Entrepreneurship is the activity of setting up a business or businesses, taking on financial risks in the hope of profit. As an undergraduate student, it is very important that you add Entrepreneurial skill even if you didn’t study entrepreneurship. The world today has grown beyond depending on the government for provision of jobs. Entrepreneurship is the soul of every nation’s economy. Undergraduate students need to understand the importance of having a skill even if it’s one. It will help them greatly even while in school and after graduation. There are various books; undergraduate projects on entrepreneurship that students can lay hands on to improve their knowledge on entrepreneurship.
When you have a skill, you will not have to depend on the government to provide job for you, and you would become an employer of labor yourself with time and by so doing, you are contributing to the economy of the country. When you start to develop entrepreneurship potential from school, it will be easier for you to run your own business or organization after graduation rather than staying idle and waiting on the government for a job that may never come. Everybody has entrepreneurship potential in them no matter how little just that some people have not discovered it may be because the opportunity has not presented itself while for some they need to boost the entrepreneurship potential in them.
ENTREPRENEURSHIP
Entrepreneurship is the creation or extraction of value. With this definition, entrepreneurship is viewed as change, which may include other values than simply economic ones.
A person who undertakes the risk of starting a new business venture is called an entrepreneur. An entrepreneur creates a firm, which aggregates capital and labor in order to produce goods or services for profit. Entrepreneurship is an important driver of economic growth and innovation.
An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of his or her business venture. Marketing, sales and distribution are other important aspects which are controlled by the entrepreneur.
HOW TO BOOST ENTERPRENEURSHIP POTENTIAL
A) GO FOR WHAT YOU HAVE PASSION FOR
One of the ways to boost entrepreneurship potential is by going for what you have passion for. Whatever you have passion for, you will look for ways to grow and you will put your best in it to make sure you get the best out of it. Entrepreneurship needs total and complete dedication, consistency, commitment, innovation, patient among others. And you can only put in these things if you have passion for it. It is very important that in whatever you decide to do or are doing, it is something you have interest and passion for. It shouldn’t be something you were cajoled into or forced to do. If that be the case, you may never boost your entrepreneurship potential in you but would rather lead to its death.
B) READ BOOKS ON ENTERPRENEURSHIP
There is a saying that if you are not informed, you are deformed. Reading is one of the ways to be informed and grow both in business and otherwise. Therefore, if you must boost your entrepreneurship potential, you must read books on entrepreneurship. There are books on entrepreneurship that will help you on how to grow a business with limited resources and also how to plan for the future of the business.
C) HAVE A ROLE MODEL
Having role model that you look up to in business is highly advised and encouraged if you must go far as an entrepreneurship. A role model is someone you look up to, someone you emulate and see as an example to what you want to become in life or want to achieve in life. Therefore, it is pertinent that you have someone you look up to especially if you want to boost your entrepreneurship potential. You must also ensure that whoever you are using as a role model must be in the same niche as you so that you can be learning firm him/her and also read about how they started and how they got to where they are today that you admire. So having a role model is one of the ways to boosting your entrepreneurship potential.
D) LEARN FROM PEOPLE’S MISTAKES
We learn from other people’s mistake. You must ensure not to repeat the mistake done by others. That is why reading books on entrepreneurship is very important because from there you can read about the mistakes of some entrepreneurs and how they overcame them. You the reader is expected not to repeat same mistake but to try as much as possible to avoid them and improve on their successes.
E) BE COMMITTED
Commitment is highly needed in entrepreneurship and if you must boost your entrepreneurship potential, then you must be highly committed to it. Every business needs commitment and dedication. That is why from the onset it is advised that you go for what you have passion for. Because when you have passion for something, you will be committed to it. When you choose your business yourself and have passion for it, you will be your own motivation because you will really want to improve and succeed in it.
CONCLUSION
Conclusively, it is important that undergraduate student boost their entrepreneurship potential as it will be what they will lay back to after school especially with the rate of unemployment in the country today.