In today’s world, ideas drive economies. There is competition in every walk of life. But it is innovation that puts one individual above another. Innovation means something new or better than the existing product or service. This innovation could be process innovation, market innovation, product innovation, and even organizational innovation. With small innovations one is able to build a big and profitable businesses. For example, milk was earlier packed in returnable bottles but now with innovation in packaging it is made available in poly-pouches. This innovation in packaging resulted in huge cost economies and increased convenience for the consumers.
That is how success is defined too. Business success of a product is when we prefer one product over another and we maintain our preference over prolonged period of time. That is when we decide that a particular product is better than most products available in the market. To become a successful entrepreneur, we need to ensure that our product stands out over the rest and is able to meet the needs of the customers.
In simple terms, entrepreneurs buy at certain prices and sell at uncertain prices.The one who can make good revenue despite the market being volatile and uncertain is a successful entrepreneur. He takes risk and reaps benefits if the venture is successful. An entrepreneur is a person who is daring and who thrives in uncertainty.
Entrepreneurship is the practice of starting new enterprise, particularly, new businesses generally in response to identified opportunities. It is all about taking risk. Majority of the new ventures fail. Hence, it is tough and risky to be an entrepreneur but at the same the ones who are successful create immense wealth not only for themselves but also for the society. The great entrepreneurs, to name a few, are Bill Gates, Chairman and Founder of Microsoft Corporation, Sh.Dhirubhai Ambani, founder of Reliance Industries, Sunil Mittal of Airtel and many others.
Entrepreneur is a person who is willing to convert a new idea into a successful innovation. He is able to make an idea saleable and in turn creates more job opportunities and adds value to the mankind. Entrepreneur forces creative destruction across markets and industries by developing new products and business models that make market dynamic and help it grow.
That is how success is defined too. Business success of a product is when we prefer one product over another and we maintain our preference over prolonged period of time. That is when we decide that a particular product is better than most products available in the market. To become a successful entrepreneur, we need to ensure that our product stands out over the rest and is able to meet the needs of the customers.
In simple terms, entrepreneurs buy at certain prices and sell at uncertain prices.The one who can make good revenue despite the market being volatile and uncertain is a successful entrepreneur. He takes risk and reaps benefits if the venture is successful. An entrepreneur is a person who is daring and who thrives in uncertainty.
Entrepreneurship is the practice of starting new enterprise, particularly, new businesses generally in response to identified opportunities. It is all about taking risk. Majority of the new ventures fail. Hence, it is tough and risky to be an entrepreneur but at the same the ones who are successful create immense wealth not only for themselves but also for the society. The great entrepreneurs, to name a few, are Bill Gates, Chairman and Founder of Microsoft Corporation, Sh.Dhirubhai Ambani, founder of Reliance Industries, Sunil Mittal of Airtel and many others.
Entrepreneur is a person who is willing to convert a new idea into a successful innovation. He is able to make an idea saleable and in turn creates more job opportunities and adds value to the mankind. Entrepreneur forces creative destruction across markets and industries by developing new products and business models that make market dynamic and help it grow.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.