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Entrepreneurship: An act of chewing iron peanuts

Every employee has a hidden dream that someday I will start my own business and become an entrepreneur but in reality it is not that much easy; most of the times when an employee attempts becoming a promoter – he encounters failure at the very beginning. This is not a thumb rule that every employee who starts something of his own will fail for sure but the trend has proven that.

Now few questions arise – why an employee does the day dreaming of becoming an entrepreneur? Employee thinks for whom I am taking this much toil? What if I do even 1/10th of this what I am doing currently but for my own venture? What is my future security? How long shall I be doing this?

Here the discussion is not to conclude that job is inferior, bad and entrepreneurship is superior and good; every coin has two sides same way the shift of an employee from employment to entrepreneurship also has two sides and one has to understand the basics of that else there will be unwanted, undesired and unpleasant consequences to answer.

Let’s understand the very basic yet very vital phenomenon through some very though provoking points as mentioned below:

  • First and foremost thing is to deal with the mind-set. A person who has done job since a long time has cultivated a habit to receive a salary on a fixed date and when same person becomes a promoter then his salary discontinues but on the contrary he has to pay salaries on fix date and that is very painful in the initial stage. So, Be Mentally Strong.
  • That doesn’t mean that everybody doesn’t succeed – but only thing is that one has to master the process of value creation. While doing a job – person might have the limited knowledge pertaining to some field but being an entrepreneur one has to gain command over other verticals like commercials, finance, etc apart from technical & market knowledge. Therefore, Never Start A Business With Only One Or Two Expertise.
  • Regardless how sound you are technically or professionally but if you don’t understand the basics of financial aspects then there are full chances of turmoil. So As An Entrepreneur You Have To Develop Wisdom 10 Times More Than An Employee Might Have.  
  • Business not always depends on an idea; it mainly depends on a strategy, rather I would say on strategies. One should always have to have a Plan A, Plan B and Plan C. Therefore work on multiple dimensions like working capital, procurements, margins, credit-debit, developing strong team, etc
  • Moreover the keen observation is the vital part of entrepreneurship – if you have failed then why you have failed, if others have succeeded then why they have succeeded – the minute observation of all these is very essential. Here, you can always consult experts before & after starting a venture and seek for continuous guidance.
  • Another important aspect is decision making: being an employee you always have been a strong critic of your employer for being a slow decision maker but the moment you become an entrepreneur you also ride in the same boat and take all decisions very slowly after looking all the aspects 360 degree. Therefore if you are well versed with all the functions, departments and divisions of an organization then only start a venture.

Lastly, I would say only one thing – entrepreneurship is a mind game so if you are mentally strong and committed not to look back then jump into it and cherish the fruits of entrepreneurship.

If you have any questions, doubts, queries or confusions regarding entrepreneurship then write to us we shall get back.

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