Monday, May 7, 2007

Entrepreneurship

I am writing this blog keeping in view of Entrepreneurship in India.

Entrepreneurship, a dream word for most of the people.So what it takes to become an Entrepreneur.Simple, an Idea and Implementation.

Just think in a day to how many people you make business.For example, right when you wake up, in order to brush your teeth you need toothpaste.So you are making business to a toothpaste company early in the morning.Was it your intention to make business to a toothpaste company early in the morning?Most probably "NO".You have made that because it was your requirement, a requirement to brush your teeth unless otherwise people cannot tolerate you beacuse of your bad breath.So if you are searching for an Idea, search for a requirement.If your Idea is a requirement to the people,however common or out of box it could be,then your idea sells.

After getting an Idea next thing is the Implementation.This is one of the most toughest thing in Entrereneurship(the most toughest, is getting an Idea).Here there will be a true test of your Passion,Fire and Character to become an Entrepreneur.Many people even after having good Ideas dont implement them.The reasons for that could be Money, but even if they have money they consider it as risk and some people have fear of Failure for not implementing them.The worst of the above reasons is Fear of Failure.Even the MBA graduates from good Management institutes have the same reason i.e Fear of Failure for not implementing Ideas.This is because people always want success,they always want to be noticed by other people.Mind that Entrepreneurship is not an Entrance Exam, if you are thru then you are successful.Its a Journey to find a new route,a new way where other people( along with you) can walk without any problems.
Have you ever said to yourselves that "I Love Losing".Many of you did not and if you cannot then you can never become an Entrepreneur.The primary trait for an Entrepreneur is that he should love losing, he sholud love failures because while implementing an Idea even a small problem makes you think twice whether this Idea clicks or not.So here if you are ready for failures then you will implement the Idea no matter how big those problems could be.

After having a good Idea and perfect implementation, your product is completed.But still you are incomplete as an Entrepreneur without Marketing.You need to know for which People your product is a requirement.You cannot sell a cricket bat to a Dhobiwala for washing clothes.You need to approach the right customer.Anyways, once you are done with Idea and Implementation your Job is almost done as an
entrepreneur and for Marketing, you only need to have extra patience until your product gets noticed by right people.

So after completion of Idea,Implementation and Marketing then comes Success or Failure.This is actually decided by customers but a Successful Entrepreneur is the one who is always ready for Failures.

Finally, I dont know whether IIM(Indian Institutes of Management) makes Entrepreneurs or not but surely IIM(Idea,Implementation,Marketing) does.

8 comments:

vijjigeek said...

great article ra.it shows your good understanding over entrepreneurship.Iam confident that i will definitely see you as a great entrepreneur in the coming few years.Keep posting your random ideas about entrepreneurship from now on.

Here are some good blogs on the same.

http://emergic.org/collections/tech_talk_15_years_as_an_entrepreneur.html

www.mindpetals.com

http://thoughtsprevail.blogspot.com/

http://www.ryanallis.com/blog/

there are few other blogs and documents.i will send them in a mail.

Srinath said...

thanks ra

Mantu said...

Good one... But is Marketing not as important and difficult as the other two? Many companies have failed because of improper marketing... So it's not fair to say that marketing is easy...!!! what do you say??

Srinath said...

Arun I dint say that Marketing is not important i said its not as difficult as Idea and Implementation.
The frustration which you face for getting an idea and the fear n risk which you face for implementing, u don’t find that much frustration n fear for marketing your product. Your product is already completed; the only thing which u needs to do is to approach right people. As you did the product, you will know for which people it’s a requirement.
Think of SPOORTHI (our college event) there the difficult thing was getting funds. As we got the funds we prepared brochures and sent it to every college.
Jus think we need to go to every company and ask for funds and we were not sure whether they would give money to us or not but for Marketing i.e. to send brochures to every college we just need to go to the colleges and distribute.

Unknown said...
This comment has been removed by the author.
Unknown said...

Hey Srinath,
Nice article.. Very well written.. I agree with your views completely..
As Arun put it Marketing is as important and difficult as the two Is (I like ur thought of IIM Idea, Implementation and Management)
Marketing in the case of Spoorthi was easier bcos JNTU had a good name(brand name as they say) in the market.. But for a novice marketing his product will be a herculean task. Thats what I feel..
Nice Article.. waiting for more articles and bright ideas from u.. :)

Naveen Chakravarthi S said...

Nice article srinath...

Ranjith said...

Good one man!