ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Step 1: Think of an idea First things first, you need a business idea. It can be a new product or service, or a way to improve a current one. To ensure you’re successful, it’s important to think about how you can make life easier for people with your idea.

Detailed explanation-2: -The entrepreneurial process consists of four steps: deciding to become an entrepreneur, developing successful business ideas, moving from an idea to an entrepreneurial firm, and divesting or selling the entrepreneurial firm.

Detailed explanation-3: -Discovery: An entrepreneurial process begins with the idea generation, wherein the entrepreneur identifies and evaluates the business opportunities.

Detailed explanation-4: -Build Your Skill Set and Knowledge Base. No matter what, you want to start and stay curious. Build Your Network. No one ever succeeded alone. State Your Idea, Claim Your Niche. Find and Understand a Market. Design Your Business and Idea. Secure Finding. Build Your Business.