Simple things.. Are they Really Simple ?

Thursday, November 03, 2005

Entreprenuership - The Road Less Travelled

'Entrepreneurship' - a word to watch in recent times. It is good that people started talking about Entrepreneurship in all forums. Even though it is a 'All-Time' relevant topic in country like India, In today's context it has become a need that is urgent.

People are now so very skeptical about doing something on their own. The main reason for this kind of attitude is, people hesitate to take Risk. Without risk there is no Entrepreneurship. Earlier there is no way to subsidise risk, but now we have ways.

Venture Capitalists(VCs) are now actively looking for a good business idea/model and if you have one, your business is funded. So problem is not in rasing capital, but in the IDEA. Everyone have idea and how many ideas are worthy enough to pursue.

“The idea is like an Elbow, everybody having it” - Prof. Bala Balachandran

Opening a 5th grocery shop in an area is not at all an IDEA. IDEA should be innovative so the business model. Business model is something like how are you going to offer the product. For example how are you going to reach your customer differently from your competitors through a grocery store. Here is where the challenge is.

“There is one thing stronger than all the armies in the world, and that is an IDEA whose time has come” - Victor Hugo’s adage

But nothing is impossible. Things are there at our disposal. I am currently reading a book called 'Leading the Revolution' - by Gary Hamel - a Strategy and Management Guru. The book is a must in every one's library who are in business or people love to read on innovation. He has come out with a framework on how to develop a business concept. So ,one has to acquire knowledge on regular basis in fast changing business environment.

The new age companies keep the employees happy by offering a huge salary and other benefits not only to retain them but also to get away the idea of entrepreneurship from them. But this things has to change. Imagine a person who works for a big company and when he comes out to start something on his own, he can built very well on the knowledge he gained from the company.

In the lighter side, I am very muich attracted towards Entrepreneurship for one reason that is 'FREEDOM'. One would slog all 24 hrs for 7 days a week, but if we want to take a break, he can, unlike checking the number of days leave he has to his credit.

Yes, entrepreneurs have to think day and night about their business with all stress, tension etc., but once crossed the crucial initial stage, he would reap the benefit. There happens value and wealth creation.

Also the attitude, attitude of the parents, students and the society. How many of our parents told us during our student age to start a business after the college education. Everyone wants us to settle in a good company. Students should come out of this mental block and parent should help them. Society should respond postively on a failed venture. New enterprise selection must happen in the college level. Things are also changing now - IIM B has incubators.

It is very promising that some of the B-school graduates shown their back to the placements and now on the efforts to start a venture.

I was told that during the British period when the education system was crafted, the instruction from the english people to the scholars who designed the system was to see that the students get clerical attitude.

One prediction says that in coming years, big companies will start employ only very few people. So the people come out the company would be forced to do something on their own. In this information age each and every one has ideas and all the ideas cant be implemented in the company they work, so at one stage the 'Entrepreneurship' thinking do comes there.

So in coming years it could become order of the day. So people just start thinking on this line. Even entrepreneurship spirit helps in innovation and risk taking in your present job.

Become an ENTREPRENEUR - Create Value , Create Wealth.


  • At 3:34 AM, Blogger Shawn T Lippert said…

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