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Expertise to be a Good Entrepreneur

Many people think that you need to be an expert in some area before you can be a successful entrepreneur. But
if you have passion and a plan, you can learn things on the go. You don’t need to be an expert and with the right
approach, you can still do well, even without expertise.
Easy to Start Business

Starting a successful business is not an easy task. It is a tough and challenging process. The rate of failure of new
startups is quite high. Sometimes, it takes even years, before a startup turns profitable.
As an Entrepreneur, You are Free

The reality is that, at first, a start up will take over your life. You will be working more hours than you ever did at
your job. You might be on call at all hours.
ENTREPRENEURSHIP AS A CAREER OPTION

Entrepreneurship can be a good career option in many ways. There are many routes to becoming an entrepreneur.

Start a New Business Concept

You come up with a new idea for an innovative business and then figure out what resources are needed to
launch it, money, retail space, equipment, employees, and get started.

Buy a Franchise

Some people who have a strong desire to own their own business and be their own boss choose to buy a
franchise. Some find the franchise system works so well for them that they end up operating multiple stores for
a single franchiser.
Buy an Existing Business

If there’s no innovative idea of your own that you think would make a good business, you might consider buying
an existing business. This offers the chance to start out with an established small business that already has an
income stream and a core set of customers.

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A franchise is defined as an agreement between a small business owner, the franchisee, and the parent
company, the franchiser. The parent company gives the franchisee the right to sell the company’s
products and often provides support services such as advertising and supplier relationships, in return
for a franchise fee and percent of the profits.

Single Person Firm
You can subcontract your skills and become a one person consulting or services firm. You have the advantage of
being highly focused and can offer your clients lower costs, specialized services, and greater flexibility than they
would have if they tried to hire full-time employees with the same skills.

Work at Home Business

This is one of the hottest areas in the economy today. Many small business ideas can be launched from home.
This can involve everything from stuffing envelopes to running an eBay business or starting your own web site.

Advantages of Entrepreneurship as Career

u Independence: As an entrepreneur you can be your own boss.

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