What is Entrepreneurship?
Entrepreneurship refers to creating and managing a new business venture along with facing uncertainties to generate a profit.
Finding problems and then solving them, is the basics of entrepreneurship
Now, one will confuse it with Business, So the difference between entrepreneurship and business is the main focus of businessman is to generate money on the old settled business. They play with their stereotype idea, instead entrepreneurs focus on innovating something new, creating value and then generate profits.
Entrepreneurship plays a vital role in economic development as they innovate something new, impose creativity and take things to a next level.
Who is an Entrepreneur?
An entrepreneur is a responsible individual to set up an enterprise, improvise their ideology to value creation to the end-user and though earns revenue. An entrepreneur has to face many challenges and bear the risks, as they have to curate everything from the scratch and though they enjoy rewards as well.
Wanna be Entrepreneur?
Wanna help the economy to grow?
Have an idea but facing a problem implementing it?
Here’s us “Olance India” that will help as a Business Startup Guide for starting a new entrepreneurial journey.
This article for the upcoming entrepreneurs who want to start their entrepreneurial journey in the corporate world.
The important activities or tasks that are important to set up an enterprise or business entity are enlisted here, follow the step-by-step checklist for transforming your business from an idea in your mind to a real entity.
- Find a unique business idea
- Business Plan
- A business Entity to start over (a form of business)
- Legal registrations according to business need
- Logo
- Trademark
- GST
- A website for digital presence
- Digital Marketing
1. Find a Unique business idea: – If you are going to start a business, you are likely to have a unique business idea for what you want to offer. You have to clear some important points for your business ideas-
- Conduct a SWOT Analysis for your business.
- Set your target customers.
- Brainstorm your business name.2. Business Plan: -A well-written business plan can answer many questions like-
What is the purpose of the business?
How will you finance the startup cost of the business?
What are the end goals of the business?
A business plan can be created by following the checklist listed below:
- Write your business executive summary.
- List your goods and services what you are going to serve and fulfil customers’ needs and solving their problems.
- Create a financial plan.
- Create a marketing and sales plan.
- Write the company overview.3. A business Entity to start over: -To start up a business entity it is necessary to choose a form of business which you are analyzed starting.
What type of business entity to choose?
4. Legal registrations according to your niche:
–Before you start a business comfortably you should get your firm or business entity registered legally.
It can be
- Partnership firm
- Sole proprietorship
- Company
- LLP
- Or any form of business entity
5. Logo: – It is an important element to make up your business a brand. Your logo should be clear and concise and give effective meaning. A nice logo can attract customers and other prospects.
6. Trademark: – Trademark refers to an intellectual property/ intangible asset for your business. It is a unique identity for your company’s products and services which emphasises the customer’s mind.
7. GST Registration: – Goods and services tax is a value-added tax that is levied on the supply chain. In today’s era, GST is really important for every business entity.
8. A website for digital presence: – In this digital world that we live in, A website is a basic essential for your business. Helps you get a digital or online presence as there where your audience is. The activities like tracking and monitoring will help you to improve your online presence which will positively impact the audience how they perceive your business. It also helps you to reach out to a large number of prospects with a way cheaper cost them offline marketing. This will also help you to increase your sales in the future.
9. Digital Marketing: – Digital marketing is highly accessible for all types of businesses. Digital Marketing has a very wide range. Entrepreneurs can start off thinking about the customer’s needs and expectations from a product or service. They can reach out to customers digitally and engage with a high number of potential customers. Customers can contact through digital marketing.
Olance India has an amazing plan of BSP (Business starter pack) to help you out with all the above-mentioned points.
Our Motive is to help you grow and develop Society as an entrepreneurial society.
To fulfil our motive, we are trying to provide you with all services at a very low cost for others as we always promote the Entrepreneurs.
Our Legal Assistance partner is Legalwiser. A panel of highly qualified experts in their field. Feel free to contact us for any kind of assistance.
