Entrepreneurship – It’s all in the mind !

Before I begin, I would like to assure you that I am not going to simply lecture you about how awesome being an entrepreneur is – I am not one. But giving it a thought can prove to be a worth.
The liberalization, which was started in 1991, and the Information Technology boom of the mid-late 90’s, have been significant factors, leading to a wave of entrepreneurship sweeping through the country.India offers a unique incubation environment for most entrepreneurs, greatly distinguishing it from other western democracies. A country where almost 50% of the Indian population is below 35 years old, it is apparent that India has a large working class.

See, there does not exist a full proof formula to suddenly start an enterprise and turn it into success.

Must for a start up:

Basically, a startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.
Starting a new business you need three things, or at least two of them.

Innovation
Innovation is not Entrepreneurship; it is about being passionate about creating an invention or ways of doing things.As regards Google, innovation within this company is dedicated to and directed at attracting more visitors to this search engine.

Ideas

Ideas include new ways of looking at the market, new ways to apply an innovation.

For example,

• get to a market segment that was a non-consumer of that product
• maybe changing/packaging the innovation for that market
•  a very attractive design that nobody else thought about before

Entrepreneurship

It’s about making it all happen. There are many good innovations that never reach their potential market, there are even more ideas that are never realized and many of them are very good.
Entrepreneurs operate in all kinds of ways. Some see a market opportunity and draw up a business plan to take advantage of it. Others are more like the captain, driven by an inner force to start a business and unwilling to take “no” for an answer.

Either ways, entrepreneurs are strongly attached to their companies. They are more habituated talk about “their babies”!

To read more :

 James C. Collins and Jerry I Porras : Built  to Last: Successful Habits of Visionary Companies.