How to Become an Entrepreneur?
Left out in the corporate rat race? Do not have it in you to be an organizational conformist? Was your childhood nickname “Maverick”? Constantly feel like a square peg in a round hole? Do not despair. There is hope for you yet. Do the names “Bill Gates,” “Steve Jobs,” and “Dhirubhai Ambani” ring a bell? If yes, then read on.
If writing and signing salary checks is more your style than waiting with bated breath for one, then becoming an entrepreneur should be your objective. How to become an entrepreneur? Entrepreneurship is a form of enlightened gambling.
Skill and tenacity are big factors, but luck plays a big part. However, as long as you can keep picking yourself up when you get knocked down, try different things and keep learning, the odds are in your favor. You just have to dare to chance them.
How to Become an Entrepreneur?
- First, identify a felt need and a gap in the market. Or better, create a new market where none exists, like say the intrepid young lady in Delhi who hires the new stadia built for the Commonwealth Games in 2010 every evening where busy executives get together for a tough game of soccer or basketball under floodlights in Olympic standard stadia before heading home for a well deserved night’s rest.
- Next, create a professional business plan even if it is a small family business that you are contemplating.
- Finally, what matters is the execution of the business plan and the hawk’s eye for the smallest detail if your plans have to survive the daily storms of market realities.
Things to Watch out For
Make sure you have a solid financial fall back option in terms of being able to re-join the labor force in case your business happens to be one of the nine out of every ten new businesses that fails to make it. How to become an entrepreneur?? Does this question often linger in your mind? You should think twice about entrepreneurship as a career option if you hate the idea of your work-related ambitions and aspirations spilling over into your spare time and you struggle to come up with original ideas.
As an entrepreneur, you have to make best friends with rejection and hard knocks because these are two commodities that you are sure to receive in greater quantities than the Dollars/Euros/Rupees in your bank account for the first few years as an entrepreneur.
Remember, there are no short cuts to success. Long years of hard work are needed to translate your entrepreneurial dreams into reality.
A Case in Point
Many years ago, a gas station attendant had the option of either toiling away for peanuts for the rest of his life or dreaming the impossible dream of mastering the entire petrochemical chain by sowing the seeds of a global conglomerate.
That boy named Dhirubhai chose the latter option and worked long and hard in business and in the power corridors of New Delhi to sell a dream of prosperity to many Indian households as shareholders and co-owners of Reliance. Today, his enterprises—now divided among his sons Mukesh and Anil—are among the largest corporations in India and leading Indian-owned and Indian-dominated multinationals with presence across business lines and continents.
Read more at : Be an Intrapreneur – Use Entrepreneurial Skills
Entrepreneurs need to be capable of both having original ideas and seeing them through. It is not only treading the beaten path that is an option open for young professionals. It may be even more remunerative and fulfilling in several ways to become your own boss and fulfill an important felt need in the market.
Becoming an entrepreneur also creates jobs for others in society since it adds value in the economy. So, take the plunge. Remember, the waters of entrepreneurship may feel a bit cold in the beginning but it is sure to be a refreshing experience!