An entrepreneur is a person who starts his own personal business on a small or a large extent. He is the person who is responsible for putting material, man and money together to earn profits. The answer to the question “how to become an entrepreneur” is explained below.
Thinking Chair Exercise: Thinking chair exercise is a mental tour of your business. We start this by thinking about what we want to do as an entrepreneur like start a clothing business, import something useful and sell it, start a departmental store of our own etc. Once we know what is to be worked on we try to figure out the amount of money we need to put into our idea and then analyzing the feasibility of our idea being popular y asking different people about the idea and taking their opinions on it.
1) On-foot research: The on-foot research is something we do when we don’t have an idea of our own. In this case we first decide our target market and then start observing the behaviors of our targets like where do they go most, what do they eat, their living, their dreams, their passions, likes and dislikes, shopping places they go to, clothes they wear and so on so that you are able to know your targets clearly and then come up with something they desperately need or would love to buy. This way you are able to come up with a realistic product.
2) On the entrepreneur desk: Now that we have an idea let’s plan it further. Firstly, describe your market completely by thinking who they are and what they buy and why. Then clarify your product according to the market needs as to how will your product satisfy that need. Make sure your product is attractive enough to buy. Then think about your competitors and do their SWOT analysis to see your strengths and their weaknesses and gap areas that you can fill and then make your marketing and sales plans along with promotional plans to put your business to real work. If you think it’s a lot of work to plan it all then just give your business a little start and plan your first sale and make one customer happy.
3) Search for an investor: This is for all those people who don’t have money to start a business. If you are full of ideas they try to find an investor or go to an investing company with your idea. Make a presentation about your idea that is able to explain the investor that your product is the best. Tell them about the assumed profit and their share in it. Starting on a small reasonable scale and progressing further gradually is usually a good way to find a good investor.
4) Entrepreneurship studies: try to learn more and more about entrepreneurship or else try to get a degree in this field as the more you know about this field the better are your chances to grow well in it.
The basic and the more workable plan is the plan for success. Being on the beginner level you will require a lot of hard work and patience for your business to start flourishing but once it starts working you will not get tired on smiling at your hard work and patience. Best of luck!