| Topic : Entrepreneurship Development in India |
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Activity:
115 views;
last activity : 07 06 2010 20:18:09 +0000
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Fear of Failure
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Lack of budget for marketing
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Find a purpose, means will follow
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Essentials for success in business
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Believe in biz idea and backup with through research
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Lack of Focus
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An unfulfilled entrepreneurial idea becomes a social stigma on the entrepreneur
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Time Mismanagement
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You shouldn't be in business and work somewhere else if you are
1) not fully aware that your business could fail 2) not willing to take risks 3) terrified of failure Failure goes in hand in hand with entrepreneurship. Fear of Failure is the biggest risk of an entrepreneurship |
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Majority of people have this tension always running in their mind. "Will I be success ?.If no, what will happen to all the money I am spending on them ?" Because of this, many people step back. But I don't think this should be made an excuse not to try since, if someone doesn't try, there is no question of his success...
Yes whatever positive point we,ll think about in very proper way but this fear factor effects a lot..for a new entrepreneur to work ..
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Most new businesses simply don't have large marketing budgets. and it should not be an excuse for not marketing. Because if you're not getting your name out there, someone else will...use non expensive marketing tools like networking. |
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Join networking groups, chambers of commerce or industry organizations for an inexpensive marketing tool. Attend events where you'll meet new people and distribute your business cards.
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If you are jumping into this cobweb only for the sake of making some money, entrepreneurship its not your cup of tea. If you have passion for this, confident about your product or services you are offering, ready to get screwed up every morning you wake-up, can sleep at night planning & analyzing your tomorrow's course of action & what you did today & most importantly, you have a definite purpose, vision, focus & persistence, just go for it, you will see all the means will follow. The only risk, in my opinion- 'DON'T EVER LOOSE YOUR PASSION.' |
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You are not suppose to start a business only b'z you have surplus money with you or you have a good product. To succeed a business, of course finance is needed but the success lies in the ability to drive a business with all the necessary support both human and technical areas by seeing the possibility of failure (risk) but with the ability to manage and overcome the same and by achieving the set target and above that.
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Entrepreneur should have a positive outlook, believe in the business idea, do a through research and evaluate risk involved. Risk increases only when above qualities are missing or points are ignored. Complete information of the business product / idea is essential, which inturn would help identify challenges, risk and threats. These would be a further guideline for evaluating risks / challenges and coping with threats. Assets / strengths can be further analysed based on the evaluation done. Thus giving a better projection of the business proposal/idea. Clarity would be essentail to cover up all the qualities. But it also important to make an attempt get in touch with existing business entrepreneur for ground level facts. |
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While starting a business the entrepreneur needs to be completely clear & focussed. All his time , money & other resource needs to deployed in accordance to his objective ( focus). THere can be many cases wherein a successful venture has gone wrong due to shift in focus. |
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An entrepreneurship journey is hard. Entry barriers are many. I have heard many who insist that an entrepreneur should persist and persevere. However his opportunity cost is much too large. He tends to lose out in the company of his peers or even more possibly the lesser amongst his peers. The biggest drawback for him is that the evaluation does not include merits of the project but his own material accomplishments. When he has spent his time, effort and money to give shape to an entrepreneurship idea, how can he be expected to show material acquisitions in proportion to the project on hand? The longer is his perseverence and persistance with the idea, the more is his risk of being looked down, in a vicious circle. There is need for some genuine, solution orietned soul searching here. |
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Time Mismanagement is another risk I see in entrepreneurship.Most the business fail within the first year because the owner couldn't get a handle on work time versus the rest of life time.Owner either spend all of their time working, or they can't quite keep themselves on a schedule.
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- Create a confidential Career Profile and Resume/C.V. online
- Get advice for planning their career and for marketing of experience and skills
- Maximize awareness of and access to the best career opportunities
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