IT

Entrepreneur
Challenges,Risks &
Rewards
 Challenges Of Being An Entrepreneur
Cash Flow Management-

An entrepreneur should have financial stability to start their business

and proper budgeting and planning is required.
ORIGINAL Idea-
You should have an idea,which is not in the market so you can stand out.As if
there is already a big brand doing the same thing there is no point in doing it too.

Accountability-
if something goes wrong the whole blame is on you, so you have to take
decisions considering everything ,pros cons etc.You will be held accountable.
Self Doubt-
Strating a business on your own could be scary and you might
doubt your idea.Specially in the beginning,it’s easy to get
discouraged.
 Risks Of Being An Entrepreneur
Market Risk
Many factors can affect the market for a product or service. The ups and downs of the
economy and new market trends pose a risk to new businesses, and a certain product
might be popular one year but not the next.

Reputational Risk

when a new business is launched and customers have preconceived

expectations. If a new company disappoints consumers in the initial stages, it
may never gain traction.

Competetive Risk

An entrepreneur should always be aware of its competitors. If there

are no competitors at all, this could indicate that there is no demand
for a product.If there are larger competitors the company could
struggle to survive.
 Rewards Of Being An Entrepreneur
Work-life autonomy

When you can control your workload, your job satisfaction automatically
increases, keeping you more engaged in the business' day-to-day operations.
Basically you are your own boss.

Company Control

This is your business, so you get to make the key decisions, from who to hire
and what clients to take to how to price your services (or goods,) what
partnerships to pursue, and what your quarterly and yearly goals should be.

Constant growth and development

Starting a company forces you to constantly improve your
skillset, from marketing to closing deals to creating Excel
reports
 A Success Story…
Uday Kotak-

Age: 62
Net Worth: $14.8 Billion (as of 29 April 2021)

Uday Suresh Kotak was born on 15 March 1959 is an

Indian banker.
He is the executive vice chairman and managing
director of well-know bank Kotak Mahindra Bank.
Taking his family's trading business, Back in 1985 Uday
Kotak started a finance firm and later went on convert
it to a bank in year 2003.
His Kotak Mahindra Bank is now in India's top 4 banks
in the private sector.
Thankyou!