Entrepreneurship-How to save it from Drowning!

Entrepreneurs are the ones who have the ability to bring about innovative changes in the field of business. Entrepreneurs are one of the reasons for growth of a country. Their ideas, if met with the right potential, can play a vital role in a nation’s economy.

How Entrepreneurs Work?

Idea into Action

Ever since people believed in their ideas and started up their own businesses in a small scale, the spirit of entrepreneurship has spread worldwide like a wildfire. Graduates do not just rely on other national or multinational companies, they form with minds who think alike and initiate their own start-ups.

Entrepreneurship: The Light

People have started to perceive entrepreneurship as a tool that sheds light on other perspectives. Creativity and innovations are highly appreciated and people are motivated because of entrepreneurship.

Entrepreneur’s role

Unemployment and Poverty

Unemployment and poverty will drastically come down if entrepreneurship is encouraged properly. The only criteria would be creativity and unending passion towards the notion/objective. Unemployment is a major factor the crumbles the soul of a nation. Unfortunately, unemployment leads to poverty. Entrepreneurship might have the characteristics to stop the never ending cycle, which not just stops with poverty.

Society: Entrepreneur’s role

Entrepreneurship creates job and job opportunities. They also look out for the society and its well-being. There are n number of startups that work for the welfare of the society. They spread awareness, clean-up drive, put up workshops with an objective of towards social betterment.

What does an Entrepreneur require?

Origin stories of Microsoft, Facebook and Apple will never get old. Many entrepreneurs have learnt from those stories that what requires for a great business idea is the passion and trust in that idea. On the other hand, women will have better opportunities in business. It can be either a small business or a large business. Either way, it proves that they can be individual and do not require a male dominance. Patriarchy will be subdued, paving a way towards equality of genders.

What if an Entrepreneur drowns with his startup?

But, not every startup becomes a success. Entrepreneurs should look out for these in order to make their business plan to be in the sands of time.

• The important thing they have to look out for is the market. There are many cases where the idea is really great but the market does not require that idea in demand. In that case, the idea fails to meet what the customers want.
• Management is the key. Resources should be properly managed. It is important to build a small, core team. Believe it or not, they will be the foundation of the business idea. Once the business starts to grow, the team will grow with the idea but the key is how it is managed. Look out how well your teams are managed in your company.
• Employees should be respected. They are the building blocks of any company. If they are not dealt properly, it does not matter how huge the company is but will fall down to the ground. It is important for the management to create and establish the bond between the employer and employee. Give them ample opportunity to experiment and brainstorm. Learn how to use the resources available. More importantly, do not think that they work for money.

Take a note of these things, and if you think you need to be educated. Prepare for entrance exams like MAT and join in any of the top MBA colleges in the nation.