We are in the era of knowledge and speed, everyone is looking for new ideas, new ventures, new creations, new gadgets, to sum up a new world. Almost all of us have heard about people, so and so, is an entrepreneur and has started their own business. And always hearing the word entrepreneur creates the image of a person who has a very modern mindset, who is starting his or her own ventures in this world or striking or trying to mold the world in their own ways. This is to specify the real or formal definition of entrepreneurship. But to get to the root meaning we need to observe the points which are given below.
In Entrepreneurship the person (entrepreneur) is expected or supposed to create a modern business model, gather the physical and financial capital for the business, run it and is responsible for the failure or success of the business, keeping in mind the failure of a business. That is so because he is the owner of the capital, the one to invest or acquire other investors. In any case he is the one to bear the loss of business, he is a risk taker, and entrepreneurship (to elaborate) is a risk taking task. For entrepreneurship it is necessary to have convincing power and leadership attributes to run the whole business.
For entrepreneurship it is also very efficient to know well about the term Creative Destruction, which we all have heard about at some point. Creative destruction means the destruction or fading away or negligence of some companies that arise due to the lack of capital, products, innovation, etc. Because the world need innovative ideas, the ones which will be as pleasure, ease and profit giving to them as possible.
It is not always the nesseccity of entrepreneurship that one should make money fast, this should not be the goal, because entrepreneurship is not about haste, testing the waters before you take your boat in is essential. In other words entrepreneurship must not be done for making money as fast as one could but knowing what it really is. What steps must be taken to bring new-ness and modernity to the world. It is always good to find the right time, the right moment, the best opportunity to launch your model. And taking off with full boost when the opportunity arises.
Of course it is not all about waiting for the whole life but to simplify must take in consideration that they have the necessary foundation in place to capitalize on the opportunity and also must have an idea and a business model that would create opportunities in case they are finding it difficult to get the model going. And if the entrepreneur can't witness any door opening he must make a door for himself and take his boat in. And then raise his business as much as he can, take his model to the highest ranks.
Entrepreneurship is to learn to invest in people and build successful and determined staff. As Mr. Henri Foyal has narrated ''Esprit De Corps '' which means ''Team Spirit'' and he has explained how much group work is necessary for the developement and growth of an enterprises.The entrepreneur must make sure that the team is passionate, committed and most profoundly shares the vision, mission and the ideas of the founders.
Along with convincing power Execution and Delivery are also essential to learnt for entrepreneurship. Because sometimes the buyer may get the feeling that the entrepreneur is trying to convince him or her to buy a product which is untested. All in all mere talk and no execution can lead the business model to nowhere but destruction.
Indeed having the best product, good convincing power, and a decent physical and financial capital is not enough. A lot of enterprises have failed in the history because of the deficiency of execution. The gap between their ideas and execution of those ideas.
Entrepreneurship must be actualizing or trying to actualize the visionaries, if you ask any successful entrepreneur he'll swiftly say that entrepreneurship is not about making money or making profit for oneself. Instead entrepreneurship is all about expanding the business model and creating jobs and opportunities for others, be pretty concious about the prosperity of others that may arise due to the business model. Hence entrepreneurship is all about making a difference to the world and most importantly translate their imaginary venture into success.
Some very known entrepreneurs Bill Gates, Steve Jobs (late), Mark Zuckerberg, Larry Paige and Sergey Brian, what all these legendary known entrepreneurs have in common is the determination they had, a sense of mission that they were going to change their world and actualize their visions.
Finally entrepreneurship is a commencing point to transform one self and become the Legend which will bring change to the world. For this to happen entrepreneurs must be able to implore environmental, social and economic expectations of the state on a very large scale and most importantly drive themselves to the reality of their dreams.
Komal Shahbaz
https://drive.google.com/.../1Rroibp4CF6MsEGDDzfq.../view...
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