INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
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Economic Forces
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Technology Forces
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Political Forces
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Environment Forces
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Detailed explanation-1: -Entrepreneurs should observe at least four types of trends-economic, social, technological and regulatory-to identify business opportunities and grow their startups.
Detailed explanation-2: -Identify Your Pain Points. When searching for potential market needs, start with yourself. Conduct Market Research. Another way to prove whether a business idea is viable is by conducting market research. Question Processes. 05-Apr-2022
Detailed explanation-3: -Budget. It’s important to plan out your budget upfront to ensure you’re able to properly fund your business idea. Available time and resources. Scalability. Market size and demand. Your industry expertise. Your passion and interest. 02-Aug-2021
Detailed explanation-4: -Talk to your customers. Conduct competitor analysis. Look at external factors. Consider other industries. Think about similar companies overseas. 16-Aug-2022