Essay: Start Up
Write an essay on start-ups.
Essay: Start Up
Entrepreneurship has been a magnificent and encouraging career option these days. It has great scops and many openings, as there are risks, but what in this world comes without a risk? One should make sure that he/she takes risks that do not get them into a debt cycle. Entrepreneurship is a field that requires a lot of hard work and dedication, along with sympathy to work for the betterment of society.
The idea of the startup is the key to a successful entrepreneur, but to do a startup, a person should move forward systematically and take care of all the happenings along with following the required effectuation principle. The five famous effectuation principles are the backbone of any start-up. They are:
1) LEMONADE PRINCIPLE: This states and shows the way of how to turn the best out of the waste and use our drawbacks as our strength.
2) PILOT IN PLANE PRINCIPLE: The requirement of the market changes every single day; an entrepreneur should be ready and trained to explore through the fields of requirement.
3) BIRD IN HAND PRINCIPLE: One should start with whatever they already possess and not look towards heavy investments in the very beginning.
4) AFFORDABLE LOSS PRINCIPLE: One should invest something staying in limit and not exceeding it so that in case some mishap occurs.
5) CRAZY QUILT: This principle talks about the art of collaborating and establishing jointly in the places of requirement.
– Written by Anushree Ray
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