Entrepreneurship - Challenging the world

Posted in Marketing & Strategy Articles, Total Reads: 2930 , Published on 20 September 2011
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Ever since a child is born, he goes through the developmental process which is on a similar pattern with the society. Children go to school, learn new skills, complete their higher studies and take up a respectable, well-paid job to make their career. They take up employment in companies, look to avenues with better salaries and are motivated to further pursue their jobs when promotions take place. However, there are a few people who take an untried path and start their own venture, and this way they challenge the tried and tested paths by becoming entrepreneurs.

 

Entrepreneurship

Entrepreneurship is a process where people look for opportunities and need gaps in the industry and market, come up with ideas of giving benefit to the people and start their own business. Starting your venture in an existing industry or area requires creativity and innovation, while if a new concept itself is introduced in the market; it automatically needs to be innovative.

 

Entrepreneurship is a high risk opportunity for people as they risk the normal comparatively career path in terms of a job or salary. Financially too, entrepreneurs face the challenge of self investment and managing their funds in the best possible productive and effective way.

 

The process of entrepreneurship is a simple one and a person has to face the people surrounding him. People initially don't lend their support or support the idea. This is where people need to have certain 'IDIOTS' like qualities i.e. they need to have an

 

I-Idea

D-Determination

I-Investment

O-Opportunity

T-Time & patience

S-Self belief

 

Ideas form the backbone of any startup. Every person must try to build upon anything unique or anything creative, and try to build around the possibilities of making that idea a reality. Opportunity and idea combined together form the framework for an entrepreneur.

 

People willing to become entrepreneurs must have a thorough understanding of the industry environment in which they want to step in. They must study, analyze all pros and cons, and apart from studying the benefits, they must try to evaluate all possible drawbacks and risks.

 

Challenges are a part and parcel of a start up. People should work with full determination and self confidence must pursue their desired objectives. They should set themselves realistic targets, constantly revise them, give their maximum, hope for the best and be prepared for the worse.

 

Over and above everything, entrepreneurs need to give their idea time to grow. Entrepreneurs need to show tremendous patience and must ensure they have an effective time management to prioritize all their work.

 

A new beginning and an untried path always gives unexpected challenges, difficult hurdles and problems which seem an uphill task. Entrepreneurs are always looked down upon initially when they are simply experimenting with their idea and have to self-assess their goals and keep on moving. Thus the process of entrepreneurship is not simply converting an idea into a business, but in the larger picture it is challenging the world and its norms.

 


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