INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Keep physically fit
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Hire and manage people effectively
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Develop a good business plan
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All of the above
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Detailed explanation-1: -Proper cash flow management can prevent business failure by ensuring there’s enough money coming in to cover expenses. Set goals and develop achievable strategies to help your business succeed and plan for the tough times.
Detailed explanation-2: -However, with careful planning, an entrepreneur can minimise the amount of risk they face by: carrying out market research to find out what customers want. writing a business plan to identify potential problems. ensuring that there is sufficient money available.
Detailed explanation-3: -Accept feelings and emotions. Failure does not mean your life is going to be over. Learn from failure and be constructive. Find inspiration. Don’t give up. Be passionate. Surround yourself with positive people. Avoid isolating yourself.