5 Steps to be a Entrepreneur
First you should write your basic idea , Understand do you want to market product or service. Think 100 times till you are satisfied with “how this can add value to a consumer”
Do some research on search engines on similar products or service and learn all possible aspects.
Once you are confident that your Business idea can make a difference to a consumer present it to your family members or to your close friends. Seek their feedback.
Once the feedback is good invest time further on the idea, seek assistance of professional business plan experts.
If you are able to complete up to step 5 without losing interest there is a business man in you.
Forecast Plan for Entrepreneurs
Background of the Entrepreneur.
Market Potential and Marketing Strategy.
Selection of Location.
Requirement of Land and Building.
Requirement of plant and Machinery.
Requirement of Utilities.
Requirement of Raw Materials.
Estimated Cost of the Project.
Cost of production and profitability.
Proposed means of finance.
Break Even Point.
Cash Flow Statement.
Internal rate of Return.
Advantages of being a Business Owner
The freedom to try new things and make their own mistakes
The power to control their own destiny and the ability to put their stamp on things