Do you have it in you?

Entrepreneurship is a process that involves activities associated with the perceiving of opportunities and creation of organization to pursue them.Entrepreneurship begins with action,the creation of new organization.This organization may or may not become self-sustaining and in fact ,may never earn significant revenues.But,when individuals create a new organization,they have entered the entrepreneurship paradigm.

Entrepreneurs are different from other people .Entrepreneurs see change as norm and as healthy.Entrepreneur always searches for change,responds to it and exploits it as opportunity.They discover or create innovation to exploit opportunity.They put together and manage capital,people and material resources to bring their innovation to market.They help imrove quality of life through their innovations.They create wealth and add to economic growth.

Quite often,entrepreneurial creativity challenges the existing status quo.People do not like to change the way they presently do things.Customers are used to products,which have been functioning well and don’t see reason to shift.The world is more comfortable with the tried and tested.Changing the way things are done, calls for will and passion.It calls for perseverance to see through the resistance offered.All behavior ,which looks to change the existing way of doing things,entails riskRisk perception of entrepreneur is lesser than that of most people.

The entrepreneur doesn’t need to own resources.He is happy with the ability to use them and own only those,which are absolutely needed.

The entrepreneur knows deep inside,what has caused him to take this step towards risky independence and self reliance.Starting own business will challenge in ways one can never imagine.Along with independence and self reliance ,it will also bring accountability to customers,long hours on the job and lots of time away from family and friends.

The entrepreneur has a clear vision about what business needs to accomplish.It takes energy and resources to build business,but it takes passion for a cause to sustain it.Vision and purpose of future business is the source of passion.

The entrepreneur sustains success by preparing for anything.One important characterstics of enduring companies is that ,while they are clear about their fundamental purpose,they are always refining and revising how this purpose is expressed through the business.Companies that outlive their founders do so because they are always scanning the world around them,listening to customers,monitoring trends,observing the competition,and then adjusting their own path into the future.The entrepreneurs are perpetual learners.They learn from customers,employees,regulators,competition.



They are not satisfied until they make a lasting impact on their surroundings.When things don’t go their way they get very upset as they are very high on self esteem and self confidence.

The social,cultural,financial and regulatory environment in a country affects the nature and growth of entrepreneurship.Access to capital is vital whether an entrepreneur is starting a business from scratch or operating within an established organization.The right regulatory and tax environment is also key.High personal and corporate tax rates can significantly reduce an entrepreneur’s potential reward,discouraging the risk taking that is vital component of entrepreneurial behavior.The most important prerequisite of entrepreneurship is social and cultural environment in which achievement and wealth creation are held in high regard.

India has changed a lot in last 17 years after liberalization.Economic activity is now driven largely by private sector.Government has realized that it has to act as a facilitator.Tax rates are coming down.Small and medium enterprises are major contributors to Indian economic growth thereby creating large scale employment.Today achievers are portrayed as heroes by Indian families.Environment is right.If you have it in you ,get ready to travel on a road of entrepreneurship.