What do they do?
Entrepreneurs are people who have an idea. It all starts with that idea or a skill which can be resourcefully used to achieve certain specific goals. They are people who wish to create something and flourish it. Rest is all a by product. The idea overall includes a business plan which requires certain resources to materialize and the untimate goal for which is somewhat bigger than just profits.
It does not require any specific qualification or skill set as such however, these can be acquired in order to enhance the knowledge and expertise of the entrepreneur.
Leadership, ownership and risk taking are the primary behavorial skills required for being an entrepreneur.
Typical day in the life of a Entrepreneur
The day of a regular entrepreneur is supposedly hectic. The pre-requisite of being an entrepreneur is being a multi-tasker. Whether the business idea is funded or not, an entrepreneur is always struggling to make all the ends meet.
The work and personal life come closer than parallel as the entrepreneur is hardly ever off-duty. Somthing or the other, from the team, clients, business and constant planning, always requires the attention. Hence, an entrepreneur can be found on a phone or laptop almost all the time.
The entrepreneur is required to be a good manager and leader at all times.
In all this, the entrepreneur has to make room for his/her own fun and leisure too.
Pros & Cons about this career
- • Success gives immense satisfaction in this field • Suitable for inventors and innovators • You can give your idea, a shape and make it reality
- • Always change oriented field • High degree of risk is there • High tension job • Dependency is high on the team, existing clients • More difficult to establish work-life balance
Skills and Education needed
Skills Needed
Behavorial Skills- Leardership, Ownership, Risk Taking, Accountability, Determination, High Emotional Quotient (EQ)
Analytical Skills- Certain analytical skills are required in order to understand and run all the aspects of the business
Legal Knowledge- In order to have start an enterprise/partnership, legal documentation is required
Communication Skills- For proposals, Pitches, dealing with customers/clients/investors
How do I get there?
This career requires a dynamic personality and character. So, there is no formal qualification that guarantees you to become an entrepreneur. But, the desire to succeed and willingness to adapt to the change is a necessity.
The return is high but it involves a high degree of risk also. The latest trend is to procure an MBA/ PGDM in Entrepreneurship before you start your own venture. A management degree on Entrepreneurship not only helps you steer towards a successful direction but, also gives you a perspective on what the market requirements really are today. With various start – ups and entrepreneurships in the market today, there is a niche job market opening up for professionals who are equipped with the correct skill set to address the demand created in the society.
Even funding for these entrepreneurships becomes easier if you have a degree to compliment your idea. Foreign funding agencies are more inclined to invest if the receiving party is educationally qualified.