NITEE > Resources > Articles & Reports > Articles @ NITEE: “Entrepreneurship – About exploring new possibilities and opportunities! ” By Ms. Upasana Tandon

Articles @ NITEE: “Entrepreneurship – About exploring new possibilities and opportunities! ” By Ms. Upasana Tandon

October 9, 2015 10:13 am - Nitee Admin

Entrepreneurship – About exploring new possibilities and opportunities!

Believe in the power of your dreams. Entrepreneurs don’t WATCH, they PLAY.

Entrepreneurs are those triumphant innovators who follow their dreams firmly for their personal satisfaction, success and wealth. There is no definite strategy, formula or a path that one can follow and become a successful entrepreneur. Every entrepreneur should create his own path to success because Ctrl+C Ctrl+V does not work here. Entrepreneurs adapt their traits and apply it to problems around them.They keep juggling with the Whys, Hows and Whens in their minds all the time. An idea and an opportunity are two vital motivations for them.

An entrepreneur explores and solves the problem, and finds new approaches. It was asked on Quora once, what comes first in Entrepreneurship? Passion or Idea

The unanimous answer was: The Problem

Problem statement is the first thing which an entrepreneur looks for. Ideas evolve from those problem statements and implementing them requires strong faith and hard work. The road of entrepreneurship is full of risks but faith and passion nullify all kind of fears. It wasn’t until their 52nd online game and 6 years of efforts that makers of Angry Birds found their true worth. Today they have 500 employees, over a billion users and tie ups with the world’s most recognizable names like NASA, Star Wars and Chinese government.  And because each of the entrepreneurs has its own success story, they have given so much to the writers to write about. The book “Connect the dots” by Rashmi Bansal is all about the success stories of 20 non-MBA entrepreneurs. ”Go Kiss the World” by Subroto Bagchi is another book based on his story, how he went on to achieving extraordinary success from his rough beginnings, eventually finding Mindtree. All the sign boards on the road of entrepreneurship demand patience and your best efforts. An entrepreneur also gets to reap the benefits of ‘Freedom of choice’ and being ones own boss. Venture capitalists tend to have more trust in failed entrepreneurs than in newcomers. This statement simply conveys one thing very clearly that VCs look at the potential and passion of an entrepreneur. Funding, socio-cultural factors, infrastructure, risk averse nature, markets are some of the challenges currently faced by Indian entrepreneurs. Someone wisely said “When an idea ain’t working out, there should be a planned and informed shutdown, managing cash is a key to the long term success of  a new venture. If an idea is not working, don’t fix it”.

A smart entrepreneur knows and manages everything very nicely. He is well aware of the fact that Cash is the King and he ensures that he has enough and knows how to manage it. He bets on himself for his win. WhatsApp made an incredible success. CEO Jan Koum recently stated that WhatsApp has now more monthly users than Twitter and conveys more message than Facebook. Innovation has no end. WeChat is a new mobile phone text voice messaging app. There are millions of portals these days which are exploring unique techniques and scopes in discrete sectors. To create a successful and profitable startup four things are required: to start with good people, to make something people actually want, to promote it well and to spend as little money as possible. The way a startup makes money is to offer people superior technology than they have now. It’s like if you provide fuel to your notion, it generate light.

Age plays no role if they are determined to transform their passion into profession Recently, two young entrepreneurs S Sanjay (10 yrs old) and Shravan Kumaran(12 yrs old) were in the limelight. They are the founders of GoDimensions. They developed four applications for Apple store which have been downloaded numerous times from 20 countries.

An entrepreneur needs to think about few subtleties before moving ahead: Does it create value in the market? Does it solve an existing problem? Is it innovative? Can the business be self-sufficing? Can it attract Virtual Capitalist and Angel Investor?  Am I fooling myself?

There is very less co-relation between academic performance and entrepreneur success. The achievements of Steve Jobs, Mark Zuckerberg and Bill Gates nod in the agreement of the above statement. They are known as dropout billionaires. Steve Jobs once said “People who are crazy enough to think, they can change the world, are the ones who do!”.

India has nurtured some great entrepreneurs who believe that there is no shame in failing at something big, the only shame is not trying. It’s the venture that fails not the individual. B.M. Munjal (CEO of Hero Group), Subroto Bagchi (Mind Tree), Narayan Murthy(Infosys), DeepKalra(Make My Trip), Sanjay Bigchandani (Naukri.com), Phanindra Sama (redBus.in) etc are some successful entrepreneurs in our country. They felt the need, completed their survey on the existing problem and implemented their thoughts. In India, people are choosing Entrepreneurship as a career option. People say it’s just a fad these days, but it’s a new ray of changing the existing methods/techniques to deliver best economic goods. Many organizations are supporting programs for educating entrepreneurs on various traits. An initiative taken by Goldman Sachs to educate 10k women entrepreneurs on the grounds of business and management every year is indeed commendable. Women entrepreneurs encompass nearly ⅓ rd of all entrepreneurs worldwide. They possess very strong business ideas and have a strong passion to benefit others with their discoveries.

Entrepreneurship is a road of innovation where entrepreneurs’ focus lies on creativity, tolerance of risk and desire for achievement. They become the engines of employment formation as well. They are thinkers who are just trying to make a change instead of just accepting the things as they are and taking the risk of turning their ideas into reality.

Author -Upasana Tandon

upasana001@gmail.com

Believe in the power of your dreams. Entrepreneurs don’t WATCH, they PLAY.

Entrepreneurs are those triumphant innovators who follow their dreams firmly for their personal satisfaction, success and wealth. There is no definite strategy, formula or a path that one can follow and become a successful entrepreneur. Every entrepreneur should create his own path to success because Ctrl+C Ctrl+V does not work here. Entrepreneurs adapt their traits and apply it to problems around them.They keep juggling with the Whys, Hows and Whens in their minds all the time. An idea and an opportunity are two vital motivations for them.

An entrepreneur explores and solves the problem, and finds new approaches. It was asked on Quora once, what comes first in Entrepreneurship? Passion or Idea

The unanimous answer was: The Problem

Problem statement is the first thing which an entrepreneur looks for. Ideas evolve from those problem statements and implementing them requires strong faith and hard work. The road of entrepreneurship is full of risks but faith and passion nullify all kind of fears. It wasn’t until their 52nd online game and 6 years of efforts that makers of Angry Birds found their true worth. Today they have 500 employees, over a billion users and tie ups with the world’s most recognizable names like NASA, Star Wars and Chinese government.  And because each of the entrepreneurs has its own success story, they have given so much to the writers to write about. The book “Connect the dots” by Rashmi Bansal is all about the success stories of 20 non-MBA entrepreneurs. ”Go Kiss the World” by Subroto Bagchi is another book based on his story, how he went on to achieving extraordinary success from his rough beginnings, eventually finding Mindtree. All the sign boards on the road of entrepreneurship demand patience and your best efforts. An entrepreneur also gets to reap the benefits of ‘Freedom of choice’ and being ones own boss. Venture capitalists tend to have more trust in failed entrepreneurs than in newcomers. This statement simply conveys one thing very clearly that VCs look at the potential and passion of an entrepreneur. Funding, socio-cultural factors, infrastructure, risk averse nature, markets are some of the challenges currently faced by Indian entrepreneurs. Someone wisely said “When an idea ain’t working out, there should be a planned and informed shutdown, managing cash is a key to the long term success of  a new venture. If an idea is not working, don’t fix it”.

A smart entrepreneur knows and manages everything very nicely. He is well aware of the fact that Cash is the King and he ensures that he has enough and knows how to manage it. He bets on himself for his win. WhatsApp made an incredible success. CEO Jan Koum recently stated that WhatsApp has now more monthly users than Twitter and conveys more message than Facebook. Innovation has no end. WeChat is a new mobile phone text voice messaging app. There are millions of portals these days which are exploring unique techniques and scopes in discrete sectors. To create a successful and profitable startup four things are required: to start with good people, to make something people actually want, to promote it well and to spend as little money as possible. The way a startup makes money is to offer people superior technology than they have now. It’s like if you provide fuel to your notion, it generate light.

Age plays no role if they are determined to transform their passion into profession Recently, two young entrepreneurs S Sanjay (10 yrs old) and Shravan Kumaran(12 yrs old) were in the limelight. They are the founders of GoDimensions. They developed four applications for Apple store which have been downloaded numerous times from 20 countries.

An entrepreneur needs to think about few subtleties before moving ahead: Does it create value in the market? Does it solve an existing problem? Is it innovative? Can the business be self-sufficing? Can it attract Virtual Capitalist and Angel Investor?  Am I fooling myself?

There is very less co-relation between academic performance and entrepreneur success. The achievements of Steve Jobs, Mark Zuckerberg and Bill Gates nod in the agreement of the above statement. They are known as dropout billionaires. Steve Jobs once said “People who are crazy enough to think, they can change the world, are the ones who do!”.

India has nurtured some great entrepreneurs who believe that there is no shame in failing at something big, the only shame is not trying. It’s the venture that fails not the individual. B.M. Munjal (CEO of Hero Group), Subroto Bagchi (Mind Tree), Narayan Murthy(Infosys), DeepKalra(Make My Trip), Sanjay Bigchandani (Naukri.com), Phanindra Sama (redBus.in) etc are some successful entrepreneurs in our country. They felt the need, completed their survey on the existing problem and implemented their thoughts. In India, people are choosing Entrepreneurship as a career option. People say it’s just a fad these days, but it’s a new ray of changing the existing methods/techniques to deliver best economic goods. Many organizations are supporting programs for educating entrepreneurs on various traits. An initiative taken by Goldman Sachs to educate 10k women entrepreneurs on the grounds of business and management every year is indeed commendable. Women entrepreneurs encompass nearly ⅓ rd of all entrepreneurs worldwide. They possess very strong business ideas and have a strong passion to benefit others with their discoveries.

Entrepreneurship is a road of innovation where entrepreneurs’ focus lies on creativity, tolerance of risk and desire for achievement. They become the engines of employment formation as well. They are thinkers who are just trying to make a change instead of just accepting the things as they are and taking the risk of turning their ideas into reality.

 

Author -Upasana Tandon

upasana001@gmail.com

Share This...