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Entrepreneurship

Are you passionate to start your own business? Do you like to lead?  If yes, then you should consider being an Entrepreneur. 

 

Entrepreneurship is the art of coining a novel idea and translating it into a financially profitable business. Business can be service-based, product-based or process-based. As an entrepreneur, you should develop your overall skills in product designing, marketing, selling, time management and also money management. Life of an entrepreneur is very flexible but also challenging. An entrepreneur has to be very hardworking, persistence, structured, well organised and a very brilliant leader.

 

Example: Today, when you hear apple, the first thought that comes to your mind is Steve Jobs and not the fruit. It fits as a perfect example of a successful entrepreneur, whose success is self-explanatory. He did not build this overnight, he too started as a small start-up and stuck to it till the end. Dhirubhai Ambani, the most successful business tycoon of India, founder of Reliance, also started from scratch and ended up building such a vast empire.

 

What are the roles and responsibilities for Entreprenuer?

 

  • An entrepreneur develops and executes new ideas.
  • Identify, develop, or evaluate marketing strategy, based on knowledge of establishment objectives, market characteristics, and cost and markup factors.
  • Formulate, direct, or coordinate marketing activities or policies to promote products or services.
  • Work extensively with advertising or promotion managers.
  • Evaluate the financial aspects of product development, such as budgets, expenditures, research and development appropriations, or return-on-investment and profit-loss projections.
  • Develop pricing strategies, balancing firm objectives and customer satisfaction.
  • Compile lists describing product or service offerings.
  • Direct the hiring, training, or performance evaluations of marketing or sales staff and oversee their daily activities.
  • Consult with product development personnel on product specifications such as design, colour, or packaging.
  • Use sales forecasting or strategic planning to ensure the sale and profitability of products, lines, or services.
  • Analyze business developments and monitoring market trends.
  • Negotiate contracts with vendors or distributors to manage product distribution, establishing distribution networks or developing distribution strategies.
  • Coordinate or participate in promotional activities or trade shows.
  • Work with developers, advertisers, or production managers, to market products or services.
  • Initiate market research studies or analyze their findings.
  • Confer with legal staff to resolve problems, such as copyright infringement or royalty sharing with outside producers or distributors.
  • Consult with buying personnel to gain advice regarding the types of products or services expected to be in demand.

What are the key skills required for Entrepreneurship?

  • Strategic Management
  • project Management
  • Communication Skills
  • Excel

What are the career opportunities in Entrepreneurship?

  • Business head
  • Entrepreneur
  • Team lead
  • Manager

What is the salary and demand for Entreprenuer?

  • Demand is High for Entrepreneurship.
  • Salary levels are High for Entrepreneurship. For fresher average salary is more than 5 Lacs.
  • Fees levels of the course is Medium. To pursue this course student need to spend 3 to 4 Lakhs.
  • Level of preparation for Entrepreneurship is Medium. Students spend 1 Year. to prepare for entrance test of Entrepreneurship.

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