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by Rajen Kumar
No Escaping Social Media
Running a magazine concentrating on issues of small and medium enterprises and managing with limited resources is a like living life on the edge. In this rush of meeting deadlines,...
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Special Reports
Apr 2012EMRC, Brussels Associates with SME WORLD as its New Media Partner
EMRC has promoted business partnerships with the developing world and has organised dozens of business forums in key decision-making cities, such as Amsterdam, Rome,...
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Special Reports
Give Business a Chance - Bring out the Entrepreneur in you
Taslima Khan
Feb 2009
Feb 2009
Page 1 of 4
You must have had a fire in your belly some day. When you were shouted upon by your boss for all the wrong reasons. When you had no time to spare for an ailing relative. When you had been loyal to your company and were among the best performers but were denied a pay hike. When your friend called up one day telling you how he lost his lob as a consequence of the cost cutting drive of his company. Every time you wondered if you had your own business, your life would have been easier, merrier, better.
For the faint hearted, entrepreneurship may be a high-risk proposition coupled with a high opportunity cost. For some, unavailability of funds and the absence of business know-how is the main dampener. However a recent survey conducted by Synovate, a market research company brings out some startling facts. Among the 1006 salaried individuals interviewed across the length and breadth of the country 69% respondents dream of running their own enterprise. 51% already have a business idea. 91% of respondents with a business idea said that given the requisite funding and an opportunity to nurture their idea with a mentor they would turn an entrepreneur. This revelation leaves one with little doubt that India, the world's youngest democracy is over brimming with the entrepreneurial energy.
It is just that only a few finally move out of their comfort zones to take up the challenge.
The right ingredients:
Being an entrepreneur gives you:
Self-esteem boost. You are your own boss.
Discretion to divide your time for personal and professional commitments.
Immunity from the pink slip or from being framed for the wrong reasons.
Freedom to expand and grow at your own pace, rather than wait for years for a promotion.
Raise in stature from being an employee to an employer.
The CEO of GE, on a visit to India once remarked, 'China has the best infrastructure among developing countries, a lousy legal framework, and poor entrepreneurship. India has poor infrastructure, a slow and tedious but dependable legal system but the entrepreneurs here are the best in the world.
According to Phillips Anderson, a professor of entrepreneurship, it is much easier to start a business in California than in India. Indian entrepreneurs are unusually tough since they face numerous obstacles. Over the time they get seasoned to develop ways to adapt swiftly to the call of the times. In the long run, adaptive capacity matters more than having a bright initial idea. This is where an Indian entrepreneur has got an edge over his global counterparts.
SME WORLD brings you face to face with individuals to let you know how they brought out the extraordinary entrepreneur in them.
'When an Idea keeps you awake' -Ajay Sanghani
If an ingenious idea has tickled your entrepreneurial streak for long, don't wait for the right time to come. 'The right time to start an enterprise is when you have a compelling idea that keeps you awake through the night', says Ajay Sanghani, India Founder of ITVidya.com and Partner at OpenTeams.com based in USA.
ITVidya.com is a tech community platform empowering members to create wealth through Knowledge.'
When you are in the company of a team which is ready to pursue an idea and make it work, then is the time to pull out the stops and go ahead,' adds Ajay with a spark in his eyes.
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More Learned than Educated, You were!
I was speechless. Rather hesitatingly I asked him, “So, what have you decided, Sominder ?” His reply was curt and candid, “I have told the doctors that I don’t want to live life as dumb. Only...
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