Who is an Entrepreneur? what does he do?

Entrepreneur is a person who sets up a business venture and assumes the risk for it with the aim to make a profit. 
Entrepreneurship refers to the process of creating a new enterprise and bearing any of its risks, with the view of making the profit. 
The Idea of starting your own business or launching something new needs a lot of planning, channelising ideas, knowing the advantages and disadvantages of your business and utilising the resources you got in a proper way. 
Whenever an entrepreneur is going for a startup he has many doubts in his mind regarding his startup idea. So, the first thing you need is believe in yourself and your idea. Work on your idea to make it perfect.

Choose wisely before performing
For choosing the product or service for your startup Firstly, you need to ask yourself a question. Question should be anything that you feel can be made much easier when performed in an alternative manner. After searching question start solving that and you'll get your idea automatically. 
The product and services launched should always be superior from others. Always analyse your competitors and there loop holes then all you need is filling those loop holes. Always study your competitors. Look on to their strength, weaknesses, opportunities and threats in the market. 
Your product or service should satisfy the consumer need fully. Consumer satisfaction is the key to the success of your startup.
An entrepreneur should also have some knowledge of marketing and performing marketing skills for the product or services he is going to start with. Knowing About the market situation and analysing it for your benefit is very essential in letting others know about your product or services.

For knowing more about marketing management click below:
For knowing more about marketing mix click below:


Characteristics of Entrepreneur 
1. Ability to take risk
An entrepreneur need to be much courageous and have the ability to take risk. Starting a new business venture involves considerable amount of risk of failure. One never give up their hope as an entrepreneur. In every field there are various ups and downs you should stay focused towards your goals. The risk taking ability should be inbuilt in you from the starting only.

2. Innovation
As an entrepreneur you must be innovative in a way to standardise and customise your product and services. One should be highly innovative to generate new ideas, start a company and earn profit out of it. Change can be the launching of a new product that is new to the market or a process that does the same thing but more efficient and economical way.

3. Visionary and leadership qualities
An entrepreneur must have a clear vision about leading and managing his new business venture. A good leader is one who works with the organisation and takes the persons working in the organisation with himself. For being a good leader one must be a good listener first the one who listens to all is always a good leader. However, to turn the idea into reality a lot of resources and employees are required. Here, leadership quality is paramount because a leader imparts and guides their employees towards the right path of success. 

4. Flexible
An entrepreneur should be flexible and open to change according to the business environment. In a business, every circumstance can be an opportunity and used for the benefit of a company. To be on the top a business person should be equipped to embrace change in a product and services as and when needed. 

5. Know your product
An entrepreneur must have the complete knowledge about his product. He should know the target and reach of his product and its impact on the consumers. It is essential to know if the available product or services meets the demand of the current market. 

Marketing tips for an entrepreneur for launching a new startup
1. Study your competition
A startup already may have or may not have any competition in the market. For the best performance of your product you must make a good study on your competition. We should always know the strengths and weaknesses, or opportunities and threats about or market and competition. 

2. Target the ideal customer
Before starting the new plan always know the targets of your plan. Here in the startup you must know the ideal customer that you are going to target for, either it it high level income people or low level income people. 

3. Create a unique value proposition
Your product should always be unique from others in its own way. Your product should stand out of all the products that are already there in the market. The value of your product must be unique from that the others. 

4. Define your marketing strategy and tactics
One should always define there marketing strategy before launching a product in marketing. In marketing strategy there it comes choosing your sale and marketing channels. This means selecting a particular channel to sell and also performing other activities. In this step the route is selected in which all the marking activities will take place. 

5. Roll out your public relation campaigns
Public relations is the action of an organisation for promoting goodwill between itself and the society. Relations campaign means establishing the relation between the seller and consumer of good. This can be obtain providing after sal service to the consumer. Public relations campaign builds the good image of the company in the eyes of the public as good person. 

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