Entrepreneur is a very trendy word nowadays. The young generation especially has a lot of tendency to become an entrepreneur. But the path of becoming an entrepreneur is too adventurous.
The word “Entrepreneur” normally refers to the activities related to one’s own business. In a broad sense, those who start their own businesses at their own risk, do businesses and create job spaces for more people and make an impact on personal growth and society are normally known as entrepreneurs. People from all ages, cast and genre can become an entrepreneur. But the majority of people start the journey of becoming an entrepreneur from their young age. Young generation faces versatile options to choose their career for their future. Among them a huge amount of young people don’t like jobs or don’t want to work under someone. So, most of them bear a hidden dream to become an entrepreneur.
Becoming an entrepreneur is easy but becoming ‘a successful entrepreneur’ is tough. For that one needs high observation power and calculative power. For becoming an entrepreneur, one will have to think what kind of business one can start. For that, one should observe the market. For Choosing the market, one can keep in mind about the geographical location and its impact, market demand, implementation cost, implementation process and post implementation costs and processes etc. Even one has to think about the already existing competitors in the market, what they are doing, what is their current state of the business and their impact on the market.
Technically, the journey of becoming an entrepreneur should start from a young age. The younger someone is, the more one can take risks in business.
After considering all these things, one can think of becoming an entrepreneur. Launching a business is not the end of an entrepreneur journey. For proper management and to expand the business, funds are very important in a business. But it is a matter of great sorrow that most of the businesses struggle for lack of proper funding. A handsome amount of money can bring a good output in business.
Marketing is an important thing in a business. Proper and attractive marketing helps a lot in business to grow properly. So, a handsome amount of money should be invested in marketing. Even discounts, festival offers and seasonal offers can work as a marketing strategy. Sometimes parallel competitors spread false rumors to degrade the market value of a specific business institution which is ethically wrong in a business.
Honesty, dedication etc. are very important things in a business. Even honesty can work as a catalyst for the expansion of a business. Hard work, good product and good behavior with the consumers of the product also helps in marketing. A team full with expertise in different sectors is also necessary for the overall betterment of a business.
However, a successful entrepreneur bears a lot of impact on society. A successful entrepreneur can create jobs for others which can reduce the unemployment ratio from the society. Even this type of activity encourages other unemployed people to become entrepreneurs.
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Writer :
Shariful Islam
Intern, Content Writing Department,
YSSE.