This document discusses entrepreneurship and the challenges and opportunities associated with it. It defines entrepreneurship as developing, organizing, and managing a business venture to make a profit while taking on associated risks. It distinguishes between freelancers who are paid for individual jobs or services, and entrepreneurs who grow companies. The document outlines various types of entrepreneurship and notes that it presents challenging prospects, including choosing products/services, marketing, hiring, managing finances and doubts. Specific challenges mentioned are coming up with ideas, planning, working hard, persisting through rejections, and managing time efficiently. Business incorporation, funding sources, branding, and common questions entrepreneurs face are also addressed.

1. Entrepreneurship
Challenges & Opportunities
1
By

2. Entrepreneurship ?
⇢ The capacity and willingness to develop, organize and manage a business
venture along with any of its risks in order to make a profit.
⇢ The most obvious example of entrepreneurship is the starting of new
businesses

3. Types of Entrepreneurship
The EntrepreneurThe Freelancer
 The freelancer gets paid when he
works. he can’t outsource her work or
have someone else show up.
 He’s asked to deliver a service. This
service is customized to the client exact
needs. So every time is different.
 He is the brand of his company The
company is hired for him. It’s his
uniqueness that makes others choose
him. His unique craftsmanship,
experiences, track record, etc.
 The entrepreneur gets paid when the
company he runs sells enough
products. He himself is not the one
making or delivering the product.
 His main job is growing the company.
 That involves telling the story about the
company to find clients and teaching
others to do the work by downloading
the vision into the company. It involves
very little to none doing the actual work.

4. The EntrepreneurThe Freelancer
 The archetypical freelancer: The logo
designer, travel photographer, video
production, consulting, painter, etc.
 The agency: The consultancy firm, design
agency, architecture firm, etc.
 The quick hit: The coach, masseuse,
jewelry repair, workshop facilitator, etc.
 Classic physical products: Pizza or coffee
shop, jewelry or clothing line, event space or
hotel, car manufacturer, etc.
 Outsource galore: Simple products,
designed once, with automated selling,
purchasing and assembling and shipping.
 Reseller: Supermarket, Plant store, Amazon.
Standardized service company: Events
like festivals and conferences, temporary
employment agencies.
 Digital: Software, apps, data sets, ebooks,
online courses, etc.

5. Entrepreneurship: A Challenging Prospect?
⇢ Entrepreneurship is a tough challenge to take up. Some of the factors you will
definitely deal with are as follows:
YES
Choosing What To Sell
Marketing Strategy Hiring Employees
Time Management
Delegating Tasks
Cash Flow Management
Strapped Budget Doubting Self

6. What You Deal With?
• Entrepreneurship comes with a host of
challenges. Rewarding challenges, but harsh
challenges nonetheless.
Experienced entrepreneurs have to deal with
this no matter how long they’ve been in business
Trying to establish a brand.
Adjust to match or exceed the competition.
Keep your business profitable is a challenge no
matter how many years you’ve been in business.

7. Challenges
1. Give up another/steady career.
2. Financing.
3. Team Building.
4. Being the visionary.
5. Dealing with the unknown.
6. Rule Making.
7. Decision Making.
8. Loneliness.

8. What Does An Entrepreneur ⇢ First and foremost,
entrepreneurs value
INDEPENDENCE.
⇢ They want to be
their own bosses,
set their own
schedule, and run
their own lives.
⇢ They are people who
dread the thought of
a boss overseeing
their work.
Value The Most?

9. How to approach?
If you are ready for sure.....

10. STEPS TO BEGIN YOUR SOLO JOURNEY
FIND
YOUR
NICHE
RESEARCH
YOUR
MARKET
EDUCATE
YOURSELF
BUILD
SLOWLY

11. THE NEXT THINGS
A
PROPER
NAME
START
RAISING
FUNDS
A
FANTASTIC
WEBSITE
SELL
PRODUCT
STRONGLY

12. FUNDING
• Ask your family and friends to invest in your
business.
• Apply for a small business grant.
• Use a crowdfunding platform.
• Pitch to angel investors.
• Solicit venture capital.
• Use a credit card for a short-term cash option.
• Get a microloan.
• Bootstrap it.

13. What We did?
⇢ As a founder,I paid the initial costs by
myself and then, when the company
money flow started, its revenue covered all
expenses.
⇢ This option allowed me to hold on to a
much bigger percentage of my earnings.
⇢ But, you may grow less quickly without big
infusions of cash. If you do decide to
bootstrap, keep your budget as lean as
possible to extend your company's lifetime.

14. BRANDING
• Market Your Business Like Crazy.
• Use social media to promote your
business.
• Engage in content marketing by writing
guest articles for relevant websites.
• Issue press releases for any significant
events.
• Network continually.

15. Expect BIG challenges.

16. What CHALLENGES?
 Coming up with a great product
or service.
 Having a strong plan and vision
for the business.
Working more that you expected.
 Not getting discouraged by
rejections from customers.
Managing your time efficiently.

17. Business Incorporation

18. How To Incorporate?
⇢ At a certain point, you need to decide whether you want to incorporate your
business. As a sole proprietor, you and your company are considered to be the
same entity.
⇢ Once you incorporate, your business becomes separate from you. From a legal
standpoint, it can buy and sell property, incur taxes, sue and be sued, set up
contracts, and commit crimes.

19. Pros
• First, and most importantly, a corporation protects you from businesses debts and obligations.
• Creditors can typically only seek repayment from the corporation's assets, not your personal
assets.
• You're also not legally liable for the corporation's actions. In contrast, as a sole proprietor,
anyone who sues your business is suing you.
• Having a corporation lets you transfer shares. You can sell some of your ownership in a
company, transfer it, or give it away. If you want to accept external investments or bring a
partner on board, you need the ability to divest.
• Corporation status also gives you more credibility, which helps you attract investment capital.
• Lastly, corporations can deduct normal business expenses before they allocate income.

20. Cons
• It creates an additional tax burden.
• You need to periodically file with the state and pay yearly fees.
• The process can be relatively time-consuming, and hiring a lawyer can
cost anywhere from a few hundred to a few thousand dollars.

21. There Are Question.
A LOT.

22. Questions Such As:
⇢ Demand of product or service?
⇢ Better competitors?
⇢ Funding?
⇢ Upgrades of Knowledge & Services?
" I CANNOT DO EVERYTHING BY MYSELF."
ALWAYS REMEMBER
1. KYA KYA KARU?
2. KAISE MANAGE HOGA?
3. PAISE NAI AARE.
4. PROJECT NAI MILA.

23. Keep Going....No matter what.
⇢ Imperfectly done is better than perfectly planned.
⇢ Experience is your best teacher.
⇢ You don’t need permission to do what makes sense.
⇢ RISK, is always gonna be there.
⇢ Investment will go waste many a times.
⇢ One shot success is a MYTH.

24. It is a SOLO JOURNEY.

25. FACTS SHEET
⇢ How many startups are successful in India?
⇢ How many startups fail in India?
⇢ Why startups fail?
⇢ Start-up Stats Report.