is an economic activity which works towards progress. It plays a vital role in creating jobs, offering better solutions to customers, increasing standards of living, etc, and all of this is done with optimum use of the given resources.

Dynamic: The thing about any venture is that it has to work constantly in changing conditions, in compliance with the market scenario, trends, customer demands etc. So entrepreneurship itself is dynamic.

Innovation: Entrepreneurship is all about offering a solution to any problem faced by a customer. Innovation is hence the key to help find ideas which act as a solution. Innovation is prominent and needs to be inculcated in every product; every product has to have its USP (Unique Selling Proposition).

Do you contemplate on being an entrepreneur? The characteristics above are pretty much about certain aspects that tag along with entrepreneurship. Read them and know them well. Also do pursue your dream!

Pramod Mehta In a career spanning for over 2 decades, I have mastered several skills. Being resilient, managing tasks, multi-tasking and consulting are my forte. Years of being a Chartered Accountant has endowed me the skill sets of being an entrepreneur. Applying my learning, with utmost diligence to every task I adopt is natural to me. I am also the founder of iShoutnow Technologies Pvt. Ltd, (www.ishoutnow.com) which is an application that lets customers discover real-time deals, discounts and offers available around them. It also lets merchants shout out their offers to customers! It is an open platform for relevant, timely and geographically local information. The application is simple, user-friendly and also offers a Do-It-Yourself method for creating adverts. With the zeal to make a difference, I believe a brilliant idea and the power of internet can enrich human life.