What Is Entrepreneurship?
It is the ability to develop, organize, and manage a small business while taking into account risks that may occur such as lack of financing, bad business decisions, economic crises, and lack of market demand, to make a profit, in short, entrepreneurship is how you organize your business, Your risks, and the profits and losses you generate.
Basics of Entrepreneurship
Know your Destination Accurately
We will represent it with a simple example of this basic. In the case of driving your car, there must be a place to go to, and more importantly, knows why it is going to that place? From this standpoint, the entrepreneur must define the goal of the business and turn it into actionable plans and tasks on the ground.
Exploiting the Available Resources
The interest in exploiting the enterprise’s resources is considered one of the basics of entrepreneurship, and those resources are represented in the capital and labor that the project owns, and each of the two previous elements has its feasibility studies to be used in an ideal way, taking into account the importance of the economy in the financial resource, in particular, so now We know where the conditions established a lead in the future, as financial reserves are the way to survive financial crises if they occur instead of borrowing, and for the employment component, it is the most prominent thing that the entrepreneur can be interested in according to modern human resource management theories, and who can coordinate between the different resource elements will He succeeds in his business.
Looking Forward to Making Money from Work
The entrepreneur must learn how to sell the good or services successfully. It is necessary to attract customers or the public towards what is displayed.
Providing the Product That Buyers Want
This is considered one of the most important basics of entrepreneurship, for example, the product of selling thick leather coats cannot be sold in a tropical country characterized by sunshine throughout the year, it will not find acceptance by the public. If the same product is sold in a country characterized by a cold climate, it will be popular, In this sense, the public’s need is the primary controller in the patterns of manufactured or promoted products.