Entrepreneurship is a term for self-sustained activity of transferring innovation, finance and a business idea into economic goods and profits. To do business, it can be one person or more - they are then grouped into different types of organizations. At the beginning of entrepreneurship, it is necessary to be clear in key issues:
- What is the concept, business plan and strategy? - The entrepreneur must have an idea of what goods he will create and how his business will maintain and develop, what are the risks of his entrepreneurship. He must have a clear idea about the market, which he wants to join and about its potential
- How much financial and other resources will be needed? - The entrepreneur must have prepared a cost analysis, the need for operating profit and the method of determining his price
- What financial resources are used? - The entrepreneur must have an idea of how to finance his business, where he gets for his business, the financial resources. To do business with high added value different types of venture capital are used. He can use either the equity or he can get in the financial market foreign capital.
- What legal form of company I want to take? - The entrepreneur must have an idea what type of company he will use or whether the entrepreneurship will have a different character of business
- Who will I work with? - The entrepreneur must have an idea who will be his potential business partners, who will be his suppliers, which services must be purchased, etc., who are his customers
- How will I promote my products? - The entrepreneur must have an idea of how he will offer his products and promote them in the market