| Q. Which of the following is not a creative thinking exercise entrepreneurs use to generate ideas? a. Think Backward b. Challenge The Usual c. Judge Each And Every Idea As Realistic Or Not d. Draw Idea Maps Ans: One thing that does not fall under the creative thinking process of entrepreneurs is judging each idea’s “realisticness”. |
For various entrepreneurs, making a judgment of an “idea” based on its realisticness is not even an option for consideration.
This is why the answer to the question “Which of the following is not a creative thinking exercise entrepreneurs use to generate ideas?” is “Judge Each And Every Idea As Realistic Or Not.
Keep reading till the end of the article to find out more information about this topic!
Who Are Entrepreneurs?
An Entrepreneur refers to a person who both curates and operates new ventures/businesses. These people take on a lot of financial risks in the hopes of earning profit. These business people take on a lot of challenges and identify different opportunities by creating solutions.
They play a very crucial role in any sort of economy. Entrepreneurs make use of their skills and then form various initiatives for gauging the various needs of the customers and then bring out new ideas in the market.
Why Are They Important?
Entrepreneurship is known to be one of the most crucial resources that are categorized by economists as a very important part of the process of production.
These people commonly have to face a lot of hindrances when they are working towards building up their companies.
The three main obstacles that people, who are in the field of Entrepreneurship, face are:
- bureaucracy
- funding
- hiring of proper talent
Only after overcoming all of these factors do the start-ups gain absolute success in the market and then go on to become a leader in the niche in which they provide their products and services.
Who Is Fit To Be An Entrepreneur?
Even if the possibilities and scope look well and good, you are still going to have to make sure you are considering all of the worst-case scenarios that you might encounter when embarking upon this path.
There are a lot of obstacles and hindrances that you might encounter when you go on the journey of becoming an Entrepreneur – a lot of financial risks are involved!
You also need to make a thorough assessment of your leadership skills. This is especially important because you are going to have to hire people for your business.
Tip: If you missed out on my answer on “Which of the following is not a creative thinking exercise entrepreneurs use to generate ideas?”, then you can go back to the first section of the article, to give it a read.
An Effective Guide To Successful Entrepreneurship
Here is an effective guide to curating a successful entrepreneurship venture in the market:
Creating A Plan
Having a business plan is the first and foremost thing that should be covered before getting started with opening up a new business. It aids in keeping things organized and in check.
Entrepreneurs always need to have a unique value proposition in place to stand out amongst other competitors who offer services and products of the same niche. They always have to have a unique idea for a plan that can positively attract customers.
Having The Apt Skills For Success
Entrepreneurs also need to have the capacity to envision the way they want their company to grow in the future. These sorts of long-term goals aid in determining the steps and strategies required for reaching the goals.
Even more so, having a basic understanding and knowledge regarding the different concepts of finance is something that is going to help in preparing for the business more logically.
Tip: If you are a person who is not that great in communication then it is not going to prove to be fruitful for you opting for this business path. As you are the boss of your own business, when you hire more talent under you, there’s going to be a requirement for an effective form of communication – between all of you.
Knowing The Customer
It is also very important for companies to get a proper grasp and gain more perspective into who exactly their target customer base is.
Knowing about the customers positively helps entrepreneurs and grants a crucial opportunity for targeting them properly and effectively.
Financial Calculations
Entrepreneurs often underestimate the difficulties of launching a new company. It takes a lot of time to gain both the attention and trust of the potential customers. This leads to the start-up capital getting quickly depleted.
Hence, it is only advised for them that they add five to ten percent more capital to the overall budget of launching their initial start-up.
Planning/Writing
This is very similar to a point I also discussed earlier, but because this is so important, I am going to say it again!
Entrepreneurs need to formulate a plan and then document it. This is going to serve as a base plan for the business. It is actively going to aid in keeping things organized.
To Wrap It Up!
If you are thinking about opting for a new business venture then I wish you all the luck in it. But make sure you have the necessary skills and assets that are needed to get started with it.
Thank you for reading up till the end of the article. I hope you found the information regarding “Which of the following is not a creative thinking exercise entrepreneurs use to generate ideas?” useful.
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