B.Sc. Sem-6 assignment
Power point presentation
By
Dharam Daxini
Roll number – 133

HARD WORK, VISION,
CONFIDENCE AND LUCK ARE
INGREDIENTS OF SUCCESS
TOPIC:-

What is success ?
 success is typically defined as
“reaching a goal or accomplishing
something you've set out to achieve.”
it provides a source of motivation for people to
change their lives and values.
Success is combination of these qualities in any individual
 Hard work
 Vision
 Confidence
 Luck

Some of us call these combination
in business's terms as “entrepreneurship”
And People who owned this title known as
“entrepreneurs”
such as…
chandubhai virani odhavjibhai patel karsanbhai patel

What is entrepreneurship?
 It provides numerous opportunities for self
expression and realization of one's passion
for doing something new and different.
 Entrepreneurship leads to increase in the
national income of the country and enhance
its economic development

What is an entrepreneur ?
 French economist, J.B. say (1767-
1832),ENTREPRENEURS “shift economic
resources out of an area of lower productivity
into one of higher productivity and yield.”
 Schumpeter, (1950),an entrepreneur is a person
who is willing and able to convert a new idea or
invention into a successful innovation. “creative
destruction”
 Cassady (2008),someone who has courage ,drive
and talent to get something new started….

The entrepreneurship
paradigm
 It is all about big ideas
 They are born entrepreneurs
 You got to be first
 It is all about money
 Do something you love and the money will
follow
 Real entrepreneurs are risk takers
 I can’t do it
 Special people with big ideas, first in, taking
huge risks and making tones of money

90% of new business venture
fail
 Approximately 10% fail due to the product
 Approximately 80% fail for lack of market

A classic example of a fast
second
 Who needed a new search engine in 1998.
no one
 Who is the leader now. Google

They see the big picture

They work hard

They prepare for opportunity

They are problem solvers not
problem givers

They take on leadership roles,
no matter how small

Myths about entrepreneurship

You need money to start your
business
 This is the oldest entrepreneur's myth of all
times.The first thing that comes out when
you ask people about entrepreneurship is
that
“we need to have huge financial support
and have to be rich”
 That’s not always true ,the world has seen so
many examples of people who are self made,
and who started out without any support.

Risk taking route
 People generally believe that most successful
entrepreneurs take wild, uncalculated risks in
starting their organizations.
 Its true that risk is a major part of any
business idea but, it is mostly later in the
development of the company, when the idea
has created some real value ,do
entrepreneurs take risk of loosing it all if they
want to grow continuously.

You need to be expert

Proper planning and clear
vision
 People believe that most successful
entrepreneurs have a well-planned business idea
and they have researched and developed their
ideas before taking any real action.
 It's true that you need strategic planning and
proper research but these are later stages of
development, rather than a necessary initial
ingredient. For many startups, extensive
research and planning are generally unnecessary
and financially impossible. Ability to adapt is
much more important than a thorough,
rationalized decision making process.

You need luck to be
successful
 Bill Gates is the world's richest man, is it all
luck? Nope, luck is not an essential ingredient
for the success of a business. In addition to
the argument of luck, Bill Gates is also a very
smart and resourceful person.
 This is the story of most business people who
prospered with hard work, drive and
intelligence.

You need great idea to be
successful
 Entrepreneurship became synonymous in public
mind with "new-age" or "unconventional".This is
another common myth about entrepreneurship
i.e. lack of a great idea.
 It's true that some entrepreneurs run unorthodox
businesses, but on the other hand there are
people who are owners of a restaurant chain, or
automobile moguls and they are no less than of
entrepreneurs than unorthodox business
owners.
 Furthermore, a great idea is less important than
a profitable, proven business model.

Personality myth
 Many people believe that to be an
entrepreneur, you need to have certain
personality traits, and that people who are
entrepreneurs are born with it. Great
entrepreneurs are made through experience
and nurture and not through nature.
 If you are passionate and have a great idea,
you stand every chance to be an
entrepreneur.

Immediate success
 Most famous people in any field are the ones,
who succeeded right out of the gate. Google is
the best example in this regards, because of the
overnight success they got.
 But there is still room in the business world for
people who learn from their mistakes, who fall
and again start.There are many individuals who
saw success after a great amount of hard work.
 Winston Churchill rightly said "Success consists
of going from failure to failure without losing
enthusiasm

On your own
 starting a business by yourself is wonderful, but
it's really hard.The saying of too many cooks
spoil the broth, doesn't apply in business.You
need a partner who will share the same thoughts
of success as you.
 A Partner will help you fight the challenges
which your business will face, and will always
guide you on the right track. Having a partner
also takes off some pressure from you, in case
you need your personal time. A partner also
serves as a 2nd eye into details you might not
see or think about.

Its easy
 The idea that everyone is capable of working
for themselves easily, and that everyone can
be an entrepreneur without putting in the
effort is a myth.There are several important
differences between entrepreneurship and
employment, and some are incapable of
making the needed adjustments.
 There are some people who cannot get work
done without external pressure and for them
entrepreneurship is just a dream.

Luck or hard work?
Life stage Hard work
%
Student 90
Employee 50
Entreprene
ur
25
monk 10

Thank you
credit/source:-
Text – slideshare.com
Image - freepik.com