Elements related to entrepreneurship include the following:
The first element: capital.
It is natural to seek profit from the foundation. It is difficult for a wise woman to make a meal without rice. To start a business, you must have capital. Capital is the necessary foundation for a successful start-up and is also the first factor for a successful start-up. It cannot be said that money can make the world go round, but it is true that a penny cannot kill a hero. The so-called capital-free operation means that you just don’t have money or don’t want to contribute money. It doesn’t mean that you can start a business successfully without money. You can borrow money and use all methods to raise funds. Therefore, no matter who provides the entrepreneurial capital, there must be funds.
The second element: resources.
Funds are also an important resource, but in addition to funds, you also need some mobilizable resources: tangible and intangible assets, which are various resources that do not have ownership but can be used, such as houses and equipment , processes, patents, formulas, technical know-how, registered trademarks, brands, copyrights, etc., as well as some other unique business resources.
The third element: connections.
The relationship between people can be said to be complicated, but it can also be said to be simple. It is a kind of interpersonal relationship with trust and exchange. To put it bluntly, it is an exchange relationship of mutual utilization, but a value exchange based on a trust relationship, rather than an equivalent exchange or instant exchange relationship of barter. Just like we pay taxes as taxpayers, the government exercises certain disposal rights on behalf of the country and provides various public services needed by society. We also have an exchange relationship with the government.
The fourth element: ideas.
Everyone has ideas, but not everyone has entrepreneurial ideas. The ideas here include business and management methods for entrepreneurship. Just an idea and creativity cannot make a business successful. All roads lead to Rome. Ideas are not only a path and framework for entrepreneurship, but also include the value direction and strategic goals of entrepreneurship, as well as methods and methods on how to achieve the goals.
It can be said that you can start a business if you have the four major elements of entrepreneurship, but the degree of success depends on your choice. The so-called choice is included in the idea of ??starting a business, and the purpose is to maximize the interests of the entrepreneur. It can be said that the reason why many people can succeed in starting a business but make little profit is mainly due to choice. Choice is to make use of strengths and avoid weaknesses, to do something and not to do something. Therefore, entrepreneurial ideas cannot be explained in a simple sentence, but must be analyzed based on one's own conditions.