ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Everyone has the qualities and aptitude needed to become a successful entrepreneur. Your hobbies, interests, and past experiences are key factors in determining your commitment to a business. Aptitude is the ability to evaluate your strengths and weaknesses.

Detailed explanation-2: -I previously highlighted curiosity, creativity and commitment as individual characteristics, each with its own power to fuel the entrepreneurial mind. Instead, it may be the interaction between these characteristics that captures true entrepreneurial success.

Detailed explanation-3: -According to entrepreneurs, three factors are most important for enabling a company’s growth: access to markets, the supply of human capital (i.e. people with the right skills for the job) and access to funding.

Detailed explanation-4: -Sacrifice – Are you willing to sacrifice short term to benefit in the long term? Experience – Do you have some business or related experience? Leadership – Do you like being the leader? Organization – Are you organized? Optimism – Are you optimistic?

Detailed explanation-5: -Ambition and self-confidence. Willingness to take a leap of faith. Ability to learn from mistakes. Trust in and respect for the team.