Unleashing your inner entrepreneur: Steps to start your new Business

Introduction: What is an Entrepreneurship?

A start-up technically is any enterprise that is working on the growth, commercialization, and the creation of brand-new products, services, or mechanisms that are driven by intellectual property or new tech. Over the last two decades, the Indian start-up ecosystem has grown rapidly, and more support has become available in all dimensions.

According to government of India 2-3 start ups are born every day. By hearing and listening to everything about start-ups, we can’t stop ourselves from nurturing a new entrepreneur within us but we get scared for a minute we don’t know how we become an entrepreneur. Because after all it’s a very risky job profile.

How to become an entrepreneur? (Steps included in setting up of a startup)

To become an entrepreneur and to think like an entrepreneur that means we need to think in aspect of profit and loss. Before being entrepreneur, we need to find out a mind-blowing business idea which will fulfil the demand of today’s competitive world.

But how to finalize a business idea how we will get confidence that it will run fabulously. To be confident we need to make it in experiment and we need to do a market survey to find out our idea is fitting in the market or not? Let’s take an example of business idea of organic food product. We need to find out a statistic that how many people are willing to pay a more price for organic products for which we can sell it in small proportion to understand the demand for the same After getting confidence we need to arrange a finance from various sources. Currently government is funding through various schemes like start up India and Atmanirbhar Bharat. After that we can think of taking loan etc.

What after setting up the business? 

After starting our business we need to constantly look upon market ups and down to expand the business. Survival is the biggest challenge before any business. As our business idea expands we will face a different challenges and competition from our competitors but we need to stand out in every situation.

Risk and Entrepreneurship

The journey of entrepreneurship is not easy. It will be full of frustrations and excitement. Business isn’t a bed of roses. Where there is a profit, there will be loss and failure too. Hence we need to be more conscious hence we need to be stabilized in all the situation.

Exploitation of customers and entrepreneurs

Last but not least exploitation not work anywhere hence we need to build a business which will consider and respect social norms as well .The process of exploitation works vice versa. If we exploit our customers they will also exploit us in some other way.

The journey of entrepreneurship is not easy. From job seekers to job creators, need a lot of courage patience and hard work. These all will make A ENTREPRENEUR.

Let’s go entrepreneurs

Why wait any longer? Propel your business ideas forward and dive into a world brimming with entrepreneurs. Here, opportunities to learn abound, and the potential for success is limitless. Wishing the best of luck to our future entrepreneurs as you embark on this exciting entrepreneurial journey.

SO LEARN ABUNDANTLY AND ACHIEVE THE TRIUMPH!

References

1. https://www.statista.com/statistics/1155602/india-start-up-recognized-businesses/#:~:text=India’s%20startup%20economy%20has%20been,been%20officially%20recognized%20by%20DPIIT
2. https://www.wikipedia.org/
3. https://www.startupindia.gov.in/content/sih/en/international/go-to-market-guide/indian-startup-ecosystem.html
4. https://datarade.ai/data-products/indian-startup-data-of-over-3700-companies-salesup
5. https://www.investopedia.com/terms/e/entrepreneur.asp