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Posted in Community : Startup World
 

Risk of Entrepreneurship

Industry : Management & Strategy ConsultingFunctional Area : Success Stories(Entrepreneurship)
Activity: 0 referals  343 views;  last activity : 1 day ago

You may be thinking of starting a business as you are tired of the work you've have been doing years. But starting a business is not an easy task, its a nerve wracking journey.
Lets have look at some of the risk an entrepreneurship holds.

 
 
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1 2 3 4
1 Essentials for success in business
2 Fear of Failure
3 Time Mismanagement
4 Lack of budget for marketing

Essentials for success in business

idea posted by Sini Consultant, Sprinkles HR Solutions Pvt. Ltd.
You are not suppose to start a business only b'z you have surplus money with you or you have a good product. To succeed a business, of course finance is needed but the success lies in the ability to drive a business with all the necessary support both human and technical areas by seeing the possibility of failure (risk) but with the ability to manage and overcome the same and by achieving the set target and above that.
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Fear of Failure

idea posted by Jitena Kumar Rawat Senior Consultant, GKC
You shouldn't be in business and work somewhere else if you are
1) not fully aware that your business could fail
2) not willing to take risks
3) terrified of failure

Failure goes in hand in hand with entrepreneurship.

Fear of Failure is the biggest risk of an entrepreneurship

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Time Mismanagement

idea posted by Sudeep Tarafdar Senior Consultant, IBM
Time Mismanagement is another risk I see in entrepreneurship.Most the business fail within the first year because the owner couldn't get a handle on work time versus the rest of life time.Owner either spend all of their time working, or they can't quite keep themselves on a schedule.
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Lack of budget for marketing

idea posted by amit chaudhry Senior Consultant, IML

Most new businesses simply don't have large marketing budgets. and it should not be an excuse for not marketing. Because if you're not getting your name out there, someone else will...use non expensive marketing tools like networking.

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Join networking groups, chambers of commerce or industry organizations for an inexpensive marketing tool. Attend events where you'll meet new people and distribute your business cards.


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