I’ll define micro-entrepreneurship as a one-person company that has a scalable business. That means no professional services; a one-person services company is a freelancer. They are Entrepreneurs. Micro entrepreneurs are the owners of small businesses that have fewer than five employees. Examples of micro entrepreneurs are owners of bakeries, beauty parlours, child care facilities, repair shops, arts and crafts shops, painting businesses, contracting businesses, family-owned shops, auto body shops, small-scale restaurants, and small-inventory trading businesses… Ingrdients of Micro- Entrepreneurship :
As with every thing else in the world, first there were "elite entrepreneurs" who changed the world (literally), and that list goes on endlessly. From early innovators like Thomas Edison (created General Electric) or Graham Bell (created AT&T), to modern day Vinod Khosla (creator of Sun Micro), Dhirubhai Ambani (creator of Reliance Industries), and the rest. Most of these entrepreneurs and the hundreds of thousand of others, who have adopted entrepreneurship, as their career, either by choice or circumstances, have shared few things in common. They have in many ways combined 7 Key elements to create value for themselves and the society 1) An unstoppable power to dream the dreams 2) Taking advantage of some major market, technology or industry shifts 3) Ability to rally people behind them to pursue their dreams 4) A foolish willingness to fail, giving them power to take risks. 5) Access to capital to allow for them to succeed. 6)Access to entrepreneurial mentors and coaches to help them navigate the journey 7) Last but not least, ability to work hard and commit their present and future to the cause.
Factors which make Micro- Entrepreneurship successful.
Capacity and willingness to undertake conception, organization, and management of a productive venture with all...