Entrepreneurship As a Career Option

As an online audience or someone who constantly remain in touch with the outside world, you must have noticed a frenzy of new ventures being launched by a youngsters who want to make it big out there in this global pedestal. Success stories are being written and history is being created so often which is changing the entire landscape the way business was being perceived till now. Should we view entrepreneurship as a career option, is the burning question of today’s modern mindset.

• Entrepreneurship as a career choice is a question which has been discussed extensively in this rapidly changing technological world. In fact lately it has become one of the most pursued objectives sought by college students who after their graduation plan to become future entrepreneurs. The question which lurks today is whether entrepreneurship stands as a bright career choice. Undoubtedly there are umpteen opportunities in entrepreneurship. 

 

• In fact, in today’s world entrepreneurs have become job creators as they provide employment to umpteen people in various organizations. An entrepreneur is independent minded individual with a broad vision and problem solving skills which enables them to have a better understanding of business economics, networking.
• Entrepreneurial career can vary from being simply an entrepreneur to angel investors, corporate entrepreneurs, educators and even participants in making policy decisions in the government

Planning &  Preparing for the Business Venture

• It becomes absolutely imperative to properly plan out your entrepreneurial journey before beginning it. Find the gaps in the existing market so that you are able to offer something new and substantial, even if you plan to establish a business model that will eventually help you in standing out from others.

• Answering the following questions will eventually help you arrive at a decision and once you are eventually satisfied with your solutions, you can go ahead with your project. Possessing the required qualities of an entrepreneur is highly significant which includes perseverance, determination, ambition, creativity and more. Some of the questions are:
• Do you know the way you will be arranging the funds of your business?

• Is there a demand for the products you are offering in the market?
• Have you done enough research to find out if there is a strong growth potential for your product?
• Do you have the vision to see through the facts whether your venture will be profitable 5-10 years from now?

Maintaining a Well Balanced Network of People

• The biggest challenges faced by entrepreneurs of today’s global world is their ability to maintain an intricate balance between time and money. In the initial days of your struggle, both these are on the lesser side and hence ultra-valuable.
• However learning from various established business leaders who have already faced several challenges in their professional lives and have been able to overcome them while coming out with flying colours can contribute in your success.

 

• The old adage “look before you leap” might indeed sound quite old fashioned for you, however it is the best thing to do while beginning your entrepreneurial journey.
• An intelligent entrepreneur has an eye for detail for finding various gaps in the market and try to find out a workable solution for the entire process. Following your innovative path with fresh and out of the box ideas all will ultimately make you stand out from others.
• An intricate network of well connected people can make life easier for you as it helps you get your foot in the door when you make several attempts to meet with the right investors. Referrals and people who already know someone you are an acquaintance with can be very helpful and valuable for investing their trust in you.

• A mentor cannot be forced so never ask every second acquaintance about becoming your mentor. That won’t really work in your favor. Instead, if with passage of time, you feel that there is indeed a valuable connection created between you and the mentor, it can absolutely affect your entrepreneurial journey in a big way.

Bridging the Gap

• For the future entrepreneurs or entrepreneurship aspirants, a strong network between the academic institutions and various entrepreneurial associations can help narrow down and ultimately bridge this divide. Life as an entrepreneur is challenging. 

• In fact if the educational institutions also become contributors in encouraging young future entrepreneurs who want to make it big some day in their lives and are ready to devote their valuable time and zeal in creating their future.
• They could create programs in schools which teach them the ways to sell small product and services, thus serving as workshops and laboratories of real life experience and learning.
  
• On the other hand at the same time educational institutions could also offer a deferred placement process which eventually encourages students work on their venture ideas in place of an internship which is otherwise the conventional way to go.

In fact organizations can also introduce a system wherein an employee would be able to take a sabbatical and later absorb them back into the organization in case they changed their minds and their entrepreneurial journey failed to create a solid impact or couldn’t live up to their expectations. Also, ventures involving family managed businesses and varying franchisees also need to be encouraged.

The environment around which a person lives shapes his future. Other significant influencers besides the family includes educational institutes and the peers which ultimately play a critical role in determining career options.

There is no doubt that in an entrepreneur’s path to success, there will be humongous obstacles and huge challenges. The need is to overcome them and then sky is the limit for attaining success in this global entrepreneurial environment. Entrepreneurship as a career option is a wonderful thing to happen to the youth of today.

Want to know the essential leadership qualities which can make you super successful as an entrepreneur? Watch the video!