How To Become An Entrepreneur In India: Business is a highly fantasizing word that is commonly known as a way of making money. But it is not as easy as said. Most of us believe that business is only for the people who are prosperous and financially much more stable. Not even a single person from a middle or lower-class family pursues or goes for entrepreneurship due to many factors, the most being loss of sources of income.
Most of them opt for either the medical field or engineering or civil services. Born and brought up in a middle-class family comes with many problems like their parent’s focus on education and getting a job, and if you ask about the money, they will wonder what you are talking about.
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Do you think all successful entrepreneurs were from a wealthy background or were highly educated? The answer to the question is NO. Most of them have their basic educational qualifications. So it doesn’t matter whether you have money or not or are highly educated from a renowned college. The only thing that matters is the ideas and creativity, the perfect plan you have for your startup business.
Starting a startup doesn’t mean that you are not an entrepreneur. No business is small, and success is the thing that matters. You should be determined and energetic towards your goal. There are many examples of successful self-made entrepreneurs who wrote their destinies on pillars of hardship, determination, and many more struggles. Some of them are Ratan Tata, Dhirubhai Ambani p, Samuel Walton, Bill Gates, Steve Jobs, etc. A famous saying: “Business opportunities are like buses, there is always another one coming.” The most important thing is how you grab these opportunities and make full use of same.
An entrepreneur sets up a business and is ready to take financial risks in the hope of profit. The one who manages organizes, and assumes the risk of the startup.
Before starting your career as an entrepreneur, you must know that life after it becomes challenging. It would help if you worked hard all day and night, were intelligent, social, determined, creative, and not fear taking risks, and should be well aware of how to manage relationships.
There are many courses for you to pursue as an entrepreneur, like UG and PG programs. Some of them are listed below:
If you are an undergraduate, you can take admission after 12th in any renowned college providing the courses.
If you want to do a master’s in entrepreneurship, you should have a bachelor’s degree BBA in the field from a recognized college and then appear for the entrance exam for admission in MBA. The entrance exams are CAT, XAT, MAT, CMAT, GMAT.
Think of an idea: An idea is the basis of starting a business. It can be related to education or any of the experiences you had in your life. You should always know how to pursue your ideas. Whenever you look at the most famous and inspiring entrepreneur, you will always see one thing that is common among them- A solid and brilliant idea that is far more different from the ordinary one. You can google the pictures and the motivation behind excellent platforms like Facebook, Apple, Google.
Just developing an idea is not enough; timing is also critical. You should always have a thing clear in your mind on how and when to implement it. If not done at the right time, the idea may be overrated or, in the meantime, could be a great startup by someone else. There is a need to understand the situation and if you think you have a great idea in your head, just start implementing it.
Follow your idea to a startup business: It is very challenging to start a business of your own. Becomes much more hectic if you don’t have a family history of business and are from a middle-class family. You can’t just sit and hold back all the ideas you had. You should be ready to dare and take risks. But it is not at all recommended to start a business without having proper knowledge and ideas on how to develop and implement the pros and cons.
You should have at least studied entrepreneurship or have an idea about it. You can compare a startup with parenting. It requires as much care as a baby and as much safety as a parent. You are both here. You need to fall and then learn how to overcome it. Always aim for the best. Success in one try is not necessary. But every time you fail, you will come up more substantial. Always know what the flaws are and don’t try to hide them. Instead, come up with great ideas to overcome the obstruction in the path of success.
Know your investment and expenses: The most common mistake people make while setting up a startup is that they try to invest everything they have and end up losing. The reason is they all are so focused on infrastructure and Human Resources that if the plan doesn’t go accordingly, they don’t have any backup or revenue to plan something new. You must be very careful on where and how to invest and should always have a Plan B. A true entrepreneur should always know how to control the expenses in the startup, what areas need to be focused on, which might help them in case of any issue or crisis.
Try investing yourself: It is seen that most commonly, the person setting a startup is the pillar of his own company, like a head accountant or coder, or manager. It is good to be a workaholic, but you get so much engaged in the work that you forget to focus on the aspects that need improvement and lead to development. So it’s very necessary to keep trained people under yourself and analyze them and work on new ideas and draw much more profit without engaging yourself too much.
Think differently, think outside the box: If you look around in the field of business, most successful entrepreneurs think differently. They had terrific out-of-the-box ideas, which made the life of the people easier and made their business successful.
Each time you don’t need to have a world-class view, but even if it’s new and straightforward, you should know how to develop it enough for people to grab their attention. You will get solutions to many of your problems if you think differently. Thinking differently helps you survive any condition, be it good or bad.
Do not break any laws, rules, and regulations by the Indian government: Always try to follow all the rules and regulations. Work under their guidelines even if their regulations become an obstruction for your business. Try overcoming it by thinking differently and not violating the laws. This would help you build a great foundation.
It takes years to set up a stable and profitable business. Patience is one of the essential pillars laid in the industry. A successful entrepreneur should be patient enough to stand even in the worst condition. Along with hardship and determination, you should patiently wait for your business to develop. A successful business doesn’t mean high status, a good bank balance, or any educational qualifications. It means zeal, determination, hardship, patience, creativity, and the most important- A perfect ise
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