
With over 18 years of entrepreneurial experience in marketing and strategy, Umang Srivastava has an unusually accurate knack of understanding the needs of the consumer. And this is what led him establish Bonita along with Neeraj Mittal. Bonita is an emerging international player in home …
Sébastien Dupéré thought he’d stumbled on a winning idea with Les Dégommeurs. At first blush, the steam-cleaning business — which Dupéré launched with two friends in 2006 — looked successful. Customers were happy with their service, which removed gum and other gunk from public places such as …
Entrepreneurs must focus on opportunities to move their businesses forward and strategies to take their companies to the next level. But it can be easy to get distracted by all the noise or wallow in negative projections. Think of it this way: Your table is full …
Dubai is a global hotspot for startups, buzzing with business activity of every kind. Everything is working to support the entrepreneur in this vibrant city. It is tax-free, has world-class infrastructure, and is ideally positioned for international trade. What’s more, economic growth is going to …
“Discuss the relationship between entrepreneurship, innovation and economic development. What role does sustainability play in this relationship? Refer to both theory and examples from the business world to support your discussion. ” Introduction In today’s business world, the increasing focus on entrepreneurship education, innovation, economic …
Q: How to manage our education and dream of becoming an entrepreneur? Is it better to drop out of college to start our own company? I have a fear that if I wait until I get a degree then someone will implement it.A: “Should I …
2016 has been all about funding and getting the right investors on board. While late rounds have been slow and cheque sizes have diminished, early-stage funding has witnessed a lot of investors support this year. At the Entrepreneur India Summit in New Delhi, investors from …
Jessica Alba and Sarah Michelle Gellar both had successful careers acting on television shows and starring in movies, but now the women spend their time as the founders and creative leaders of startups.Alba is the chief creative officer of , which creates and sells what …
Public relations is often regarded as one of the most fast-paced and stressful professions one can enter. But for some, the chaos and 24/7 news cycle isn’t daunting, and a few, like fellow Entrepreneur contributor , thrive on it. At 24 years old, Lorenzen is the …
Brazier’s culture is a friendly, open one that easily accommodates many ethnicities. Titles and the hierarchy they reflect are important in business situations, even though work processes are often carried out laterally, rather than along a top-down continuum. Relationships are key. Conversations can be lively …
Startup entrepreneurs venturing into mobile app often struggle between the speed and agility. Startups have neither time nor the funds to cope with the long development cycles of a mobile app. As the consumer focus is drifting from what’s on the web to what’s in …
Corporate social responsibility (CSR), the term given to companies’ efforts to deliver economic, social and environmental benefits alongside great products and services, is not always a favorite topic in business meetings.Related: The idea of “giving back to the community” certainly has its appeal, and there’s no doubt that …
Most people haven’t heard of a scrappy little ski company called , but we gave it a lot of space in this issue — a story about founder Cyrus Schenck. I bet you’re wondering: How did Schenck pull that off?I’m going to tell you.Why? I owe it to …
In the world of employment, there are two types of employees: those who love having all the benefits of employment and wouldn’t have it any other way; and those who, while they do enjoy the perks, aspire to do something else- like Having an entrepreneurial …
Entrepreneurship is acquiring impetus as a influential instrument for exhilarating economic growth in the country. This is a commanding educational means of training business professionals regardless of whether they started a new venture or not. Entrepreneurs see business in a more holistic way than do …
In a master stroke to combat black money and reduce the counterfeit currency currently in circulation, the Indian government has announced INR500 and INR1000 notes will cease to be legal tender effective midnight of 8 November. Banks were closed on November 9 on account of …
“College Entrepreneurs Do Good and Make Money,” (Nickels, McHugh, & McHugh, 2010, p. 26). They are really business and success story. True college entrepreneurs will do anything possible to reach their goals by being original and innovative. They pick an idea based on the customer …
As the saying goes — “Different strokes for different folks.” This is just as true for seemingly mundane preferences — like one’s favorite birthday cake — as it is for major career decisions, like what type of business you prefer to open. To the latter …
Unfettered by memories of failure or downturns, new breeds of young entrepreneurs are unleashing a wave of startup activity marked by swagger and confidence associated more with the Silicon Valley.Today we have developed an ecosystem where there are about 21,000 startups in India and about …
Not everyone is born for the traditional 9-to-5 job. And not everyone is a born entrepreneur. While many Americans prefer the security of working for others, others prefer the risk of starting their own businesses and positioning themselves for substantial rewards. Related: But is entrepreneurship …
The ancients warned us of tragedy when personal strengths applied in one situation become an Achilles heel in another context. "If men had all they wished, they would be often ruined," warned Aesop.Successful entrepreneurs run the show. Many have a hard time being told what to do, …
Being an entrepreneur is not at all an easy task, though it seems to be. Entrepreneurship comes along with the new struggles, its own set of challenges and pressure almost every day. So, it becomes all the more important to not get carried away with …
Real estate startups picked up late but looks like they are here to stay with co-working offices becoming most sought after workspaces in Indian metros where new startups are created every day.When Shesh Rao Paplikar was hunting for office-space for a New York startup , …
While an entrepreneur is born with the birth of an innovative idea, it’s the execution and scaling that helps give wings to his concept. Many startups with innovative concepts stumble midway due to lack of awareness and understanding of critical execution strategies. Stanford Graduate School …
Encouraging entrepreneurship is in vogue nowadays, particularly on the campaign trail. We know our economy needs more entrepreneurs, but the way many policymakers frame the debate may not be doing much good.Related: Grants? Government-backed loans? Programs to encourage people to start a business (while glossing over …
In today’s context, an entrepreneur is somebody who operates a business, taking risks and reaping the rewards that come with owning a business.An entrepreneur is a thought leader with often the expertise and knowledge of an innovator. Entrepreneurs bring new concepts to the table. They …
Are there certain qualities that all successful entrepreneurs share?After years of personal experience and coaching, I’ve discovered that entrepreneurs share very similar qualities that make them successful. Fortunately, all of these qualities can be learned. It is up to you to carefully examine your strengths …
Among all the different qualities that they say an entrepreneur should have (and the list is often unrealistically long!), one that often gets missed out is ‘mentorship’. So why should an entrepreneur have mentoring qualities? When you first launch, the start-up or new initiative is …
No entrepreneur starts a business believing they are going to go bankrupt. But while solid business strategy and a can see you through just about any challenge, the reality is that bankruptcy is always a possibility. This is why there is so much significance to …
Let’s let go of the idea of the lone wolf, once and for all.We have this idea of the entrepreneur as a solo figure — an ambitious, solitary adventurer willing to stand apart from the crowd and risk it all on the strength of a …
Era
Large-scale entrepreneurs emerged in the second half of the 1800s—the Entrepreneurship Era. They built business empires, created enormous wealth, and raised the standard of living for the entire country. Yet success came with a price. Jobs became more specialized—increasing productivity while lowering costs and prices.
Steps
It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth. These phases are summarized in this table, and the Opportunity Evaluation and Planning steps are expanded in greater detail below.
Strategy
Entrepreneurial strategy is the means through which an organization establishes and re- establishes its fundamental set of relationships with its environment. It is strategy characterized by widespread and more-or-less simultaneous change in the pattern of decisions taken by an organization.
Experience
In essence, entrepreneurship is an experience consisting of large numbers of key events such as a first sale, hiring a first employee, losing a big account – events that are processed and made sense of by the entrepreneur.
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