ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Maintaining confidence It can take a lot of confidence to start a company and just as much to run one. It’s important for entrepreneurs to maintain confidence so they can lead effectively and make appropriate business decisions. Entrepreneurs may set long-and short-term goals to track and reflect on their success.

Detailed explanation-2: -Uncertain income: Entrepreneurship does not ensure a fixed and stable income like a full-time job. Entrepreneurs have no fixed income, and income is not guaranteed at the initial stage of business. No Fixed Working Hours: Apart from uncertain income, entrepreneurs do not have any fixed working hours.

Detailed explanation-3: -Teamwork and delegation. Focus and productivity. Work-life balance issues. Developing good habits and achieving goals. Procrastination and time management. Business growth and scaling.

Detailed explanation-4: -Deciding what to sell. Probably the biggest challenge of entrepreneurship is figuring out what kind of product or service to offer. Marketing. Hiring talent. Delegating authority. Managing time. Guarding cash flow. Finding capital. Projecting confidence. 18-May-2022