Welcome aboard the First Generation Entrepreneur Learning Adda

I am an undergrad student at BITS -Pilani Hyderabad (India), passionate about Entrepreneurship in India and this blog is solely dedicated to FIRST GEN. ENTREPRENEUR.
I will be sharing Resources ,Start up Stories and my own experience as well..So keep following and drop in ur valuable comments/feedback :-)

Tuesday, January 5, 2010

To be or not to be an Entrepreneur

“Chaos and uncertainty - two things you must learn to live with if you want to be an entrepreneur”
“You have an idea or a maybe even a lot of them. But you don’t know where to start. You are confused.” “Then you can assume you are in the right place… you are fit to be an entrepreneur.”

  • What makes an entrepreneur entrepreneurial? The difference between the managerial mindset and the entrepreneurial one
  • Nature of opportunities - creating them versus discovering them
  • Crossing the entrepreneur chasm - Steps/aids to cross the chasm
  • The four important factors you cannot ignore while starting up - People, Operations, Finance and Dealing with Competition
Let me try to outline each of the above
What makes entrepreneurs entrepreneurial?
Most entrepreneurs start off knowing only one thing for sure and that is “they want to do something on their own.” Though they may have an idea for a product or service, they aren’t really sure what their end objective is. Their passion is more inclined towards pursuing an idea than a clearly set target or goal. They frequently encounter roadblocks, either of their own making or from the ecosystem, that make them change their mind, change their product or service, or even change their very basic idea. But they go on with their pursuit. This exactly, this state of chaos and uncertainty, is what sets an entrepreneur apart from others, from other ‘though-successful-but-not-on-their-own’ people, more widely called “managers”. The art of dealing with uncertainty is then what makes or breaks an entrepreneur. While a manager performs his best amidst rules, targets, and easily available resources, an entrepreneur flourishes in the very antithesis of these.
So if you have been wanting to start out on your own or have recently ventured into it but increasingly find yourself confused and frequently changing your stance, don’t be perturbed. This is the right way to start.
 
next few questions above will be taken up in next post ....happy reading ...do copmment and give ur feedbacks:)

1 comment: