The ‘Entrepreneurship’ word carries a lot of weight. Till last century it was limited to cotton, mining, spices and education. There is a vast change in the scene of business from past 30 years since the software boom. The Internet has made the world a very small place, cutting down the distance that separated by water and land. This also has made people come up with solutions thus making life easier.
Right now, entrepreneurs can be found in every field which was not even thought of till the last decade. They are in health care sector, food sector, sports you name it they are present there.
The stories we come across about these entrepreneurs is about the individuals with the brilliant idea who succeeded against all odds thereby gaining name, fame, and money.
The question is “Do these individuals really set themselves to this uphill task to achieve this”?
Below listed are observations or facts found amongst the entrepreneurs
First, these individuals would not have identified themselves as ‘entrepreneur’. Their focus will be on the idea which is an opportunity which in turn is opening up a wide range of possibilities. Identifying themselves as an entrepreneur would not be a priority for them.
Second, entrepreneurs irrespective of the location they are in understand the need to be community or the peer groups. As we are all interconnected there is always knowledge sharing and views
Third, the rise of social media and mobile technologies have made entrepreneurs work from remote locations. Many startups have been from their homes and managing things remotely. But some have moved to office spaces to get to the right ecosystem. The Ecosystem has its own advantages as it creates a work culture and accessible in the day to day interactions with entrepreneurs.
Fourth, entrepreneurs are surrounded by stories. This is commonly found in all the entrepreneurs irrespective of the location they are based. Stories about the IDEA and progress regarding it by others and approaches taken in the same or the different field keep circulating. Stories circulated can have multiple interpretations as all entrepreneurs are not good at narrating stories.
Fifth, stories about failures of entrepreneurs keep making rounds in the business circles. Observing the process and learning from others about the experience and preventive measures to be taken adds to valuable takeaway for life. Important takeaway would not stop experimenting because it is only through these attempts one succeeds.
Sixth, a journey of an entrepreneur can be described as how they look at the situations and how they respond to it. What are the lessons and how are they learned? Entrepreneurs are learning every day without any syllabus or any exams. These lessons add on to one’s experience and forcing you to make a smart move by continuous practice and learning all the way.
Seventh, entrepreneurs are people with vision r an IDEA. Unless they are exposed to the field of finance they might find it little challenging when it comes to fundraising, networking and building a team. Compared to earlier accessibility to cash flow is easier as there are quite a few institutions and individuals who have made it their business to invest in good ideas which can fetch them good returns.
Eighth, networking is one more area in which some entrepreneurs might take as fish to water and excel but it might take a little effort from others. This is a very important area as you have to build a trusted network of people from you gain knowledge, resources, talent and list goes on. Networking is a key element to success.
Ninth, you cannot become an entrepreneur alone. You do need to have a team of people who are as passionate and hardworking as you are to realize the vision. Finding co-founders, maintaining relationships with your teams who can stand by your side during thick and thin making the journey a lot easier.
Tenth, entrepreneurship has been thought as individuals launching new businesses. But this thought or opinion is also changing now. It is being considered as a LIFESKILL that prepares individuals to deal with situations in life which are uncertain.
These ten elements are not the only ones, the list is exhaustive. The trick is to trust your instincts, work hard and be ready to adapt and embrace the changes you come across and as you progress to achieve success.
— Team SoS