I have a dilemma on turning entrepreneur. Being an entrepreneur is the universal dream for Indians. In 2018, 63.7 % of Indians considered entrepreneurship to be a desirable option. The key to being an entrepreneur is to have an idea that fulfills a need or addresses a gap in the market. many people venture into entrepreneurship with a me- too idea and soon repent the decision. If you are an entrepreneur, then hope cannot be a strategy.
As an entrepreneur, I argue that you need a good founding team based on trust. The team must have the freedom and the inclination to challenge you, the founder. The worst thing for an entrepreneur is to have yes men and women around you. The quality of your product or service or business model will only improve if the core team challenges itself to be better. Entrepreneurs are very important for India. India has close to 64 million MSMEs employing about 110 million people. MSMEs account for nearly 25 % of the total workforce in India. India needs more entrepreneurs and technology access is helping fuel entrepreneurship. Apart from good people, you need the right technology and the right business model to succeed.
Entrepreneurs must have a frugal cost mindset. When people are used to large corporate budgets and large company trappings, they tend to be a bit profligate. Being frugal, being high on multitasking is key to being an effective entrepreneur. You must have the ability to look at the results of your strategy regularly and change it if it’s not working. In Silicon Valley, start-ups rethink their strategy every Saturday. Be brave to change just as you were brave to take the entrepreneurship plunge.
この記事は Entrepreneur magazine の March 2021 版に掲載されています。
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この記事は Entrepreneur magazine の March 2021 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
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