HOW TO BECOME A COMPETENT ENTREPRENEUR

“Skills aren’t fixed – they are the outcomes of effort, practice, and tenacity.” – Maggie Robb

I’m sure the first thing which must have crossed your head after reading the heading, would have been, “Can everybody be an entrepreneur?”, and to this,I would like to state“Yes, if you want to.” Understanding the meaning of an entrepreneur is the first step indeed. Entrepreneurs are people who work for their own business and are known for their risk bearing capability. Talking in terms of Google for a more appropriate meaning, an entrepreneur is a person who makes money by starting or running businesses, especially when it is to do with risk. Well, entrepreneurship is much more than making money, it enables a person to give employment to thousands of others by starting up a new business. So, here you have an opportunity to not just earn money and be a boss but also to serve the society by giving employment and other facilities required.

We often dread the concept of starting with nil and that too in the business field is too risky, because there areuncertainties and challenges, and one mistake takes you back to the pavilion but isn’t it great to do something until you are good at it, and you always aspire to more growth in this field. All you need to do is summon your strength and courage with a strong motive and an inspirational mindset, and there you are, ready to pass with flying colors.

Entrepreneurial skills are something which can be inculcated in a person if he/she wishes to go ahead in this facet. JIMS VasantKunj is one of the best college in Delhi NCR. Ithas many clubs namely, E-cell, whose sole purpose is to enhance the skills of students to work in corporate, and to promote the idea of startups; JBIC (JIMS Business Incubation Centre)which helps to incubate the startups; JIIC (JIMS Institution Innovation Council) it safeguards the ideas and innovations of students and helps in patenting themandPrabhandan Club is another committee which tries to glorify the personality traits of individuals. JIMS VasantKunj is one of the top institutes for BBA, BCA and BaJMC courses.

WHICH SKILLS ARE REQUIRED TO BE AN ENTREPRENEUR?

  1. DREAM AND PLAN

Creative thinking must bein an entrepreneurbecause the foundation is an idea, which needs to be generated wisely. An idea decides whether the business will survive or not, if your idea is fulfilling the needs of the audience and lures them, then you are good to go, otherwise, you need to reconsider it. Dreaming big and planning accordingly is requisite for a startup. Thus, one should have the habit to generate ideas very often with an intention to achieve a goal.

  • START QUESTIONING YOURSELF

A business works only when the society supports and for this the business should act as a beneficial element for the society. An entrepreneur should ask questions to himself regarding his startup idea, like “why this idea?” “What benefits this idea provides to the society?” “Why society will notice this startup?” It helps an entrepreneur to think from the audience’s perspective, and this leads to scope for improvement.

  • DYNAMIC OUTLOOK

A business environment is full of uncertainties and thisthreatens business growth and survival in the market. An entrepreneur should know the techniques to mould his organization’s strategies, procedures, and methods according to the changes in the environment. A business can’t work with a single method throughout its tenure, and thus it needs to be modified periodically. An entrepreneur should be open to amendments required to do, for the survival of the business. A wider look is required to grow in this field. Myopia sight will not work. An entrepreneur should always be ready to act as per the requirements of the business.

  • GUIDANCE

Entrepreneurship is something which needs specialization, you can start as a raw element for sure, but you need to have the insight to get to the peak. The Hit-and-trial method does not work here. Attending webinars, conferences, listening to podcasts, and reading books (in the latter part, you will get to know about a few books which are highly recommendable for people who want to become an entrepreneur in the future). Finding someone who can guide you throughout your journey would be greatbecause it reduces the risk.

  • CONFIDENCE

Not just an entrepreneur, but every individual must have confidence. It is the core element of an individual’s personality, if you don’t have the confidence to speak out your mind, then your perspective will not be noticed by people surrounding you. For an entrepreneurit is very crucial, because he needs to make conversation with his clients and co-workers, pitch to investors, and talk about plans at public places. Lack of confidence leads to the emergence of doubt in the minds of investors and customers.

  • RISK BEARING

The bigger the risk, the higher will be the profit. Hence, an entrepreneur should have the capability to cope up with the worries and should have the courage to take risks. The risks taken by entrepreneurs are calculated wisely, and they aren’t simply for excitement and thrill. Thus, an entrepreneur should know how to manage the risk, forecast sales and profits, should not be ignorant and should analyze the aftermath beforehand.

LinkedIn is one of the best ways to establish networks with like-minded people, and specifically for people in corporate field. With this platform one can connect with people of similar interest and job titles.

READY TO GET STARTED?

 Inculcating entrepreneurial traits does not mean changing yourself, it is about enhancing the entrepreneur within yourself to excel in that field. Entrepreneurship is a trek. It requires years of sweat and dedication.

“You are a leader. You have an influence on someone, whether you are a CEO or an intern, someone’s parent or someone’s child. In one way or another, you lead to your actions.” –Dina Dwyer-Owens

BOOKS FOR THE BIBLIOPHILES

Don’t matter whether you are already in business or about to start, it is always recommendable to gain knowledge from someone else’s journey. So, here are a few books which are really amazing and one can read them to become an astute entrepreneur.

  • Think and Grow Rich by Napoleon Hill
  • The Lean Startup by Eric Ries
  • The Effective Executive by Peter Drucker

By Ms. Shaifali (Student)

Dr. Shalu Tandon (Assistant Professor-IT)

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