entrep

• 1. Development of Managerial capabilities- this means that one of the benefits an entrepreneur gets is to develop his managerial skills.
  2. Creation of Organizations- which means that because of entrepreneurships many organizations will exist.
  3. Improving standard of living- this means that entrepreneurship can lift up the economic status of an individual.
  4. Means of economic development- this means that not only the life of the entrepreneur is improved but also thesociety where the business is located.
• The word “entrepreneur” was derived from the French verb entreprendre, which means “ to undertake” This is pinpointing to those who ”undertake” the risk of enterprise. The enterprise is created by an entrepreneur and the process is called“Entrepreneurship”
• 1. Initiative- which means doing things even before being told
• 1. Proactive-which means he can classify opportunities and seize it.
• Problem Solver- which means he can retain good relations with other people
• 1. Perseverance-meaning he will pursue things to get done regardless of challenges
• 1. Persuasion- means that he can entice people to buy even if they don’t.
• 1. A Planner- meaning he makes plan before doing things and do not fail to monitor it
• 1. Risk-taker which means that he is willing to gamble but he will calculate it first.
• 1. Decisive- an entrepreneur must be firm in making decisions.
• 1. Communicator- an entrepreneur must have a convincing power.
• 1. Leader-an entrepreneur an entrepreneur must have the charisma to be obeyed by his employees
• 1. Opportunity seeker- an entrepreneur must have the ability to be the first to see business chances.
• 1. Proactive- controlling a situation by making things to happen or by preparing for possible future problems.
• 1. Risk Taker- they have the courage to pursue what is their business ideas.
• 1. Innovative- the entrepreneurs have big business ideas and they do not stop improving and thinking of newworthwhile ideas for their business.
• 1. Economic and dynamic activity- Entrepreneurship is an economic activity because it involves the creation andoperation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.
•     Entrepreneurial gut game. This refers to the ability of the entrepreneur of being intuitive. This also known as intuition. The gut game also means confidence in one’s self and the firm believes that everything you aspire can be reached.
•  Entrepreneurial heart flame. Entrepreneur's driven passion, they are attracted to discover satisfaction in the act and process of discovery. Passion is the great desire of an entrepreneur to achieve his/her goals.
• Entrepreneurial mind frame. This allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation. Being a risk - taker, an entrepreneur can find solution when problems arise.
• Opportunity seeking - Process of considering, evaluating, and pursuing market based activities that are accepted to be beneficial for the business.
• Entrepreneurial process - can be defined as the steps taken in order to begin a new enterprise. It is a step-by-step method; one has to follow to set up a business. Entrepreneurial ideas - an innovative concept that can be used for financial gain that is usually centered on a product or service that can be offered for money.
• Essentials of entrepreneur’s opportunity seeking - These are the basic foundation that the entrepreneur must have in seeking opportunities, such as entrepreneurial mind frame, heart flame and gut game.
• Sources of opportunity - can be attain by assessing and looking at changes in the environment; technological discovery and advancement; government’s thrust, programs, and policies; people’s interest, and past experiences.
• External environment - refers to the physical environment, societal environment, and industry where the business operates.
• Government - refers to the local government (municipality, city, or provincial) or the national government and its branches.
• Competition – it is the act or process of trying to get or win something.
• Substitute – anything that takes the place or function of another.
• New entrants – the one who enters something.
• Suppliers – are the one that provide something that is needed or wanted.
• Buyers – are the one that pays cash in exchange to your goods and services.
• Rivalry – is a state or situation in which people or groups are competing with each other.
• 1. Identify a problem or need. What are the things that people struggle with on a daily basis? What are the pain points in your own life or the lives of those around you? Once you've identified a problem, start brainstorming potential solutions. The more specific you can be, the better.
• • Pay attention to trends. What are the latest trends in your industry or in the world in general? Can you come up with a product or service that capitalizes on one of these trends?
• • Don't be afraid to experiment. The only way to know if your idea is going to work is to try it out. Don't be afraid to experiment and make changes along the way.
• • Look for inspiration in unexpected places. Sometimes the best ideas come from the most unlikely sources.Talk to people from different walks of life, read books and articles on a variety of topics, and spend time outdoors. You never know where you might find inspiration.
• 1. Be patient. It takes time and effort to build a successful business. Don't get discouraged if you don't see results overnight. Just keep working hard and believing in your idea.
• Talk to people. Get feedback on your ideas from friends, family, potential customers, and experts in the field. The more feedback you get, the better you'll be able to refine your idea and make it into a viable business