Entrepreneurship
Ms. Jisha Babu
Programme Manager
Wayanad
Entrepreneurship is the act of setting out on your own and starting a business instead of working for someone else in his business. It has been defined as the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. While entrepreneurs must deal with a larger number of obstacles and fears than salaried employees, the payoff may be far greater as well.
According to Ramsey & Windhaus (2009), there are certain things - attributes, behaviors, attitudes, and practices that must be fully developed, implemented, and managed by a small business owner in order to start, operate and grow a profitable small business. Getting started with entrepreneurship can be a rough ride, especially if we are striking out on our own for the first time. Taking up entrepreneurship has a correlation with the person’s tolerance for risk, preference about the amount and stability of income, ability to handle multiple responsibilities, passion and interest about the business idea, existing support system and available resources.
Key Factors:
Successful entrepreneurship depends on many factors. Of primary importance is a dedicated, talented, creative entrepreneur. The person who has the ideas, the energy, and the vision to create a new business is the cornerstone to any start-up. But the individual must have ready access to a variety of important resources in order to make the new venture more than just a good idea. . He or she needs to develop a plan of action,
14