Starting-up to Leading – Entrepreneurship in the Digital Age
83% of the Indian workforce prefers to be entrepreneurs as compared to the global statistics of 53%. This survey by Randstad Workmonitor hints at the far-flung possibilities that the robust Indian economy sprouts for the millennial’s. There is an opportunity waiting to be grasped & an idea craving to shape into fruitful results.
We are at an age where being an entrepreneur or becoming one is the easiest as well as the most difficult affair. While the competition is fierce, on the other hand the market is also brimming with untapped opportunities. A lot can be credited to the rising technology that is paving its way into our lives in a most indispensable manner. Numerous start-ups have been borne with the advancement of technology and businesses are soaring greater heights due to rapid and significant innovation. Fast paced digital era is the catalyst escalating the need for rising entrepreneurs. A few decades ago, when digital wasn’t a well-conceptualised medium, the choices and access towards innovation was indeed limited. Now, the tables have turned. Internet has made entrepreneurship accessible and an exciting venture. Wheels of productivity are churning like the speed of light surpassing all the hindrances. If one desires to on-board the wagon, there are certain things that should be the stepping stones towards success. Sharing a few leanings that I have imbibed during the course of my entrepreneurship:
- Planning should be followed by concrete action
An idea can be breathtaking, but it needs to be exercised to convert into a business plan. No matter how innovative the idea is, if it doesn’t materialise, it has no value. Whether it will stand the test of time and emerge successful cannot be predicted but shaping the budding idea is the first step that needs to be taken by the aspiring entrepreneurs. No one ever became a businessman by simply dreaming of becoming one.
- Adhere to long-term goals not long-term strategies
Keeping in mind the digital domination, it is imperative to keep adapting to the rapidly evolving technology and working upon flexible strategies instead of stringent ones. When everything changes within the blink of an eye and spreads like fire, the planning and strategy must also change accordingly. However, the long-term goals should remain constant with certain alterations and exceptions in play.
- Don’t be afraid of the change
The business, employees, market conditions, workplace etc. will change on constant basis. There could be difficult times for the business or flourishing times, the employees will on-board and quit, there will be profit but also loss. Even after this constant cycle of change, one must not halt at any given time instead emerge out of the turbulence in a dignified and victorious manner.
- Seek advice
What might come across as a plain jane way of learning is actually a significant part of our growth process. Seeking advice from the experts plus keeping your critic’s verdict up your sleeve is a habit one must adhere to. Not only does it open mind for newer ideas to sweep in but also acquaints us with varied perspectives and opinions through their experiences and teachings. However, following the other’s advice is up to one’s discretion whether they want to implement it or not.
- Finances should be on your tip
No matter how occupied you are, being an entrepreneur, you must keep a watch on the finances of the organisation like a hawk. Being aware of every transaction lets you have everything in control and gives you accurate idea of profits and losses. A close track of your finances is an imperative part of any organisation.
India is changing from being a land of business men to now budding entrepreneurs. For us to elevate our brand’s presence in the monopolistic market, we need to up the ante and pounce at every opportunity with utmost intelligence and awareness about the future.