Entrepreneurship

The process of developing a business idea and then running and managing it to earn profits while putting a lot of things to risk is called Entrepreneurship. Being launched as a small enterprise like a start up, it depicts the willingness of the owner to run a business related to products or services. 

People possessing relevant knowledge and skills and having resources to invest in an enterprise usually are capable of setting up a business venture and explore their prospects as an Entrepreneur. 

An emerging Entrepreneur must understand the market trends and should be able to identify the demands of the masses. The well qualified business professionals should carry out research around what is going to be popular and should develop innovative and creative strategies to resolve consumers’ problems. An Entrepreneur must remain involved in the day-to-day functioning of the businesses to make it a success. Must learn and should have the ability to directly communicate and network with investors, customers along with multiple stakeholders. Being the leader of the organization, an entrepreneur must possess the skills to hire appropriate talent, define the code of the conduct of the organization, participate in promotional strategies for the organization and must streamline the entire process of the conducting the business.

Route to Entrepreneurship Profession

• 10+2 in any stream
• Graduation BBA, B.Com, BBE or any commerce related field      
• MBA in Entrepreneurship/ HR/  Finance / Innovation, Entrepreneurship and Venture Development(IEV) etc.    

Significant Statistics

• No fixed age limit to become an entrepreneur 
• Must have an amazing business idea and willingness to succeed
• Recommended strong educational background
• Programs and courses in major business schools

Pros

• Opportunity to select the area of work as desired, and ability to use the strengths in possession to the fullest.
• Working hours can be scheduled as per comfort level
• Job satisfaction in observing the business growth

Cons

• Long working hours in the initial years
• Need to handle a lot of stress in managing the business
• A lot of financial risk is involved