Entrepreneurship needs self discipline, courage and emotion intelligence. Starting something on one’s own is a dream for many but only a few attempt to turn it into a reality. An enquiry into what it takes to become an entrepreneur:
Entrepreneurship seems to be the flavor of the season as many people are making the downturn an opportunity to start their own ventures. According to experts a downturn is a positive time to become an entrepreneur due to several factors. Starting a firm during an economic crisis makes the entrepreneur seriously evaluate his/her ideas, to be cautious about expenditures and to have a close watch on the cash flow, budgets and balance sheets. Also resources and funding for start ups are easily available and there are many non profit organizations and business incubators for promoting entrepreneurship.
But what makes a person think about starting a firm of his/her own? A serial entrepreneur and the chairperson and managing director of Emploi Globale Cosnulting Pvt Ltd explains, Emploi Globale is my third start up and what has motivated me to my third start up is my belief in my concept of building India’s first global executive search firm. The ambition to build a world class, globally scaled highly differentiated search firm drives me as an entrepreneur.
The need for self improvement and learning ambition to build an India based product company and also the longing to contribute something to the society made, CEO Ziva Software Pvt Ltd turn to entrepreneurship.
A great idea, strong passion towards building up a businesses and adequate financial support are the driving factors behind any entrepreneurial venture. But besides that there are several other things that an entrepreneur must concentrate on. According to CEO, becoming an entrepreneur is not a difficult task but one must be ready to digest failures as the mortality arte in entrepreneurship is extremely high. Also, entrepreneurship needs lot of self discipline courage, emotional intelligence, vision hard work modesty to learn from others and relentless passion which are deceivingly easy to say but extremely difficult to practice. Entrepreneurs have to be extremely comfortable in working without a known brand or a corporate backing. Commitment to his/her enterprise, tenacity, ability to build strong teams and ability to take tough decisions is also important. For an entrepreneur being successful is also directly related to how fast he/she can adapt to and bring about change. An entrepreneur is faced with new business models, revenue models, and changes in market dynamics, price constructs and other dynamic changes everyday.
Today as the entrepreneurial ecosystem in the country is growing tremendously there are plenty of opportunities coming up for aspirants who are willing to start his / her own forms. But experts suggest that one must do a self evaluation and consider all the pros and cons well before plunging into it and make sure look into the following aspects:
Passion: Must have the strong zeal to make his / her idea a reality and must be able to overcome all the challenges.
Self motivation: Must have personal determination and drive to seek all means to make their ideas a reality. Also must be ready to afce failures and learn from mistakes. Ability to take risk: Must be ready to face any uncertainty in business and must be ready to take the responsibility.
Setting up your own business is a great feeling as it lets you take your own decisions. There is no blame game and the cards are clear. Even if you have to face a setback, you are not answerable to anyone. When it comes to the service sector, you have to cater to other’s requirements, and in the bargain one often ends up compromising his/her own ideas. Here you get the freedom and space you need to put in your best ability. That leaves you satisfied.