Interested to Become an Entrepreneur?
Google defines Entrepreneur as the person who sets up a business or businesses, taking on financial risks in the hope of profit. It looks so simple in words, isn’t it?
But to become a successful entrepreneur, first, we need need to develop certain qualities. First of all, it requires hard working. No one accidentally becomes an entrepreneur, we need to develop the stamina to work hard. both mentally and physically.
“There is no such thing as an accidental Entrepreneur – it’s Deliberate, it’s Conscious and it’s Hard work” – Richard Branson (Founder of Virgin Group)
Qualities needed to become an Entrepreneur
- Motivating mind
- Open minded
- Social people Skill
- Organizational Skill
Above mentioned qualities are some of the main aspects of a good Businessman. In this leadership is an indispensable quality. There are debates going around the world for a long time that “Leaders are born not made”. Most of the people agree that leadership is a quality born with people. It is being nourished by experiences. The common definition of leadership tells leadership is about making others better by your presence and making sure that impact lasts in your absence.
Apart from this qualities, need an innovative idea which can lead to the successful startup. Not all ideas end up with a startup. Ideas can be either service oriented or profit oriented. Service providing ideas are selected by generalizing a need of a large number of people. Here, most people think ideas for a large target audience.
On the other hand, Business oriented idea want to be innovative as well as profitable when implemented. Basically, before initiating the idea, experts suggest defining the target group of people. Ideas can be declared two ways the Large amount of audience with little incomes, or Small amount of target audience with Significant income from each.
Once you got the idea it is time to form the team. This is where most of the people make mistakes. Be careful while asking people to join with you. Make sure they are reliable, supportive, active and the one who respects your vision.
Then have to validate the idea. Surveys, interviews, questionnaires are some ways to do it. Then the prototype building. After the successful build of the prototype, the idea has to be pitched in front of investors. To find investment and carry out further. Are you insane? No one going to their money to you that easily. You have to convince them to rely on you. You have to stand up and talk and make his belief, this the cup of tea he is looking for.
Once you find investment it is not the end. The real battle starts here. You have to work harder. Otherwise, your idea will also become a passing cloud. With lots of financial losses. So develop your skills and work hard. Learn from your losses. Don’t feed up when you struggle in this war.
Hey! do you want to know more about startups?. Want to develop your skills and meet investors. Involve yourself in the upcoming Startup Weekends! Need more details, let me know.