Starting Up and Soaring High: Lessons in Entrepreneurship | Subhas Sapkota | TEDxTechspire College

Business Strategy & Entrepreneurship - The initial step in business involves identifying a clear vision and purpose to solve a specific problem [1] - Businesses should focus on providing additional value through pricing, services, or after-sales support to differentiate themselves [1] - Risk-taking is essential for entrepreneurs, but it must be calculated and not exceed one's financial capacity [1] - Continuous learning, whether through formal education or practical experience, is crucial for adapting to market changes and business challenges [1] - Building a strong network and team is vital for accessing resources, including capital and talent, necessary for business success [1] - A well-defined execution strategy is essential, even with a good idea, resources, and team, to avoid business failure [1] - Copying successful business models from developed countries and adapting them to the local context can be a viable strategy [1] - Financial literacy is crucial for entrepreneurs to understand cash flow, profitability, and balance sheets [1][2] Market Dynamics & Innovation - Market trends significantly impact businesses, requiring resilience and adaptability to navigate market fluctuations [1] - Innovation is essential for business success, involving continuous improvement and offering new products or services [2]