Question

A creative Network solution company , formed by three young entrepreneurs in the year 2020. They started with the cutting edge of user experience in Branding, Web design and Digital Marketing. Mr. Anirudh, a graduate Mechanical engineer (worked as a business analyst for more than a decade) is the CEO of the company He takes a unique approach to innovation and business ideas. He saw an interesting opportunity in applying the teams knowledge and expertise in developing various needs of the customer. These insights slowly worked their way to business plans and ultimately into an operating business.

It was not the idea, inspiration or even the technology that defined the business. It was the team spirit starting with general idea of where they wanted to for, they built a team and the let the team find its own way.
They wanted to focus on building the best team which can pivot and create new value when confronted with obstacles. Since a low amount of capital available with them to build up start ups they tapped into their network. Starting with avaiable resources in the initial months and with revenue they brought in, they began to refine their processes and ideas over a period of time.
Over a period of two years, strength of company has increased to 25 and sales turn over started improving. But cash inflows were affected as the customers started delaying their payment, putting the company into financial difficulties. They approached the bank for getting OD limits sanctioned, which was rejected by bank saying that you have not finished two years of operation. Angel investment and crowd funding agencies are nto ready to invest in service industry.

What are the qualities required for a entrepreneur?

Answer 1

Entrepreneurs need to innovate, build effective teams, be resourceful, and resilient. Investing their own money demonstrates belief in their business, and networking skills are crucial for securing funding. cafting compelling business plans and forming relationships with investors can overcome capital challenges.

Step-by-step explanation:

The qualities required for an entrepreneur, especially in the context of leading a startup like A creative Network solution company, involve a blend of vision, tenacity, and willingness to take risks. entrepreneurs must demonstrate confidence in their business by investing their own capital and time as this shows a belief in the company's prospects. Key factors that contribute to successful entrepreneurship include:

• Innovation – The ability to create and apply new ideas to generate value.
• Team-building – Cultivating a team that can adapt and pivot when faced with challenges.
• Resourcefulness – Tapping into available networks and resources to overcome initial capital shortages.
• Resilience – Persisting through financial difficulties and setbacks, like delayed customer payments.

An entrepreneur should also be adept at networking to secure funds from angel investors venture capitalists or through crowd funding. understanding these funding sources helps bridge gaps in capital and supports early growth stages. it's essential for entrepreneurs to craft compelling business plans and personal relationships with investors, offering them confidence in the business's potential despite the inherent risks of a young startup firm.