Entrepreneurship is way different from being an employee on a payroll. It can be said as a lifestyle one chooses to follow. Doing something that you are most passionate about forms the backbone of an entrepreneur life. If your visions are not clearly on focus, there is every chance that you wont make it . But having said that , It is not always about doing the right thing rather it is about consistency.The worst thing about being an entrepreneur is that only a few people in the world could acknowledge what you are actually trying to achieve. The rest would be counting you as yet another “jobless” desperately doing unproductive work just because he has nothing else to do.
1. Safest entrepreneurship- College start ups
College start ups can be considered as the safest zone of one’s entrepreneur life. Not many have the luck to start one from college itself. College is one place where you are not much affected by pressures from the outside world. College offers one with ample facilities like free internet connection and office space. Most colleges have an ED cell which are targeted to help budding innovators .You get access to various resources like technology, investors etc from the college.
One would get the best team from his own college. If we are to look into the established start ups around us, we could notice that 80% of those are started by college mates. Team mates from within the college means better understanding and commitment. You can get the best guys from college only because once they are out , it is more likely that they would be swallowed by some giant MNCs. Another major problem for young entrepreneurs are family problems. No one would be expecting us to earn while we are still in the college so we don’t have to satisfy anyone. If you could get some bounty even while in the college, then that would be a leverage.
Publicity and marketing are two important business aspects of a college start up. You will get enough publicity outside since you are having transmitters from within and you can save lots of media publicity.Talking about media publicity, I can assure you that you would get more media publicity if it is a college start up because both the mob and media love to enhance young people. This is not just a gut feeling but proven fact. Most of the newspapers would be having a youth supplementary specially meant for the same. ‘The young world’ of THE HINDU and ‘METRO YOUTH’ of MANORAMA are well known examples. Coming to investors and supporters, most of the angel investments made have been to help college start ups because they believe innovations can be at its best during college life. Huge investors give ample time for budding entrepreneurs to share their idea and help them in suggesting ways to sharpen those.
2. Motivations for an Entrepreneur Life
There is an endless joy in doing something you would love to do. Whenever a problem arises while executing your most passionate idea, you are thrilled to solve it. It might take hours and days before you could actually end up in the solution but that wouldn’t just seem to be work for you. It would more accurately be fun and when it comes to fun, it never ends. Sometimes the solution to your problems might not be a huge thing in terms of bounty but the satisfaction that it brings to you is immense. If you are not finding that satisfaction in what you do, then take a moment to ponder whether it is really what you are passionate about. There might be hurdles in front of you and what you are always seeing are failures, but do not lose grip because you are just a feet away from success. Actually you want really learn the game if you are not hit several times. An early blow would mean less damage and more knowledge. “If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough.” If your mind is on profiting anyhow, you will have to be sorry; rather if it is focused on excelling on something, wealth will follow you. You will have to sacrifice your social and family life during the initial stages but consider it as a token to a wonderful life ahead.
3. Bootstrapping – Key to Success
Bootstrapping simply means being independent. You should be free to take decisions in your business life. You should be solely responsible for everything that happens to you. Let no one else pull the thread for you no matter how trusted he is to you. Many people have lost midway due to wrong partnerships. Partnerships can prove costly than your own idea. While choosing you partners, be extremely wise lest you fall into a trap. Whomsoever you join with , however close you are, always make a written agreement on the business. When there is not much bounty, there would be strong relations but when money starts flowing, relationships starts widening. If you have a pre-written agreement for everything, you would be safe. Read this article to learn more about entrepreneurship and what it takes to be an entrepreneur.