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.