March 31, 2010

My first love with Entrepreneurship

Posted in Business, General tagged , , , at 11:51 am by asprakash

It is not so pain. But ofcourse, pain is the pain. Here I would like to share my thoughts and feelings about the term “Entrepreneurship” and obviously how is my entrepreneurship life is going on.

What is Entrepreneurship

Well, I am not going to explain about it here. Please refer this nice wikipage here. But from my point of view apart from the business and money, the entrepreneurship is one who creates the future for others. In detail, he/she creates good career & job opportunity for people belongs to him, he/she creates economic growth for a country, technology promotions,.etc.

My entrepreneurship life

My star-up is I have just less than 6 months experience in my entrepreneurship life.  But I already invested around 2 years of my time to my start-up company. There were so many +ve and -ve suggestions got from my well wishers/friends/parents/ when I planed to start-up my own company. My friends advised me to join a MNC and earn money first and then start-up a company. My parents much worried about my horoscope(?)! and so many etc etc suggestions. Ofcourse, few of them encouraged me to go ahead. Some of the over confidence suggestions are, “If you cant, then who will”… ;).

I have my own dreams; my own ambitions and targets. Now planing to achieve my target and take my steps one by one confidently and carefully. Till now, many steps already taken and those steps finished in failure. The terms “failure” is not an word to hate in our life. But it must be observed by everybody; Know our failures and correct it later. So that a person can able to achieve an target. Nobody in this world directly  jump to the target in a single step/try. Step by step progress is always safer and provides more experience to avoid failure in future.

Somebody said, now I am a Business man. Business and Entrepreneurship differs from some other way. A independent person can do business and earn money. For example, running a shop, hotel,.etc. However, Entrepreneur is also doing business. But he creates career for others and he is used to invest the earning money into new business opportunity and so on.

If you are working in Infosys, Micrsoft, CTS, TCS,.etc and earning few laks per annum, do you think when your company founded, it was started from a big Tidel park in a central heart city? Do you think, your company CEO, early met your clients traveling by flight? Do you think, when your company founded, the employee’s strenght was around 10,000? Do you think, when your company founded, all the employees got nice salary like you?. There are so many good MNC companies (HCL, Infosys,.etc)started from an single room and they used bike to met their clients.

I am also in the same position to preparing the strong foundation and providing best career opportunity for my employees in future.

There are around 2998 engineering colleges are available in India and ~5 laks  fresh engineers (I did not calculated other degree holders. If so, then the numbers will be more per year!)are come-out every year. Practically, It is not possible to provide the job opportunity for all the engineers by those CTC,TCS,Infosys,.etc companies. And if everybody wants to work with a company, then who will create the job opportunity?. As my favorite  Dr.Abdul Kalam said, “Indian engineers wants to create the job opportunity instead of like to work with someone”. Due to lack of support for new entrepreneurs, from friends, home, relations, Governments and Government policies  I am not sure, when it will happened and how it will happened.

Output of Entrepreneurship

Once I started my own company, many of my well wishers now expected some output from me. I am not sure, what they are mean by “Output”. They are thinking like, once we started our own company, then we can immediately earn Crores & Crores. It is so funny!. If this is true and easy, then why the people are want to join with a company and why they should not start-up their own?. And few others thinking like, once we open a company ( like shop?), then we can start earning money automatically. Obviously, running a enterprise is not like an shop/store and earn 2 times of money at evening when we invested some money at morning. We need to put more efforts, hardwork and most important one is patient. Finally the endurance. I guess, it will take to earn money by an start-up company minimum upto first 6 months and based on the services/products.

As per my concern, running a enterprise at this economic down situation, we need to put infinite hardwork, patient, endurance, time, confidence and obviously money. There is no use of starting a company with missing of any one from the above.

My entrepreneurship experience and suggestions for young entrepreneurs

  • Rest :: Now a days my sleeping time is less than 6 hours. I guess, it will decreased more in future. But maintain your sleeping hours atleast 6.
  • Time & Friends :: Not possible to spend time for chat with friends, movies, outing, roaming,.etc. Need to avoid these activities. If you feel, you cant ignore anybody, then talk with your friends and explain about it. They will understand you.
  • Time & Girl friends :: One of the main reason, why the guys are wasting their time is, girl friends!. You must keep it in mind that, your time is so valuable. Do not waste much time with girl friends through by Phone, Chat, roaming,.etc. WARNING!. You are very near to the door, “Failure”.
  • Depression :: You will get more depression these days. Bcoz most people will reject you : customers, investors, employees you try to hire, organizers of startup showcases. You have to keep looking for the ones who will accept you.
  • Failure :: Dont bother about the failure and dont afraid. Learn the failure and accept the failure. If you failed 20 times; 50 times; 100 times. Try again & again. One day “failure” will get bored and run away!.
  • Time & Relatives:: Do not waste much time to visit your relatives home, relatives functions,.etc. Convey your regards over by phone. Any important functions, you may consider. It may helpful for you to refresh yourself.
  • Bankers :: You will be rejected to get an Credit card, account from an Bank,.etc. Dont worry. They will comeback to you surely, later.
  • Advise :: You will get more advise from your relatives to search a good job and earn money. So that you will get a good alliance. Do not consider this kind of advice. Once you succeeded, then they will tell you, “Yes, I know on the first day itself, you will become a millionaire”.
  • Employee’s risk :: Retaining employees is an crucial task. Its upto you, how you are going to handle. You may consider like, offering employee benefits, bonds, salary hike,.etc.
  • No Holidays! :: You dont want any holidays these days. Either work from your room/home or from office. Having a USB data card will help you to work with internet at any time from any where.
  • Quick response :: You must provide proper response to your customers and every one of your customer is highest priority to you.
  • Finally, absorb all your pain; learn it; try it again and again. Success is very near to you.

Last but not least, Do not forgot that, you are not going to build your career; But you are also going to build  the entire career for thousands of your future employees. I wish you all the best. Here I would like to share a poet.

தெய்வத்தால் ஆகாதெனினும் முயற்சி தன்
மெய்வருத்த கூலி தரும்.

Meaning of the above poet :: Suppose the god cant help you in certain case; But your hardwork will help you to get the credits.