Career in Entrepreneurship
Entrepreneurship can be defined as an act of starting and running your own business. The desire to be their own and have better control are the reasons one chooses to become an entrepreneur. An entrepreneur is commonly seen as an innovator who develops a new product or modifies an existing product or opens an entirely new market. He is the one who identifies an opportunity and grabs it and avails first mover advantage.
To be an entrepreneur, solving an important problem for the people is essential. You have the freedom to create your own opportunities. You need to stay committed and use your survival instincts to establish your business. The COVID-19 pandemic has turned over natural entrepreneurship, from a physical one to a digital one. It provides you the best opportunity. In the digital world, you need only an active internet connection and a phone/laptop to start your business and you have the same opportunities as everyone else. Content creation, SEO, Digital Marketing are all the aspects you can focus on to earn money. Focus on your communication skills to do better than the rest in the entrepreneurial world.
EXPERT’S GUIDE:
To enlighten us and take us in intriguing world of Entrepreneurship, we were honored to host Shri. Avelo Roy. He is a Tech Entrepreneur, 4X TEDx Speaker, a TV host, and an investor. He started his company at the young age of 19, and by the age of 22 established himself as a multi-millionaire. His company’s products and services range from consumer electronics, artificial Intelligence systems, healthcare process automation, food science, wireless communications, wearable technology, and graphical password applications.
He is the Managing Director at his startup incubator, Kolkata Ventures, which is the largest in the whole of East India, with 400+ revenue generating startups. His strong spiritual foundation plays an important role in his life choices, business decisions and the guidance he provides.
As a result of the COVID-19 pandemic, transformation to more digital economies is taking place. Mr. Roy suggests it is necessary that to be an entrepreneur, one must be an avid creator, providing products or services to the consumers. Your talent, passion and creativity can be monetized by entrepreneurship. We all have one life. Our work and our existence should excite and engage people. It is necessary that the work we do influences people.
Mr. Roy provides a special piece of advice for women and how they can and should pursue entrepreneurship. Women entrepreneurs can make the best use of this pandemic period to start their business. There are multiple Government support schemes especially for women, to begin their startup.
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Now let’s explore these types of entrepreneurs:
- Innovating Entrepreneurs: This type of entrepreneur is the one who introduces new products, new methods of production, and open new markets. Innovating entrepreneur experiments and converts attractive possibilities into practice. He is the one who introduces something new into the economy or employs a new technique of production, opens a new market, exploits a new source of raw material and reorganizes the whole enterprise. They are mostly found in advanced countries because there is a dearth of innovating entrepreneurs in underdeveloped countries due to lack of resources for experimentation and innovation.
- Adoptive Entrepreneurs: They are generally found in underdeveloped countries. Entrepreneurs of this type instead of innovating something new they just adopt the successful innovation of others. However, innovations made by others may not suit the needs of under developed countries. In such a case they make necessary changes in innovation made by innovating entrepreneurs to meet their requirements. Such entrepreneurs face lesser risks than innovating entrepreneurs.
- Fabian Entrepreneurs: These types of entrepreneur neither fall in the category of innovating entrepreneurs nor in (add the) adoptive entrepreneur category. They are very cautious people as they are rigid and fundamental in approach. They follow the footsteps of their successors. Fabian entrepreneurs are very cautious and skeptical in adopting any change. They are very lazy and shy and lack the will to adopt new techniques and methods. They initiate change only when it becomes clear that they cannot survive without doing so.
- Drone Entrepreneurs: They are characterized by their resistance to adopt and use opportunities to make changes in their products and techniques of production. They stick to conventional ideas and products. Such entrepreneurs may even suffer losses but they do not change. Drone entrepreneurs are more rigid than Fabian entrepreneurs. They close down their business but do not accept changes.
ELIGIBILITY CRITERIA:
For Undergraduate
- To pursue BBA in Entrepreneurship one needs to pass Class 12th or equivalent from a recognized board or university.
For Postgraduate:
- To pursue MBA in Entrepreneurship is Graduation from a recognized university.
- For part-time and certification courses, there is no criteria as these courses are taken up at professional level.
Skills Required:
- Adaptability
- Risk taking
- Hard work
- Self confidence
- Good communication skills
Top Government Colleges:
Private Colleges:
Job Opportunities and salaries
Some job roles are as follows:
- Small Business Owners
- Business Consultants
- Business Reporters
- Fundraisers and Development Officers
- Sales Managers
- New Venture Developers
There are many business and job opportunities for those who have completed their degree in entrepreneurship. You can start your own business in India as well as abroad.
- Job Areas
- Own business
- Job in industries
- Jobs in mid-level Management
- Accounting
- Office Administration
- Sales
- Economics
- Business Consultant
- Business Reporter
- Financial Analyst
- Marketing Manager
Salary
In this field, salaries vary depending on your work, education, experience etc. Once you make a name & fame in your business, your earnings will be beyond the limit.
Top Recruiters
Entrepreneurship as a career involves various risks. It also needs you to provide hard work and make firm decisions. You have the freedom to launch your own business or join your family’s business. After MBA in entrepreneurship several companies hire you. Depending on several aspects, you will receive variable pay:
1. Amazon
2. Deloitte
3. Apple
4. Cognizant
5. ICICI Bank
6. Accenture
7. BCG
8. Infosys
For entrepreneurship as a job, there is no fixed average salary. The way your business performs will determine how much you can earn. There is no particular limit. Your idea, passion, skills, team and work ethic will determine your gains.
Conclusion
Theoretical knowledge turns out to be limited. Entrepreneurship in real life can be very challenging. Your hard work and passion with the right guidance can definitely lead you to success. Hands-on, practical experience can provide a real world exposure. Fresher entrepreneurs can also consider taking up internships. The good working experience and knowledge exposure in the established company can help you improve your ideas and skills. The challenges the economies around the world currently face, entrepreneurship and its increased activity, will be a major solution. The economic status can be developed with increased entrepreneurial activity. As an entrepreneur, various online/offline courses, books, guidance from business educators can provide you proper and beneficial insights in your world of entrepreneurship.
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