ENTREPRENEURSHIP
Patience is a virtue and perseverance pays off in the end, so goes the saying. For many successful entrepreneurs, especially Indian entrepreneurs, this couldn’t be more true. It is not by a conspiracy of happy accidents that successful entrepreneurs are what they are. They are not just promoters, they have superior managerial skills that make them entrepreneurs.
Entrepreneurs are trained for success. They have abilities to contain stress and discomforts and know how to maintain composure when confronted with disappointments. They do not seek risks. They manage risks. They are creative individuals who have an uncanny ability to find solutions to complex problems. They are sufficiently self aware, clearly understanding how their personality traits can affect their decision making.
There is no ideal profile for successful entrepreneurs. They can be gregarious individuals who are simply daring and intuitive. They can also be quiet individuals who are very cautious and analytical. The characteristics that set them apart as successful entrepreneurs are many. The have a unique style in their approach to business and some of these are increasingly noticeable as common attributes among successful entrepreneurs. Some of these are worth examining to get a perspective.
Many of the successful entrepreneurs have demonstrated an ability to make pleasant and unexpected discoveries entirely by chance. In a world of ingenuity, spontaneity and rush, the ability to realise creative ideas into profitable ventures is only possible with a superior capacity to perform. The aptitude for organising execution of these ideas is the key to success. Strategy is necessary but it is not everything. In order to turn good ideas into good businesses, entrepreneurs know that the key to success is the art of day to day management. So they delegate and empower their people. Successful entrepreneurs assemble the best of human resources, reward them well and partner them in the growth of the enterprise. The rewards they offer in terms of meeting the aspirations of the people are both financial and non-financial. This is particularly important in the current scenario where there is an increasing struggle to attract and retain the pool of talented people, which is unable to keep pace with the demand.
Flexible as they are, they quickly respond to the market. They are highly customer focused and therefore adaptable to changing needs. They are innovative and have the grit to handle rejections. Successful entrepreneurs know when to say “No” and how to say “No”.
They have clear goals and they keep their people focused on the goals. They do not shy away from technology. They think globally realising that with business going international there are fewer trade barriers. They benchmark themselves against global competition and prepare themselves to face it. The ability to manage bottom-lines is crucial. Numbers speak and they are real. Entrepreneurs who have marginal number skills are rarely successful.
They are future oriented. When the business grows large, the founder keeps asking the question Am I the right person to run this business ? Successful entrepreneurs acknowledge this reality and bring in the right talent to grow the business.
They are socially responsible individuals who recognise that they should protect the environment and contribute their mite to social causes. This is a trait among successful entrepreneurs who feel indebted to the society in which they live. Simply put successful entrepreneurs are a different lot. And no wonder they triumph.
So where is the Indian entrepreneur? In the Indian context, entrepreneurship is recognised as a factor of production. To be able to perform in a country that still has phobias from the recent past and where creation of wealth is not a particularly popular activity that has social approbation, the Indian entrepreneur is at a disadvantage. There is no dearth of entrepreneurial skills in this country. We simply do not have the right climate.
It is only in recent times that Indian entrepreneurial skills have found some visibility in this country. These unsung heroes have without any help weathered the storm. Some have just survived, some have perished and a few have become successful. The economic values that entrepreneurs can add to the growth of the Indian economy are yet to be publicly acknowledged and rewarded. Sometimes their efforts to succeed are unduly curbed by legislation, government regulation and bureaucratic hurdles.
Their role in the growth of the Indian economy is very critical. These enterprises can become a major source for government revenues and foreign exchange not to speak of the jobs they can create and the technology they can bring in. Entrepreneurs and entrepreneurial companies have the potential to be the engines of growth for this country. Although the government and the bureaucrats are beginning to understand the role and importance of these people, there still remains a very strong need for a coherent and cohesive voice to speak for the entire entrepreneurial community. A voice that will be heard and that can influence and educate the policy makers and the press. A voice that will foster the growth of entrepreneurship in this country. Who can do this effectively and efficiently?
It is only the successful Indian entrepreneurs who can set this revolution in motion. A revolution that will influence the thinking and recognise the contributions of the Indian entrepreneur in nation building. A strong voice that will seek to remove the obstacles that governments sometimes unknowingly create to hamper the spirit of enterprise in this country. A movement that will pave the way and educate the system to lay a strong foundation for free enterprise in India. A climate that will foster the indomitable spirit of the Indian entrepreneur.
"Full many a gem of purest ray serene the deep unfathomed caves of ocean bear. Full many a flower is born to blush unseen and waste its fragrance on the desert air."
- Anonymous
Entrepreneurs are trained for success. They have abilities to contain stress and discomforts and know how to maintain composure when confronted with disappointments. They do not seek risks. They manage risks. They are creative individuals who have an uncanny ability to find solutions to complex problems. They are sufficiently self aware, clearly understanding how their personality traits can affect their decision making.
There is no ideal profile for successful entrepreneurs. They can be gregarious individuals who are simply daring and intuitive. They can also be quiet individuals who are very cautious and analytical. The characteristics that set them apart as successful entrepreneurs are many. The have a unique style in their approach to business and some of these are increasingly noticeable as common attributes among successful entrepreneurs. Some of these are worth examining to get a perspective.
Many of the successful entrepreneurs have demonstrated an ability to make pleasant and unexpected discoveries entirely by chance. In a world of ingenuity, spontaneity and rush, the ability to realise creative ideas into profitable ventures is only possible with a superior capacity to perform. The aptitude for organising execution of these ideas is the key to success. Strategy is necessary but it is not everything. In order to turn good ideas into good businesses, entrepreneurs know that the key to success is the art of day to day management. So they delegate and empower their people. Successful entrepreneurs assemble the best of human resources, reward them well and partner them in the growth of the enterprise. The rewards they offer in terms of meeting the aspirations of the people are both financial and non-financial. This is particularly important in the current scenario where there is an increasing struggle to attract and retain the pool of talented people, which is unable to keep pace with the demand.
Flexible as they are, they quickly respond to the market. They are highly customer focused and therefore adaptable to changing needs. They are innovative and have the grit to handle rejections. Successful entrepreneurs know when to say “No” and how to say “No”.
They have clear goals and they keep their people focused on the goals. They do not shy away from technology. They think globally realising that with business going international there are fewer trade barriers. They benchmark themselves against global competition and prepare themselves to face it. The ability to manage bottom-lines is crucial. Numbers speak and they are real. Entrepreneurs who have marginal number skills are rarely successful.
They are future oriented. When the business grows large, the founder keeps asking the question Am I the right person to run this business ? Successful entrepreneurs acknowledge this reality and bring in the right talent to grow the business.
They are socially responsible individuals who recognise that they should protect the environment and contribute their mite to social causes. This is a trait among successful entrepreneurs who feel indebted to the society in which they live. Simply put successful entrepreneurs are a different lot. And no wonder they triumph.
So where is the Indian entrepreneur? In the Indian context, entrepreneurship is recognised as a factor of production. To be able to perform in a country that still has phobias from the recent past and where creation of wealth is not a particularly popular activity that has social approbation, the Indian entrepreneur is at a disadvantage. There is no dearth of entrepreneurial skills in this country. We simply do not have the right climate.
It is only in recent times that Indian entrepreneurial skills have found some visibility in this country. These unsung heroes have without any help weathered the storm. Some have just survived, some have perished and a few have become successful. The economic values that entrepreneurs can add to the growth of the Indian economy are yet to be publicly acknowledged and rewarded. Sometimes their efforts to succeed are unduly curbed by legislation, government regulation and bureaucratic hurdles.
Their role in the growth of the Indian economy is very critical. These enterprises can become a major source for government revenues and foreign exchange not to speak of the jobs they can create and the technology they can bring in. Entrepreneurs and entrepreneurial companies have the potential to be the engines of growth for this country. Although the government and the bureaucrats are beginning to understand the role and importance of these people, there still remains a very strong need for a coherent and cohesive voice to speak for the entire entrepreneurial community. A voice that will be heard and that can influence and educate the policy makers and the press. A voice that will foster the growth of entrepreneurship in this country. Who can do this effectively and efficiently?
It is only the successful Indian entrepreneurs who can set this revolution in motion. A revolution that will influence the thinking and recognise the contributions of the Indian entrepreneur in nation building. A strong voice that will seek to remove the obstacles that governments sometimes unknowingly create to hamper the spirit of enterprise in this country. A movement that will pave the way and educate the system to lay a strong foundation for free enterprise in India. A climate that will foster the indomitable spirit of the Indian entrepreneur.
"Full many a gem of purest ray serene the deep unfathomed caves of ocean bear. Full many a flower is born to blush unseen and waste its fragrance on the desert air."
- Anonymous