Successful entrepreneurs share a pattern of experience:
1. They have acquired 10 or more years of substantial experience and established a track record in the industry.
2.They have acquired intimate knowledge of the customer, distribution channels, and market through direct experience.
3. They made money for their employer before doing it for themselves.
Through a thoughtful, introspective review of your own skills, abilities, and sources of energy, it is possible to evaluate one’s attraction to entrepreneurship. Successful entrepreneurs are likely to be older and to have at least 8 to 10 years of experience. They have a track record impressive enough to give investors’ confidence. They usually have nurtured relevant business contacts and networks. The first 10 or so years after leaving school it is crucial to select work or a career to prepare for an entrepreneurial career. Having relevant experience and skills can dramatically improve the odds for success. The concept of an apprentice is useful—entrepreneurs learn by doing. An apprenticeship can be an integral part of shaping an entrepreneurial career. Through this, an entrepreneur can shape a strategy and action
1. Explain the meaning of the apprenticeship concept. Why it is important?