Entrepreneurship in India: Break the shackles and hit the bull’s eye

Dost Coach brings some out of the box advice for budding entrepreneurs before they set out in the big bad corporate world searching their own fortune!

A ten-to-five job has never enticed Srikant who had set his sight high in owing his own company that works on his own business model. Even being a science student his interests were strictly towards sales and marketing and would bring sponsorship easily to college events. That is when he decided to ditch his basic lab assistant job for starting his own enterprise with a friend who was impregnated with amazing ideas. st Coa


Dost Coach brings some out of the box advice for budding entrepreneurs before they set out in the big bad corporate world searching their own fortune!


 



India is studded with geniuses who started their business with a penny and are one of the richest people the globe, it just needs a great idea and some earnest effort, a strong determination to come out of the comfort zone to strike the right cord in building a successful business model.


The Indian government has gradually recognized the importance of entrepreneurship in empowering the Indian youth to a great future and launched the programs like the Start-up India and Make in India with an aim to celebrate the entrepreneurial spirit.  It is the best time than ever before to start a business in India and to be a successful entrepreneur because these programs have also opened the doors to countless opportunities for startups.  


When startups take off, commonly they require planning, a lot of hard work, a right amount of money, resources, patience, dedication and a lot more. There are few challenges that need to consider at the initial stage so that entrepreneurs can prepare themselves for challenges before they lead to unexpected failure:


Funding; the trouble monger
Even with many government schemes and angel investors, the funding scenario is still in nascent stage in India. When entrepreneurs ask for funding, they need to follow a complicated process and often the whims and fancies of the investor who try to carve out the business model to their advantage. That is when potential business ideas take their last breath.


 Big Cities get all the facilities
Only metropolitan cities have the right infrastructure to harness a startup eco system. Apart from cities like Bangalore, Delhi, Bangalore, Pune and Chennai there are very few resources that are actually working toward strengthening the startup ecosystem, where, the tier II and Tier III cities are the ones that are in need of new business unit creating employment facilities.


 Timing a maker or breaker
It is a coming saying, that timing can determine the fate of a person! Many entrepreneurs fail because they launch their idea at the wrong time.  The extensive market study is required before launching any business idea and staying afloat.


The Great Indian Orthodox Society
Indian middle-class society is bent towards having a good degree, a decent and stable job and god retirement saving. What if someone from a middle-class family in India tells that he or she is opting of starting own business after quitting a high salary job or do not want to go for engineering or doctoral studies? The family naturally discourages and many budding entrepreneurs lose their enthusiasm even before their flights taking off.  

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