Business: This can be defined as one's establishment in order to make profit
Difference between Entrepreneurship and Business
Entrepreneurship is solving a problem that has not being solved previously while Business is running a discovered establishment
key stoning in Business
key stone is the most important part of a plan or agruement or any matter, on which all other parts depends. Key stoning in business is a techniques which ensures that one makes profit after all expenses.
Basic Knowledge to Successful Entrepreneurship
To be properly equipped for a successful entrepreneurship, you should have a fair knowledge of the following; Supply and Demand, Solving or fulfilling of customer's needs, the invention process including patent, copyright, and trademarks, you should also know of cost/benefit analysis
An Entrepreneur also needs to asses himself with the basic questions we all know "Whom, Who, Where and What".. I will also list some questions that will help you access yourself
- Does your chosen field have scope for development?
- Do you have any experience in management and marketing?
- Have you fully studied the viability of your scheme?
- Site for establishment
- license from authorities
- Availability of raw materials
- Availability of necessary labour
- Capital
If your answer to these question is in the negative, do justice to your business by putting it right. This will ensure your success
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