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How does one select an entrepreneurial activity?

Sagot :

HoTsaKi

HOW TO SELECT AN ENTREPRENEURIAL ACTIVITY:

Entrepreneurial means entering into the business world. It has a process to follow so we can bring a success since we are investing money, effort and labor as well the time and reputation. This should be a sustaining activity and must be diligent to maintain competition.

What are those activities? See on the following:

  1. Entrepreneurship should be your calling first. An entrepreneur must be first aware that entrepreneurial activities are always risky and unstable.
  2. Entrepreneur shall be enlightened with feasibility study. The result of this study is not necessarily complicated as same with those at corporate organizations. But the feasibility study will make your mind decided if this business will sustain.

What are the details that will make up your feasibility study? These are some:

  • Must know the societies' needs and wants.
  • When you already pick a certain need or want of societies - your target market -  you must know how to get to supply you and satisfy the demands of the people.
  • What are the legal requirements you need to prepare?
  • Do the location and nature of people living will be your demand?
  • Who is your market and competitor?
  • Describe your capital, future loss and return of profit.
  • What will be your scope and limitation?
  • What is your service/ product to be delivered?
  • Who is your team?

A feasibility study will produce a business report and plan. It sometimes constitutes some business principles such as PDCA and other strategies. This will be the bible of an entrepreneur. What is a business plan? Read on https://brainly.ph/question/464327.

Being an entrepreneur, you will be having a commitment and negotiation to other entrepreneurs, either they are your supplier or competitor. Read on the responsibilities of a supplier in an entrepreneurial activity at https://brainly.ph/question/2129079.

If you understand everything and it's alright for you to handle such advocacy, it is then the certain entrepreneurial activity for you.

By the way, who is an entrepreneur? Read the qualities and success on https://brainly.ph/question/577387.

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