What is an entrepreneurship?
When asking what is an entrepreneurship, you need to start at the beginning and have an understanding of the main roles of an entrepreneur. We look at how to run a small business and entrepreneurship ideas when starting your own business.
The definition of entrepreneurship, according to the business news daily, “is the development of a business from the ground up — coming up with an idea and turning it into a profitable business.”
Successful business ideas are one of the key characteristics of an entrepreneur. Other entrepreneur characteristics consist of:
- The ability to think outside of the box
- Having a full understanding of where the gaps in the market are
- Being brave and taking calculated risks
- Goal driven approach to success
- Using creative persistence with a “never give up approach”
When coming up with great business ideas the most important grounding you need as an entrepreneur is to have a solid business plan. This requires strategic thinking as well as a disciplined approach to everyday tasks. Important to remember is that the actual process of your business plan creation is more important than the actual plan itself.
When starting your own business it is important to look at the risk vs reward. Looking at your actual expenses and how long it will take you to make a profit or even to make ends meet, to alleviate the common pressures felt within your first year of operations so that you do not kill your creativity in arriving at your unique business ideas.
Our suggestion would be to create a list of business ideas that look at your entrepreneurial business vision to keep looking back on. Ensuring that you do not get lost in the moment and potentially stray from your end goal.
By creating a small business ideas list you will be guided by your creativity and you will effectively be enabled to document your innovative business ideas for easy reference.
Easy business ideas consist of these 5 key steps:
- Idea generation
- Market research
- Effective documentation
- Selection and implementation
- Continual measurement
The best business ideas follow an iterative process, where you continually follow the 5 key steps ensuring that innovation is core to your business and that you stay ahead of the curb.
Entrepreneurship in South Africa, is booming as a culture. New business ideas are borne from the current economic climate with the reality of job shortages and the desire to “be my own boss”.
Business image is key in delivering smart ideas into the market place.
Entrepreneurs need a “home base” for their ideas to thrive. Whether you are looking for a one man office or you have a partner on board where you require a two man office we are here to support you. Speak to us, even if you are not quite there, as virtual could be your launch pad into success.
Entrepreneurs in South Africa are heavily reliant on lower operational costs and that is where we offer support to ensure that entrepreneur ideas are given an environment to thrive in and that entrepreneurs are afforded a professional image when starting out.
You need to look at every aspect of how your business and ideas will be enabled to blossom to the success that you know it can be. Look at your ideal business scenario. For example will fast internet give you more time to be creative, enable effective communication?
Don’t let the little things hold you back, invest in your idea and become a force to be reckoned with.