• Fri. Oct 30th, 2020

Tips to successful entrepreneurship

By Florence Waithira   

entrepreneurship
entrepreneur

An entrepreneur is an individual who creates a new business and ready to bear risks. Therefore the process of setting up new ideas, goods and services and taking financial risks in the hope of a profit is called entrepreneurship.

Entrepreneurship is categorized into:

  • Innovative entrepreneurship-This involves introducing new ideas, services and products in order to start a business.
  • Drone entrepreneurship-This is an entrepreneur who refuses to adopt and use opportunities to make changes in production.
  • Fabian entrepreneurship-These are entrepreneurs who are very much skeptical in their approach in adopting or innovating new technologies in their enterprise and adopts new technology only when he is clear that failure to do so would result to heavy losses
  • Imitating entrepreneurship –These are entrepreneurs who copy the new inventions made by innovative entrepreneurs.

Top five tips for a successful entrepreneur.

  • Learn from the best-This involves getting consultation from successful entrepreneurs for guidance.
  • Taking risks-Fear of bearing risks has become an obstacle to entrepreneurs especially women. Therefore you should be ready to take risks until you become successful.
  • Visualize goals-In order to become successful you must state the goals to achieve.
  • Time management-The shortest time possible taken to invest new ideas, gives you more time to invest a lot.
  • Communication-The more you share the information about your business the more you market your business.
  • Strategic thinking-Entrepreneurship requires a lot of thinking that enables you to innovate more by bringing more new ideas and putting them to work.

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