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Startup
Guide
 Have
a big idea? Dreaming of ‘Kab Banega Crore pati’?
Driving down the road…and flash! You hit upon an idea that
could change the world. An idea that will put you into the annals
of history as a pioneer…but how and where do you start? I’ll
help you find out.
If
you want to be an Entrepreneur - Part I
Before
an entrepreneur decides to invest his savings in a small business,
he would certainly want to know if it will succeed. If you were
to ask a prospective entrepreneur whether he had all the right
resources to start his own business, he would answer with a resonant
"yes." Its easy to say a “yes” or a “no”,
but entrepreneurs also need to evaluate their strengths and weaknesses
so that they would be in a better situation to make certain decisions
that would help them before they venture out on their own.
There are two distinctly different roles an entrepreneur needs
play while starting up. Each role requires specific skills. They
will not only be responsible for providing products or services
to customers but also deal with all the activities relating to
the management their business. You need to be able to handle both
in order to succeed.
Since every business is unique the specific skill set needed to
provide products or services will vary. An entrepreneur will need
to do their best to gauge the scope of activities that make up
their business. Be particularly careful not to overlook the less-enjoyable
aspects of the business. Regardless of your desire to get into
business if you lack needed the skills, it's unlikely you'll succeed
unless you find a way to compensate.
Questions like… Should I work from home? should I take on
partners? Should I hire an accountant or a lawyer? Or if opening
a retail business, should I hire a store manager? Your answer
to these questions and many others will depend in large part upon
which skills you have and which skills you lack.
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