My Entrepreneurship Theories- Those teenage days, I always use to think on how to become a successful entrepreneur and it always confused my mind. I was in hurry and always tried to find the shortcuts. I set my age target to 30 to start my own enterprise and 23 to become a manager so that I can be well place till 30 to start my journey of entrepreneurship. Very early and childish, right! But I had a target, thankfully.
My Entrepreneurship Theories
I started my journey of entrepreneurship at the age of 26. Till that age, I have made much online research on success stories of Indian entrepreneurs in India and abroad. Many inspired me but I stick to follow Dhirubhai Ambani, Azim Premji and Kishor Biyani. My last job was with Rajeev Bhatia’s office as a Business Analyst and whatever I learned in theories have seen practical witnessed in Rajeev Bhatia. Here I trying to explain what I learned from all theories and from my practical knowledge.
How to become a successful entrepreneur? What are the traits that bring success? Is there a formula? Dozens of articles have been written on this, but there is no one-size fit all theory. However, when we peep into the lives of great business leaders, we find them sharing some common characteristics. I would like to discuss here a few such qualities and urge you to check whether you possess them.
First of all, I think successful entrepreneurs don’t view risk the same way ordinary people do. Risk-taking is an important aspect of entrepreneurial life, and a successful entrepreneur is he who has a strong faith in himself and in his ideas. There will always be detractors, but they are unafraid to fail, to take risks, and aim at tasks that are not easy to accomplish. Nonetheless, while opting for risk, they don’t play like gamblers. Awareness and faith in own ability are key to a successful entrepreneur’s unique perspective on risk.
Entrepreneurship demands hard work. Success comes to only those who dare as well as work hard. Ask any successful entrepreneur and they will tell you how much they have to work to start their business or to stay in business, and it’s hard work by which they attract luck to themselves. Besides, they act smart. They are passionate with what they do, but know their limitations and stick to their core competencies. They can set clear goals, and plan and organize. Patience and perseverance bring success to their hard work.
Thirdly, I believe that leadership quality is a must for success. An entrepreneur cannot make his company succeed by himself. He has to work through others, and for this, he must be able to identify the right people, communicate his vision, instil passion, and generate enthusiasm. A leader needs to earn respect for which he must nourish a sense of ethics and integrity inside himself. He must set an example to employees, demonstrate positive moral as well as work qualities, and accept responsibility for actions.
And finally, I would like to mention about learning. Personally, I believe that every entrepreneur should seek to become better. Of course, to be a successful entrepreneur, you don’t necessarily need to have a big business degree. In fact, you cannot learn a lot of things in college: how to build a business, make money, how not to be betrayed, how to fail and bounce back, and so on. But it is the real world where you cannot afford to stop learning. It’s not an option.
Of course, the list cannot end here, and there are many other qualities such as an ability to adapt to changes, business and industry knowledge, organization and management capabilities, marketing skill, innovative mindset, competitive spirit that are some important aspects of entrepreneurial life. But I always like to stick with four of the above principles and let other common qualities follow me.
In conclusion I take the risk and see things in another way, I work only towards my objectives and work hard, I believe in me and act as a leader and finally, I keep learning and I am passionate for learning new ideas.
My Entrepreneurship : healthcare nt sickcare