Process of becoming an entrepreneur (continued)
Till now I have written about the basic meaning of Entrepreneurship, its stages,its characteristic and its traits. Now all these things can be better understood and can eas...See more
Vision: Without having a vision to make mark on mobile industry Mr. Dhirubhai Ambani wouldn’t have made that big.
Knowledge: Without the knowledge of computers Mr. Narayan Murthy could not have made it big.
Desire to succeed: Without desire to succeed Mr. Mukesh Ambani would not have ventured into Biotech, Retail.
Need of Independence: Without a desire for Independence Mr. Sabeer Bhatia would not have quit his job to start his own enterprise & create Hotmail.com.
Value Addition: Without providing the facility of Lifetime Free Roaming “Tata Indicom” would not have been able to create space for itself in already saturated market.
Optimism: Without being an optimist Mr. Narayan Murthy (who took loan from his wife) would not have created Infosys.
So, all these examples show that if you are creative and have the passion and guts to start your own enterprise then you are bound to succeed. You just need to remove the mind blockers like inertia, Personal doubts and Family & Friends. Yes it is true that initially you will face many problems and it may be also possible that you fail in your first attempt. But you must keep patience and continue your sincere efforts. Surely you will be successful.
All the five articles on Entrepreneurship for engineers are to provide motivation, confidence, skills and tools which will inspire and enable young people & engineers to start their working lives and achieve economic and social regeneration through enterprise.
Added: 1 year ago
KARZ- The Enterpreneur's Dilemma
Available below is the Harvard Business Review(HBR) case solution for MBA students. The case study answers like What services provided by Tmall were considered most critical to Karz? Was Tmall’s support sufficient?, How would you compare the services provided by different platforms?, From Karz’s point of view what was the best option?, etc.
There is a Lot to Learn from Young Entrepreneurs.
There is a lot to learn from young entrepreneurs We all have come across the names of Vijay Shekhar Sharma (Paytm Founder), Binny and Sachin Bansal (founders of Flipkart), Bhavish Aggarwal (Ola cabs founder). They all are perfect examples of young entrepreneurs who have acted as agents of change in the modern society. They all possess certain traits that separate them from the crowd. Traditional businesses are evolving and the young entrepreneurs are the inspiration. The world has never witnessed such a widespread influence of young entrepreneurs and these are some of the successful traits of the young entrepreneurs to be adopted. Charismatic Young entrepreneurs have the charisma required to build a friendly and healthy environment in the organization. They make sure that all the co-workers can reach them and in turn, no communication gaps exist. A good bonding motivates employees and yields good returns. Craves Learning Ambition to learn and implement - is the most outstanding trait they possess. Youths are curious learners and they like to stay updated about new inventions and techs. Moreover, they know how to make the best use of networking. Passionate Youngsters are filled with enthusiasm to face new challenges and grab every opportunity that comes their way. They are always exploring new possibilities & making their way out of obstacles. Mindset The different outlook and mindset of young entrepreneurs has made them the choice of every thriving firm in the country. They possess a positive and fresh mindset – they are ready to explore and grab new opportunities and thus, help to bring changes in the conventional ways of dealing with business problems. Innovation Youths are quite innovative and capable of providing useful products and ideas to solve the problems of the masses. Who knows the better use of latest technologies than the modern youth? When it comes to devise new stuffs and make innovative use of technologies, they always outshine the rest. Tackling Problems Analyzing different aspects of a problem and coming up with the best possible solutions is the quality that distinguishes them. They are persistent and do not give up until a problem is fully solved. They see problems as ‘challenges’ and do not hesitate to go out of their comfort zone to solve them. Highly adaptable They are quite flexible and adapt to the situations as per the firms interest even if that means more work load or out of the job profile. Young entrepreneurs often go an extra mile and their results speak for them. Risk Taking Youths are known to take calculative risks for positive growth of the business. The biggest risk is not to take any risk and the better knowledge of ROI gives the youngsters an edge.