Everyone knows Narayan Murthy as the man behind the most talked about name in the IT industry-INFOSYS. However, very few know that before the great industrialist embarked on his phenomenal journey as an entrepreneur, he had met with failure in the form of Softronics in 1976; his maiden entrepreneurial venture. Still, he carried on with his mission and came up with flying colours in the end. Today, he is the most sought after role model for engineers who want to take up entrepreneurship as career.
In the past few years, the entrepreneurial bug has bitten Indian engineers too. Globalisation has made them realize the immense prospects hidden in such ventures. The freedom and pride associated with the profession has led to quite a few startups too. They are still in their early phases and it will take time before they become a common career choice. However, growth is sure to follow. In a recent survey conducted by the Deloitte group, India ranked 2nd globally as home to the fastest growing technology firms.
Entrepreneurship, to put in simple terms, is organizing your ideas so that it can take the shape of a business venture. It is your own platform where you bring in all the factors necessary to run your business, through your own skills. The exercise requires you to have certain basic qualities that include passion, motivation, foresightedness and most importantly the ability to take risks.
The upside of being an entrepreneur is that you are free to work as you desire. Each day brings excitement and challenges. Besides, you can reap optimum benefits of your hard work. The profits will be proportionate to the amount of hard work you will put in; a job gives you a fixed paycheck, no matter how hard you work. There is no pressure from any superior; you don’t have to report to a boss.
The downside comes with the missing security of a paycheck. You are free to take decisions but then you are accountable for them too. It can be quite stressful. Though an entrepreneur does not have to work in a stipulated time schedule, the initial phase of a startup is quite taxing. You may have to put extraordinary long hours while setting your business. The most important and clichéd part; a venture can fail at any time. You must be strong enough to shoulder this risk.
So, if you are passionate about your ideas that may be chalked out into business plans, the best advice that you can find is here. Don’t seek a job, become an entrepreneur and create jobs for others.