Diverse Spectrum of Entrepreneurs
There is a diverse group of people – entrepreneurs, youngsters brimming with energy and unwavering spirits, middle-aged professionals with several years of experience, young adults just out of college, etc. But what’s common among all of them is that they are passionate about what they do and are so driven by the fire in their belly to succeed that they cannot fit into the common basket.
Changing Face of Businesses
1995 saw the release of the movie ‘Arunachalam’ in which actor Rajinikanth played the role of a businessman with multiple cars, smart clothes, good looks and relatives. On similar lines, the year 2015 saw the film ‘Dil Dhadakne Do’ in which Priyanka Chopra played the role of an aspiring businesswoman. Of course, both films revolved around love and drama catering to Indian movie style, but they also talked about the changing face of businesses.
Start-ups cannot operate in a vacuum, but they need a supporting ecosystem and a congenial surrounding in which they can operate. Entrepreneurs have been setting up businesses for many years now. These establishments are venturing themselves into rural areas also.
However, unlike the previous generation of entrepreneurs who concentrated on developing products to meet the demand outside India, the new age entrepreneurs seek to develop those products and provide those services that solve issues within the country.
An increasing number of school and college going students talk about setting up businesses. But what is surprising is that parents too, are talking about it proudly. The previous generation was into hard-core traditional business. Whereas now, we are in a world of ever changing technology, high-speed internet and social media. In such an environment, setting up businesses proves to be more successful.
The opportunities available now are manifold. Now, any person with a mobile phone or a laptop and internet connection can start a business. It’s better to stay focused on the legacy and not the currency. Often, it’s not the first idea that works. You must take it to the market, try applying it, meet some obstacles, take in feedbacks and responses, learn from mistakes and then come back to the drawing board. It often becomes a success when the perfect partners come together.
Empowering Entrepreneurs in the Digital Age
The strong suit of entrepreneurship is that it can be found anywhere, anyone can be an entrepreneur. With a significant rise in women empowerment and women entrepreneurs, the world is having a remarkably positive change. Women are transforming societies and families, besides making contributions to business development. India does not fall behind in the race. With hugely successful women and men like Ratan Tata, Indu Jain, Indra Nooyi, and many, many more, India is leading the race. There are two things in common between these powerful people. Firstly, they dared to dream and secondly, their never give up attitude.
There are no open doors or windows for entrepreneurs. There is an open roof. For any entrepreneur, the sky’s the limit. And the only prerequisite is an idea. The idea is like a jetpack that blasts them to their ultimate destination- which is ‘Success”. We can take for example, the movie ‘Joy’, based on the true story of Joy Mangano, American inventor, entrepreneur and author. She was terribly criticized for her ‘Miracle Mop’. Using her own savings and investments from family and friends, she made a prototype and 100manufacturing units. By the year 2000, her company was selling $10 million worth of Miracle Mops per year.
An entrepreneur is like a candle stick in a dark room, and his/her ideas is the spark that sets it on fire. Entrepreneurs are very important to the economy. They create new businesses. Trailblazing offerings by entrepreneurs, in the form of new goods and services, can produce a cascading effect by stimulating related businesses or sectors supporting the new venture, furthering economic development. Entrepreneurs are very hard workers. They put in 99% of perseverance and sweat, and luck favors them by 1%
They contribute to the national income of the economy by generating new wealth through their innovative thinking and new ideas. Additionally, they also increase the employment level and utilize resources efficiently. Most importantly, they create social change. Entrepreneurs breakaway from tradition and indirectly support freedom by reducing dependence on obsolete systems and technologies. Is there anything entrepreneurs cannot do?
Entrepreneurship is like a method which contains a set of skills and is learnable. It has now become more global than before. It has started to become more related to design-thinking. Just by sitting in the park on the roadside, one can come up with a bunch of ideas and opportunities just by observing everyone and everything around. The world needs more creativity and simpler yet innovative approaches to common problems. And these are provided by budding entrepreneurs today.
The entrepreneurship spirit can be summed up in two words- ‘Risk’ and ‘Change’. The world of entrepreneurship has changed greatly in the last few decades and it has changed for the better. Entrepreneurship is still built in risky and precarious ideas & deals, but the people pursuing them have undeniably changed. The internet is offering unquenchable opportunities for young entrepreneurs. Advancements in technology have created a sea of change making it easier to do business today. You no longer need an office to run a business. You can merely work from home, sell products online and even provide services virtually. Promotion, marketing and advertising has become easier and more effective on social media platforms.
Democratization of Entrepreneurship: Breaking Down Barriers
Many people have great ideas, but the point of action is what matters. But while technologies like crowdfunding platforms, DIY Web design programs and social media have empowered modern aspiring business owners to achieve their dreams, “the democratization of entrepreneurship” is as much a cultural phenomenon as it is a technological one, said Stewart Thornhill, executive director of the University of Michigan Zell Lurie Institute for entrepreneurial studies.
‘Democratization of entrepreneurship’ is a social trend which greatly helps developing countries. Entrepreneurship will always remain popular if there is a demand for innovation. And demand for innovation will never cease to exist. In the new era, the barriers of entrepreneurship-such as lack of opportunities, severe market entry restrictions, lack of experience, fear of failure, etc. are all being removed by or replaced with innovation.
Entrepreneurship has always been available to everybody but there were many walls securing it. Geographic boundaries remained artificial barriers to growth and development. However, due to globalization and cross-cultural exchanges, etc. this gap is being met. With the new era charging forward, all these walls are breaking down and letting out a flood of creation and passion induced individuals with their unique individuality. With a rise in social entrepreneurship and the thought of “do well by doing good”, many start-ups are formed for the sake of spreading awareness and making positive changes.
In short, entrepreneurs are change makers. They talk the talk and walk the walk. Their jobs don’t start at 9 A.M and end at 5PM. They don’t wait for ‘Opportunity’ to knock at their doors, instead they build it!
“The true entrepreneur is a doer not a dreamer” –Nolan Bushnell