ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Many entrepreneurs center a business on a hobby. Aptitude is the ability to evaluate your strengths and weaknesses. Entrepreneurship involves risk, which is both an advantage and a disadvantage. An advantage of entrepreneurship is that nobody tells an entrepreneur what to do.

Detailed explanation-2: -The truth is, pursuing hobbies and outside interests helps entrepreneurs stay grounded and feel more connected to their inner lives. Moreover, practicing something you love to do outside of work may also help you find previously unseen pathways to solutions and inspiration to try to new things.

Detailed explanation-3: -Entrepreneurship is the process of creating a new business i.e. a start-up company offering a process, product or service. Entrepreneurship is a constant process that relies on learning, creation, application and innovation in the market place.

Detailed explanation-4: -An entrepreneur gets things done and loves to be competitive in the process. A true entrepreneur is not predictable, one that possesses a certain creativity level that allows one self to see and produce “ahead of the curve”. However, without strong people skills, an entrepreneur cannot be successful alone.

Detailed explanation-5: -Even if you’re not in a “creative” industry, creativity is needed for entrepreneurial success. The mind of an entrepreneur is always looking for novel ideas and innovations.