Starting or running your own business is a very big task,running your own business is also challenging ,interesting ,rewarding, exiting and fulfilling indeed its is also frustrating ,exhausting, frightening and tricky. An entrepreneur is who organizes and manage a business taking risk for the sake of profits with skills to operate a business Entrepreneur is a person who willing to take risk with his money to make money. The skills need for the 21th century entrepreneur. He should be a self -starter, willing to work hard, he should have a ability to handle uncertainty. Having self -discipline .All and above the risk tolerance it’s very important. Entrepreneur is prepared for fresh approaches, come up with crazy ideas that may just work. The competencies on which the 21th century Entrepreneur have to focus. Entrepreneur has to understand that the risk taking means is to try something new. For entrepreneur networking is the key business activity from which you can provide information, collaboration, expertise and sales .entrepreneur have a strategic thinking in a sense the value of planning process and to recognize the opportunities. Entrepreneur builds trust and relationships with the customers and also generates high level of customer service and come up with customer expectation. The biggest challenge for an entrepreneur is the current global economy.

“Entrepreneurs who have tried and failed are part of the risk taking economy,

But it is not necessary to accept the current failure rate as normal”

– John Baldwin

The entrepreneur should be an business minded and he should have a good understanding of how to run an business, then entrepreneur should have a positive attitude and he should be a self starter being an entrepreneur you have to make a big decision regarding advertising, what is your product and who are they best suited In this assignment its shows the skills and competencies for 21th century entrepreneur .In this assignment successful I had an interview with MR Ben who own a company know a I AM SOLD the question ask him about the difficulties and pressure in running own business and also the skills should have for new entrepreneur. Mr BEN company started in year 2009 .it is successfully running then .the company I AM SOLD is basically a real estate business .this business was started by Mr. Ben now he have four shareholders for his company. By seeing the success of the company we can that the company will have a great future

Critical evaluation

To get business idea

There is lot of business ideas around us. Business ideas are mostly come after analysing the market and customer needs if your want to open a new business and you want to get a idea for that you have to examine your own skills first to open a business you have to focus on area on which you are good. You have to be ready for business opportunities you have to observe the market closely read the business news daily, to get a new idea for business you can ask the peoples what they want.

Business Plan

For starting a new business it is necessary we should have a business plan. Business planning play a vital for starting a new business or growing your business, there are many types templates and variations of an business plan is exits,you have to choose the right one for your purpose ,having an business knowledge is a separate issues .you have to create a well executed business plan to get succeed in your business .you should have good business plan so that investors are willing to invest in your business.

Self-Motivation