Generally, in any part of the country, an entrepreneur is regarded as a profitable asset of the nation who are inspiring, recognized as well as recruited to the maximum possible level. They habitually re-volute the means in which entities work, and live. Their success, their modernization techniques, and inventiveness can augment the living standards of people. Besides generating capital from the endeavors of entrepreneurship, they also enhance the employment opportunities and the circumstances for a society that is beneficial and prosperous. They are a huge prospect to a nation and their contribution is perpetual.
Don’t worry about being successful but work toward being significant and the success will naturally follow.
The Significance of an Entrepreneur
Entrepreneurship gives rise, not to one, but many of them in the making which is usually initiated by one. Starting the business using her/his monetary resources, requires some time to segment and breakdown the existing workload and develop a team of great brains. As the name of the brand starts gaining attention in the market, she/he will involve in the process of recruiting freshers and some experienced candidates to work in the development of the brand. As the brand becomes a selling point in the market, a satisfaction of monetary investments and the commencement into a wider enterprise takes place. This may invite humongous employment opportunities for individuals who are in look out of an experienced working environment.
Entrepreneurship also plays a very vital role in boosting the economy of a country through its startup in many places and also helps in improving the standard of the country by its widespread contacts. The further rise of the enterprise lies in the entrepreneurial innovation and ventures that tend to offer the products of the highest quality at the lowest prices enabling the people to get the best products, and at the same time save their money. Additionally, entrepreneurship also strengthens and motivates many new start-ups and may also merge itself, if the innovation and idea of the new start-up are worth investing.
Therefore, entrepreneurship turns out to be a great deal breaking investment as it may offer benefits for both the economy of the country as well as the entrepreneur who is involved and also serves as a paramount for the upcoming entrepreneurs. The core importance of entrepreneurship is that it supports in the identification and development of the entrepreneurs’ managerial and marketing capabilities. They study the problem, determine the alternatives, compare the benefits and the costs, and eventually pick the best alternative. This process aids in refining the skills of decision-making and moreover, entrepreneurs use these skills to launch new products and technologies, which eventually replaces the older ones leading to higher performance and competition in the market!
Some Great Entrepreneurs from India…
Hailing from a Sahu Jain family and the current chairperson of India’s largest media group, Bennett, Coleman & Co. Ltd., Indu Jain has a come a long way in her career! Her company also owns the Times of India and other large newspapers. Apart from being a CEO, she is known by many different identities such as that of a spiritualist, humanist, entrepreneur, an enthusiast of culture and the arts, an educationalist but her most protruding role has been that of Chairman.
She is presently the CEO of India’s largest private bank ICICI Bank. ICICI Bank won the “Best Retail Bank in India” award in 2001, 2003, 2004 and 2005 and “Excellence in Retail Banking Award” in 2002 under the leadership of Kochhar; both awards were given by The Asian Banker. She was also personally awarded “Retail Banker of the Year 2004 (Asia-Pacific region)” by the Asian Banker, “Business Woman of the Year 2005” by The Economic Times and “Rising Star Award” for Global Awards 2006 by Retail Banker International.
The woman who transformed the creativity phase of Indian television – You Love her or hate her, you just cannot ignore Balaji serials and Ekta Kapoor is the woman who single-handedly founded and made Balaji Telefilms the household name it is today! She bagged the Hall of Fame award at the 6th Indian Telly Awards during 2006 for her engrossment to the Indian television industry. She is regarded as the fiercely protective and highly professional women when it comes to her company and brand, Ekta is also very professional and has strong business acumen.
It’s important to realize that a brand is much more than a logo and slogan. A brand is who your company is: how you function and make decisions.
Characteristics of a Successful Entrepreneur
- The art of overcoming Hardships – Entrepreneurs don’t exhibit the attitude of quitting at difficult situations during the first, second or even hundredth obstacles. For them, failure is not stopping, so they continue to work toward success and never become emotionally unstable, even when things go wrong.
- Always working towards progress- Entrepreneurs don’t expect and assume something from nothing and they don’t expect things to happen by themselves. Instead, they get into the field and start working, they are doers! They overcome challenges and avoid procrastination.
- Involved in the betterment of the future– Entrepreneurs crave in offering out of the box products to their customers and aren’t persuaded by others who might question or judge their ideas.
- Ingenious problem solvers – Lack of monetary backup, less experience in the field and limited resources are common, but entrepreneurs are strong in figuring out how to utilize what they have in order to reach their objectives and goals. They never let problems or challenges overtake them, and instead find ways to attain success despite hardships.
- Self-confidence – This doesn’t mean that entrepreneurs never have self-doubt, but they’re able to overpower it and believe that they can reach their goal.
Shaping Yourself into an Entrepreneur
Having a clear vision of what exactly you want makes an entrepreneur. Steve Jobs, Bill Gates, and Mark Zuckerberg haven’t completed their education when they started Apple, Microsoft, and Facebook respectively. Ree Drummond, the innovator of starting a blog, which has since then turned into a business, a TV show and are also available as books.
But being massive or prominent doesn’t make someone a successful entrepreneur. The world is widespread with entrepreneurs who had an idea and turned it into a flourishing, money-making business. There are Home-makers who launch gadgets or write a lifestyle blog, Teenagers who are seen in their YouTube videos, bring a new definition for entrepreneurship. There are even experienced professionals who have turned their experiences into coaching or consulting business. Shaping yourself into an entrepreneur isn’t a difficult task if there is passion and hard work involved!
The benefits of entrepreneurship aren’t underestimating and the people must switch from the mentality of categorizing small start-ups as a small separate entity. Entrepreneurship is one of the core foundations for great businesses, and for the economy as a whole. As explained earlier, the governments should support entrepreneurship for the developing economy to be a developed one!
Great things never come from comfort zones.