Consider these: 1. Too many entrepreneurs fail - you just don't hear about them. 2. Main reason of failure is - lack of flexibility - they get attached to their idea product - and lose sight of reality. 3. Finance is needed but is not the key to succeed in most small businesses. 4. Hard Work, Guts, Common Sense are needed more than Great Idea, Skill. 5. Keep generating some revenue, however small. 6. Work with dignity - people will cheat you, insult you - its all part of life of Common Man in India. 7. Keep small amount of money intact for - bad times - like health or emergencies. It will keep you sane. 8. If it does not work, change your line of business or quit - no ego.
Not everyone will succeed. But one who does not try - will DEFINITELY not succeed.
Without entrepreneurship there will be no creativity, no employment, no taxes, no innovations etc. A person who does business however small it is wiser than a employee. All all large business had a humble beginning.Employees may enjoy all benefits, but in the end they become lethargic during their retirement time.
Re: .
by sivanantham on Apr 17, 2013 07:46 AM
Please don't blame only education system. Because it is implemented by us(Indian people). We have to blame ourselves first. In comparison to Americans and Europeans, we(most of us but NOT ALL) are lacking self-confidence, guts and honesty(to become employers) which are the reason for our failure. We have number of people like Tatas, Birlas etc., However, we have to produce many more Tatas and Birlas. So just blaming education system every time never improve anything.
Re: .
by subra on Nov 10, 2014 03:26 PM
as employer you become the employee to everybodyin the organisation,but salary will be last if available Iworked without salary for 7 yearsfrom peon to president's job when i became an enterprenuer cash is always a crunch though your balance sheetwill show lots of money
Re: Re: .
by Sumit Kudesia on Nov 10, 2014 04:00 PM
agree with sivanantham more, it is the student himself who succumbs the pressure of the educational system and that is because of confidence issues and reluctance to step out in the real world is due to insecurity
"DON'T turn entrepreneur just so you can be boss"?!
What idiot would do that?
Become an entrepreneur only if you have the following:
1. Idea for an unique product or service or market position. 2. Thorough understanding of how you can convert the idea into a tangible product or service. 3. Financially solid Business plan which satisfactorily answers most questions from your investors. 4. Sound business knowledge or know someone with this knowledge who you can trust. 5. Ability to work long hours (without vacations) and with complete determination. 6. Have the ability to act in financially restrained manner in the first few months or years of introducing the product or service. 7. Knowledge or ability of when to get out either by selling the enterprise or cutting you losses and abandoning it!
This list is not exhaustive and there can be more factors depending on the nature of your enterprise.
If you find the above factors overwhelming, you are better off being bossed around than becoming an entrepreneur and ruining your financial future!
Re: DON'T turn entrepreneur just so you can be boss!
by subra on Nov 10, 2014 07:02 PM
I had none of the above& I was told my line of chemical business is not profittable and yet I am successful you need guts,honesty,sincerity to deliver what you promise-nothing unique,plan,finance are required
