ENTREPRENEURSHIP

Detailed explanation-1: -It’s often not the business itself that makes a company unique; it’s the people, their approach, the intangible elements. The work to be done is self-reflection to explore what the company’s specific vision or mission is, and how that differs from other brands in the marketplace.

Detailed explanation-2: -The first and easiest place to come up with a business idea is through your own experiences. One day you may realize you have a problem that no one else can solve. Can you come up with a solution and solve it or a similar problem for others? Write down all problems like this, even if you can’t solve it initially.

Detailed explanation-3: -Profitability will be an unavoidable metric used to measure your success in business. Bear in mind however that profit is not all that is important. There are many other factors to consider in making your business a true success and ignoring these factors may discourage an entrepreneur on the verge of success.

Detailed explanation-4: -Brainstorm various ideas. Make a business plan. Look out for funds. Analyze market demand. Test your business idea. Prioritize scalability. Consider profitability.