This document discusses the process of becoming an entrepreneur. It begins by defining an entrepreneur as someone who notices opportunities and mobilizes resources to create new products and services. Common traits of successful entrepreneurs are then outlined, such as being original thinkers, risk takers, and setting high goals. The document then provides questions for aspiring entrepreneurs to consider, such as determining motivations, analyzing market needs, and financial requirements. Specific business models like lifestyle ventures and high-growth ventures are examined. Finally, the key steps for starting a business are presented, including developing a business plan, marketing strategies, and setting future goals.

1. BY:-
KAMRAN AHMED KHAN
B.E(6TH
SEMESTER)
BRANCH: ELECTRICAL ENGINEERING
FROM:- YOGANANDA COLLEGE OF ENGINEERING & TECHNOLOGY
(YCET) -JAMMU

2. Overview
Who is an entrepreneur?
Planning before becoming an Entrepreneur.
Growth pressures, Managing a family business,
and Corporate Intrapreneurship

3. Who is an entrepreneur?
“Entrepreneurs are people that notice opportunities
and take the initiative to mobilize resources to make
new goods and services.”
“The process of running own business is known as
Enterpreneurship”

4. Common Traits of Successful
Entrepreneurs
Common traits
Original thinkers
Risk takers
Take responsibility for own
actions
Common traits
Self employed parents
Set high goals
Feel competent and capable

5. Questions To be Kept In Mind
What are my motivations for starting a business?
What and where is the market for my product?
How much will all this cost me?
Should my company be domestic or global?

6. What are my motivations for owning a business?
 Deciding what your motivations are will direct you
toward what type of business fits you best.
 Types:-
1. Lifestyle Venture
2. Smaller Profit Venture
3. High Growth Venture

7. 1. Lifestyle Venture
Small company that provides its owner
independence, autonomy, and control.
Is often run out of household
Provides flexibility (hours, meeting places, attire)
Aligns your personal interests and hobbies with your
desire to make a profit.

8. 2. Smaller Profit Venture
Small company not concentrated on pushing
the envelope and growing inordinately large.
Making millions of dollars not important.
Content with making a decent living.

9. 3. High Growth Ventures
Goal is maximum profit and growth.
Concentrated on pushing envelope and
growing as large as possible.
Focus on innovation

10. What and where is the market for what I want to Sell?
Planning & Research essential:-
It is A step-by-step outline of how an entrepreneur or the
owner of an enterprise expects to turn ideas into reality.
Extensive market surveys (family, friends, neighbors…)
Magazines and Polls offer some information on the
market

11. How much will all this cost me?
Plan realistically, not optimistically
 Don’t overestimate your profits
 Don’t underestimate your costs
Sources of Funds
 Banks
 Venture Capitalists – filthy rich, high risk investors
looking for a many times over yield

12. Should my company be domestic or global?
Drawbacks to Global :–
More research and less accessible connections in startup
phase, more travel time required, more considerations.
Advantages to Global :–
More human resources, more demand, more financing,
easier to start global than go from domestic to global.

13. Successful Entrepreneurs
Successful
 Creative and Innovative
 Positioning strategies
 Create new products
 Create new processes
 Create new delivery

14. Unsuccessful Entrepreneurs
Unsuccessful
 Poor Managers
 Low work ethic
 Inefficient
 Failure to plan and prepare
 Poor money managers

15. 7 Key Steps toward Starting Your Own Business
A lot of people think starting a business is hard. So Here
are seven key first steps to starting your own business:
 1. Take time to brainstorm.:
An idea is great, but you need to be able to give it legs.
Your job as a new entrepreneur and future business owner
is to think about every aspect of your business. Come up
with answers to every question a stranger or potential
investor might ask you.
 2. Create a business plan.:
The main parts of a business plan include the executive
summary, a company description (what makes the company
unique), a market analysis (the competition and target
demographics), the company's structure, a description of
the service or product line, the marketing and sales strategy,
financial projections -- plus any additional useful information.
 3. Gather needed resources.:
No matter what the size of your business is, you'll need
a few essentials to start operating. Create a list of everything
you’ll need and its approximate cost, whether it’s an office
space with a new desktop and printer or a warehouse to hold
the products.

16. 7 Key Steps toward Starting Your Own Business
 4. Launch marketing and brand-awareness campaigns.
Before you launch the business off the ground, start planning the ideas for
marketing, sales, and branding efforts.
Create a Facebook page, Twitter profile, Google+, and LinkedIn page for your
business, depending on the appropriate social media channel for your company.
Use the company's brand colors and logo to create business cards, letterhead and
email signatures to demonstrate to customers a professional operation.
 5. Get the finances in shape.:
Hire an accountant for your business who can ensure that taxes are done correctly.
While doing your own business taxes can be relatively easy when running a solo business,
laws and regulations vary by state. Consult with an expert to make sure you're in the clear.
 6. Create a maintenance list.
When you finally have your business up and running, keep track of regular tasks
that keep a business running, keeping up with inventory, updating the website and
regularly blogging and using social media.

17. 7 Key Steps toward Starting Your Own Business
7. Set future goals.:
Whether your business is a day or a year old, continuously set goals in order to move
your business forward.
Examine the competition, employees, investors and peers to help you decide what
new goals need to be set and what needs to happen so as to be successful

18. THANK YOU …..
HAVE A NICE DAYHAVE A NICE DAY
YOGANANDA COLLEGE OF ENGINEERING & TECHNOLOGY
(YCET) -JAMMU