Reality of ENTREPRENEURSHIP

Entrepreneurship is the most popular term we hear in these days. What exactly is it? Why is it a game changer? How to do it right? What have I learnt? I'd like to share my thoughts, perceptions, and experiences in this article.

What is Entrepreneurship?

It is a process of approaching a problem, solving it, taking it to customers, and impacting their lives.

Why is it a game changer?

Since our childhood, we have been made ready to be a good employee. When I talk to people regarding opportunities, the only thought they get in mind is JOB. The illusion of permanence in job has been making us to run after jobs, leaving behind our passions, capabilities, and dreams. This is also disturbing our work-life balance, and becoming a reason for many broken relationships.

Entrepreneurship on the other hand is a path to achieve our goals, dreams, and passions. During this journey, we figure out our capabilities, explore new things, work on real challenges, and most importantly grow more as US. Most common fears w.r.t entrepreneurship are the risk it posses, and it's impermanence. The ground reality is no field is permanent, or without risk. When we start working, we know nothing, but the more we learn the more we grow. This is the same, awareness, knowledge, and learning are the key factors in entrepreneurship.

How to do it right?

There is no right way of doing entrepreneurship, it's a continuous learning, and continuous applying process. The most usual way of doing entrepreneurship is, we find a problem, think of a solution, and start looking for investment. Once we get it, we just start increasing our liabilities by taking office spaces, hiring people, and going with unnecessary expenses. This will not only be the burden on us, but also let us deviate from the purpose of being an entrepreneur. From "let's solve a problem", we shift our thoughts to "how to generate revenue", as we have to take care of expenses. The best way to do this is, build the solution before getting it to the investors. Instead of hiring, collaborate with the required skillset. Start small, no great company today has started big. Once you build the solution, do the pilot testing with the sample of your target market, talk to them, listen to them, involve them in the process, take criticism, and use it constructively. People don't buy product because you built it for them, they need to see the purpose. In your thought process, you might be always right, but when you think like an end user, your perspective changes, so as your approach.

My Learnings.

In this entrepreneurship process, I have learnt lot of things. I am just scrutinizing the most important ones here.

1. People are not waiting for us to launch a product, in fact they don't even care how much we have worked, unless they see the benefit.
2. Solving a problem which doesn't exists will give us nothing.
3. People are not always aware of what we talk or sell. First step to take our solution to them is to bring awareness in them about it.
4. Business without flexibility or customization or adaptation will never succeed.
5. Money is just a by product of the result of our offerings.
6. We can't run business with assumptions, data is the primary key, and we should invest our time to collect and analyze it.
7. Losing one customer isn't about losing just one, it's losing a mindset, which means, we would be losing many with similar mindset.
8. One golden rule of entrepreneurship is honesty, we can't keep our customers in clouds for long time.

I would like to conclude this with a point in what I believe most.

Entrepreneur is a soldier, who fights with the problems, protects us from ignorance, and take us forward to the future.

You can always reach out to me for guidance or opportunities or suggestions or collaborations. Good luck!

LinkedIn: https://www.dhirubhai.net/in/vspa1inn/ or https://www.dhirubhai.net/in/squpus/

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