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Majumdar 1
ENTREPRENEURSHIP
ENTREPRENEURSHIP
WHY?
WHAT?
HOW?


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Life of Choice
or
Life of
Compromise?
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Your house
Life of Choice
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Your house
Life of Compromise
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Your travel
Life of Choice
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Life of Compromise
Your travel
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Life of Choice
Your shopping
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Life of Compromise
Your shopping
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Life of Choice
Your vacation
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Life of Compromise
Your vacation
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"Going to work for a large
company is like getting on a train.
Are you going sixty miles an hour
or is the train going sixty miles an
hour and you're just sitting still?"
J. Paul Getty
American Oil Tycoon, Billionaire
(1892-1976)
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"If you can actually
count your money, then
you're not a rich man."
J. Paul Getty
American Oil Tycoon, Billionaire
(1892-1976)
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DREAM
SMART DREAM
Specific
Measurable & Motivational
Attainable
Realistic & Relevant
Time bound & Track able
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DREAM + DATE
= GOAL
GOAL + PLAN +
ACTION
= SUCCESS
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DREAM
-VISUALIZE
-VERBALIZE
-VITALIZE
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ATTITUDE
POSITIVE?
NEGATIVE?

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SELF IMAGE
POOR?
HIGH?
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ACTION
-The only place where your
dream becomes impossible is in
your own thinking have faith in
yourself, you can do it.

-The truth of the matter is that
you always know the right thing
to do. The hard part is doing it.
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Novelist Sinclair Lewis was supposed to deliver
an hour-long lecture to a group of college
students who planned to be writers. Lewis
opened his talk with a question:

"How many of you really intend to be writers?"

All hands went up.

"In that case," said Lewis, "my advice to you is
to go home and write."

With that, he left.

- NEVER GIVE EXCUSITIS
- NEVER PROCRASTINATE
- NEVER BE COMPLACENT
- GET EXCITED AND ENTHUSIASTIC
ABOUT YOU OWN DREAM
- FORGET ABOUT THE CONSEQUENCES
OF FAILURE. FAILURE IS ONLY A
TEMPORARY CHANGE IN DIRECTION
TO SET YOU STRAIGHT FOR YOUR
NEXT SUCCESS.

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Motivation
Motivation is the activation
or energization of goal-
oriented behavior
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Motivation
Direction
Persistence
Intensity
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Direction
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I was saying
"I'm the greatest
long before
I believed it.
Intensity
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It's not that I'm
so smart, it's just
that I stay with
problems longer.
Persistence
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Self-Motivation
Self-fulfilment and satisfaction
Difficult goals lead to higher
performance
Motivation to act depends on the
attractiveness of the outcome
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Begin with the end in mind
What are your talents?
What is your ultimate career
goal?
What are your personal goals?
What can you achieve in 2
years?

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SUCCESS YOU FAILURE
YOU FAILURE SUCCESS
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SUCCESS
-SUCCESS IS A DECISION
-SUCCESS IS A JOURNEY
-SUCCESS IS THE
SWEETEST REVENGE

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NEW
VENTURE
How Entrepreneurs Identify New
Opportunities
A key question that all would-be entrepreneurs face
is finding the business opportunity that is right for
them. Should the new start-up focus on introducing
a new product or service based on an unmet need?
Should the venture select an existing product or
service from one market and offer it in another
where it may not be available? Or should the firm
bank on a tried and tested formula that has worked
elsewhere, such as a franchise operation?
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The question that confronts anybody who is thinking
of starting a new business or company is, how do
you find the opportunity that's right for you?
There are many sources for new venture opportunities
for individuals. Clearly, when one see inefficiency in
the market, and one has an idea of how to correct that
inefficiency, and has the resources and capability--or
at least the ability to bring together the resources and
capability needed to correct that inefficiency--that
could be a very interesting business idea. In addition,
if one see a product or service that is being consumed
in one market which is not available in the home
market, one could perhaps import that product or
service, and start that business in ones home country.
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There is certainly no formula to
become a successful entrepreneur.
Some may succeed and make good
profits, others sink along the way.
Which are the most lucrative
sectors for entrepreneurs? Here's a
list of 20 good opportunities
entrepreneurs can look at...
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20 good opportunities in India for entrepreneurs

1. Tourism
2. Automobile
3. Textiles
4. Social ventures
5. Software
6. Engineering goods
7. Franchising
8. Education and
Training
9. Food Processing
10. Corporate
demands

11. Ayurveda and traditional
medicine
12. Organic farming
13. Media
14. Packaging
15. Floriculture
16. Toys
17. Healthcare sector
18. Biotechnology
19. Energy solutions
20. Recycling business
What is a Micro, Small or Medium Enterprise?

The earlier concept of Industries has been changed to
Enterprises

Enterprises have been classified broadly into:

(i) Enterprises engaged in the Manufacture / production of
Goods pertaining to any industry; &

(ii) Enterprises engaged in providing / Rendering of services.
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Manufacturing enterprises have been defined in terms of investment
in plant and machinery (excluding land & buildings) and further
classified into :
Micro Enterprises - investment up to Rs.25 lakh.
Small Enterprises - investment above Rs.25 lakh & up to Rs.5 crore
Medium Enterprises - investment above Rs.5 crore & up to Rs.10 crore.

Service enterprises have been defined in terms of their
investment in equipment (excluding land & buildings) and further
classified into:
Micro Enterprises - investment up to Rs.10 lakh.
Small Enterprises - investment above Rs.10 lakh & up to Rs.2 crore.
Medium Enterprises-investment above Rs. 2 crore & up to Rs.5 crore

It is not necessary to engage in manufacturing activity for self-
employment. One can set up service enterprises as well .
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takes on the risk of

starting their own
enterprise or investing in
other start-ups.

Finding innovation
and market gaps for
new products and
services.
Entrepreneur Origin of the term
ENTREPRENDRE
(19
TH
C. FRENCH WORD):

means somebody who
undertakes.
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CHARACTERISTICS OF
SUCCESSFUL ENTREPRENEURS
Successful entrepreneurs
are independent
are self-confident
have determination and perseverance
are goal-oriented
have a need to achieve and to set high
standards for themselves
are creative
are able to act quickly
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Entrepreneurial skills :
creativity
problem solving
decision making
communication
CREATIVITY
&
INNOVATION
There is no such thing as being more creative
you are already a creative being
1. Persistence Innovation involves more than just great ideas.
We need faith, hard work and a laser sharp focus for the end result
to keep persisting for our vision in the face of roadblocks. We tend
to see the end result of a creative idea in awe, but what we dont
see are the actions, hard work and persistence behind the scene to
make the vision a reality.
Invention is 1% inspiration, 99% perspiration,
Thomas A. Edison
2. Remove Self-Limiting Inhibitions Under the spell of
inhibition, we feel limited and stuck. We need to free ourselves from
these mind-created constraints by removing assumptions and
restrictions. This is what we refer to when we say think outside the
box. Encourage ourselves to be open to new ideas and solutions
without setting limiting beliefs. Remember, innovation is more about
psychology than intellect.
3. Take Risks, Make Mistakes Part of the reason why we create
self-imposed inhibition is due to our fear of failure. Expect that
some ideas will fail in the process of learning. Build prototypes
often, test them out on people, gather feedback, and make
incremental changes. Rather than treating the mistakes as
failures, think of them as experiments. Experiment is the
expected failure to deliberately learn something. (Scott
Berkun). Instead of punishing yourself for the failures, accept
them, then take your newfound knowledge and put it towards
finding the best solution. Live up to your goal of producing the
best result, but understand you might hit roadblocks along the
way.
I have not failed. Ive just found 1,000 ways that wont work.
Thomas A. Edison
4. Escape Our environment can and does effect how we feel.
The more relaxed and calm we are internally, the more receptive
we are to tap into our flowing creativity. This is why ideas
sometimes come to us in the shower or while were alone. Each
of us have different triggers to access our creative energy. I get
into the creative zone from sitting at my dining table, with a
warm cup of chai, and my noise-canceling headphones. Many
great thinkers go on long walks to help them solve problems.
Experiment and find what works for you.

5. Writing Things Down Many innovators and creative people
keep a journal to jot down ideas and thoughts. Some keep a
sketch book, scrap book, post-it notes, loose paper. They all
have a method to capture their thoughts, to think on paper, to
drop their inhibitions and start the creative process. Leonardo
Da Vincis famous notebook was purchased by Bill Gates for
$30.8 Million dollars.
6. Find Patterns & Create Combinations Ideas
come from other ideas. Did you know that Edison
wasnt the first one who came up with the invention of
the light bulb? He was the first to build a workable
carbon filament inside a glass bulb, that made light
bulbs last longer. You can increase your exposure to
new ideas, look for patterns and see how you can
combine ideas to improve upon existing solutions.
7. Curiosity Many innovators are just curious people
who are inquisitive, and like to solve problems.
Practice. For example, When seeing the solution to a
problem, ask yourself What are some alternative
ways to doing this ? Ask a lot of questions and
challenge the norms or existing methods.

10 Mental Blocks to Creative Thinking

1. Trying to Find the Right Answer
One of the worst aspects of formal education is the focus on the
correct answer to a particular question or problem. While this
approach helps us function in society, it hurts creative thinking
because real-life issues are ambiguous. Theres often more than
one correct answer, and the second one you come up with
might be better than the first.
Try reframing the issue in several different ways in order to
prompt different answers, and embrace answering inherently
ambiguous questions in several different ways.

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2. Logical Thinking
Not only is real life ambiguous, its often illogical to the point
of madness. While critical thinking skills based on logic are
one of our main strengths in evaluating the feasibility of a
creative idea, its often the enemy of truly innovative
thoughts in the first place.
One of the best ways to escape the constraints of your own
logical mind is to think metaphorically. One of the reasons
why metaphors work so well in communications is that we
accept them as true without thinking about it. When you
realize that truth is often symbolic, youll often find that
you are actually free to come up with alternatives.
3. Following Rules
One way to view creative thinking is to look at it as a destructive
force. Youre tearing away the often arbitrary rules that others
have set for you, and asking either why or why not
whenever confronted with the way everyone does things.
This is easier said than done, since people will often defend the
rules they follow even in the face of evidence that the rule
doesnt work. People love to celebrate rebels like Richard
Branson, but few seem brave enough to emulate him. Quit
worshipping rule breakers and start breaking some rules.
4. Being Practical
Like logic, practicality is hugely important when it comes to
execution, but often stifles innovative ideas before they can
properly blossom. Try not to evaluate the actual feasibility of an
approach until youve allowed it to exist on its own for a bit.
Spend time asking what if as often as possible, and simply
allow your imagination to go where it wants. You might just find
yourself discovering a crazy idea thats so insanely practical
that no ones thought of it before.
5. Play is Not Work
Allowing your mind to be at play is perhaps the most
effective way to stimulate creative thinking, and yet many
people disassociate play from work. These days, the people
who can come up with great ideas and solutions are the most
economically rewarded, while worker bees are often
employed for the benefit of the creative thinkers.
6. Thats Not My Job
In an era of hyper-specialization, its those who happily
explore completely unrelated areas of life and knowledge
who best see that everything is related.
Sure, youve got to know the specialized stuff in your field,
but if you view yourself as an explorer rather than a highly-
specialized cog in the machine, youll run circles around the
technical master in the success department.
7. Being a Serious Person
Most of what keeps us civilized boils down to conformity, consistency,
shared values, and yes, thinking about things the same way everyone
else does. Theres nothing wrong with that necessarily, but if you can
mentally accept that its actually nothing more than groupthink that
helps a society function, you can then give yourself permission to turn
everything thats accepted upside down and shake out the illusions.
8. Avoiding Ambiguity
We rationally realize that most every situation is ambiguous to some
degree. And although dividing complex situations into black and white
boxes can lead to disaster, we still do it. Its an innate characteristic of
human psychology to desire certainty, but its the creative thinker who
rejects the false comfort of clarity when its not really appropriate.
Ambiguity is your friend if youre looking to innovate. The fact that
most people are uncomfortable exploring uncertainty gives you an
advantage, as long as you can embrace ambiguity rather than run from
it.
9. Being Wrong is Bad
We hate being wrong, and yet mistakes often teach us the most.
Thomas Edison was wrong 1,000 times before getting the light bulb
right. Edisons greatest strength was that he was not afraid to be
wrong. The best thing we do is learn from our mistakes, but we have
to free ourselves to make mistakes in the first place. Just try out your
ideas and see what happens, take what you learn, and try something
else. Ask yourself, whats the worst that can happen if Im wrong?
Youll often find the benefits of being wrong greatly outweigh the
ramifications.
10. Im Not Creative
Denying your own creativity is like denying youre a human being.
Were all limitlessly creative, but only to the extent that we realize that
we create our own limits with the way we think. If you tell yourself
youre not creative, it becomes true. Stop that.
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Great Courage
Thanks !!!!
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Jessica was born without
arms as a result of a rare
congenital disease
Like every child, she did not
understand why she had no
arms as did the other
children
It was difficult to be
different.
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Regardless of that, she took part in
different activities such as
gymnastics, dancing and singing,
frequently participating in large
presentations
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When she was young she frequently felt
opposed, downtrodden and on the verge
of tears resulting from anger due to her
lack of arms; given this, she placed all her
energy in the practice of sports.
For Jessica, the main challenge of being
born without arms was the constant
perception of others more than the
physical adversity
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I had the habit of becoming very upset when people look at me walking in the street
or eating with my feet. However, I learned to look only at the positive side of
situations and this gave me the ability to utilize these positive vibrations to become an
example for optimism.
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Jessica considers her parents as role models to be followed and as pillars for her. My
mother is my model and she always told me that I could do all that I wanted to do. My
father never shed a tear since my birth as he does not consider me to be a victim. It is
difficult to be the father of a handicapped person. He was my base during the difficult
moments and it was he who forged the person I am today."
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The first time I learned to drive a car, it was thanks to some modifications.
Even with that, after having learned well, I decided to remove the
modifications placed in the car and now I hold a driving permit without
restrictions
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Holder of a degree in Psychology from the University of Arizona, she always attracts
attention when she fills her car with gas.
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She is able to write 25 words per minute, dry her hair, put on her make-up, and
wear her contact lenses at the same ease as anyone
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Jessica, 26 years old and 1.55 meters tall, is the first lady
in history to pilot a plane without arms
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This inspiring lady and heroine for numerous persons, irradiates always joy and is
proof of having a great sense of humor ; on Mothers Day last year she flew alone
by herself without anyone accompanying her, dragging a notice board saying simply
: Look Mom, without arms !
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Sometimes fear starts from the lack of knowledge of the unknown. As soon as I started
flying, I realized that my fear came because I knew too much about the subject .
There is a universal fear, that of the lack of confidence in yourself."
That day, she registered approximately 130 hours of flight time by herself
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Thanks to her confidence, her preparation
and ambition, Jessica has traveled a long
path to become that which she is today
Afte becoming an outstanding speaker
(www.rightfooted.com), she was also a childrens
guide in the International Network of
Children Amputees during the last five years.
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Between laughs she says the hardest part
will be a suitor asks her hand from her
parents.
Jessica Cox hopes to marry and have
children.
I know that it will be difficult to form a family, but I
know that I will be a good mother.
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The human being must live some difficult moments in
life to have emotional moments.
Our great fear is not so much to not be up to
measure, it is that we are stronger over and above all
measure.
I do not have arms but that is not what determines where I
can go"
The greater the difficulty, the greater the glory.
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TOUGH TIME
NEVER LAST
TOUGH PEOPLE
DO
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