You might have overheard everyone around you chatting about entrepreneurship and commencing their business. You might have yourself reflected on starting one.
Entrepreneurship is the 'fashionable' thing
to pursue in this age. Yet, several people are puzzled over what or who an
entrepreneur is.
What does it take to match one?
Is it just a businessman? Or an 'ideator'?
Can someone become an entrepreneur without
any ideas?
Are certain characters born as entrepreneurs?
Or can someone be trained to be one?
Can a specific person call themself an
entrepreneur if they do not own a corporation but is a leader and innovator in
their own space?
I get that you all are even more confused by
reading my set of questions.
What is an Entrepreneur?
An entrepreneur may be a one that formulates
a replacement business, bearing most of the jeopardies and savouring most of
the rewards. The process of fixing a business is understood as
entrepreneurship.
The entrepreneur is acknowledged as an
innovator, an expert of new ideas, welfares, services, and business procedures.
Entrepreneurs execute a vital role in any
administration, using the skills and initiative required to anticipate wants
and thus, bringing good new schemes to market.
It can be classified into little or home
businesses to multinational businesses. In economics, the surplus that an
entrepreneur makes is always in a combination with an estate, natural
resources, employment and assets.
These five traits listed below, illustrate
the description of an entrepreneur.
He is creative: An entrepreneur is a person
who is a source of new ideas, contributions, contracts, or initiatives.
He is an initiator: An entrepreneur is the
commencement of an original initiative or a business. He’s the one who determines
to build upon an idea and turn it into something bigger than just an
imaginative construct.
He takes up responsibilities: The
entrepreneur is the resolution of a venture. He’s the one who takes up the
responsibility for its achievement or failure from the start. He is the one who
handles the start-up’s growth track and pace.
He attains and develops value: An
entrepreneur is not someone who creates unique ideas but someone who transforms
the mental ideas into a relevant innovation or business. He finds the apt way
for the mental idea to grow and builds it till it modifies into something
marketable.
He takes quite normal risks: The entrepreneur
has the most important stake within the venture, both psychologically and
financially. He’s the one who’s ultimately liable for the success or failure of
the venture. This makes his job dangerous than normal jobs.
If I have to summarize it all, I would say
that these kinds of rebellious traits and steadfast determination is all
inbuilt within the minds of young blooming teens.
Yes, you read it right. This is the right age
where the teens can venture and analyse their ideas whether to bring them to
life or not. An efficient way for any civilisation to remain fashionable and
sustainable is through youth's engagement in industry and culture.
Young people, in particular, are more likely
to board a business venture in poorer places or with high rates of lay-off than
in richer places and with low rates of lay-off if thought the right values and
directed out of crimes and laziness.
Youth Entrepreneurship is a mechanism of the
mind-opening of people and societies. It adds significance to Creativity and
Innovation which solely focuses on funding human capital by improving and
nurturing the can-do attitude.
It is not only about who is having the company
start-ups, the earnings and social enterprise sectors, the human capital
increment and the quality of life. As opposed to general belief, one doesn’t
have to be associated with a startup to be an entrepreneur.
You might ask me the question, how do you
endure as a real business when you are seen as a kid?
Well, as youngsters, you are left with less
burden. No debt, responsibility etc… The risks to consider for a 'teen'
entrepreneur are extremely small in this sense.
Often a lot of the larger corporations that
are more authorised, are seeing real opposition from startups with young
originators who are have grown up with a diverse way of thinking.
As the world continues to change along with
the face of business, the mindset of the older companies is different to those
of the younger entrepreneurs.
That is where subsequent generation of youth
entrepreneurs gain a competitive advantage over larger corporations in older
industries.
Many young entrepreneurs have made it in the
past look at Mark Zuckerberg and Varun Agarwal. At a young age, they both have
established themselves to become successful entrepreneurs of all time.
But I would say that with the evolution of
the internet, entrepreneurship has loosened up for under the ’30s to be able to
take their ideas and go along with them.
The entry obstacles are so much lower and the
nature of many corporates have changed, giving young entrepreneurs the
influence in many enterprises, except for manufacturing.
I think the only aspect that is slowly
changing is the recognition of entrepreneurship as a career choice, especially
when you are young and have no experience, but you have passion and an idea.
Many parents still haven't evolved from the
mindset that we have other career options than engineers and doctors. Once they
get this into their system, entrepreneurship will bloom up to its extreme
limit.
Now a days, universities are offering
entrepreneurship courses, but we all know that it’s not just about offering a
course at university. The entrepreneurial spirit is something you have inbuilt
within you, it’s a way of thinking and it’s something you grow up with.
Starting your own business while still being
young are often daunting, but surely it’s more daunting once you are older and
potentially have more to lose.
Big steps are made and with more media
attention being placed on the likes of Mark Zuckerberg, hopefully, young
entrepreneurs can make a way bigger impact across many industries and not just
being a mere online user.
Written by – Bennet Vini.R
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