MIND YOUR OWN BUSINESS

Want to become an entrepreneur and be your own boss It can be truly satisfying to do so,but you must be aware of the highs as well as the pitfalls

Does running your own business excite you Do you have the drive to implement your great big idea and make it a success Welcome to the world of entrepreneurship,with its pluses and minuses.While running a business can be hugely satisfying,it can be a roller coaster ride,too.


So,who is an entrepreneur According to Jayanti Ghose,career counsellor,"An entrepreneur is someone who organises,manages and assumes risks of a business or enterprise.Anyone who runs a small,medium or large business is an entrepreneur."So,whether you run a florists shop,an online library,are into corporate gifting,do soft skills training sessions or run a pharmaceutical company producing drugs,you are an entrepreneur.

Further,"Entrepreneurship is for those who wish to be independent,to achieve something personally and also for staving off unemployment.Entrepreneurship is usually motivated by the drive to meet personal,emotional or financial needs.Entrepreneurs can come from virtually any walk of life and go down a variety of paths."

Theoretically speaking,any one can become an entrepreneur.Also,theoretically,you don't really need a formal education or an MBA to start your own business.However,it can mean your chances at success are better.

Being on your own means that you can make choices,say experts in the field.So you get a lot of control,which is empowering.A true entrepreneur looks for opportunities all the time,including during recession.

What are the plus points of being an entrepreneur In the first place,it's the independence,the opportunity to do what you want and not have to toe the line under a boss.It could also be the wealth that a successful business person can create.Additionally,it gives you immense satisfaction to know you have grown a company from scratch.Apart from the unlimited earning potential,you are the one who defines your job,you can usually schedule your own time,and you can design as well as define your own working space.

But you must also keep in mind the fact that as an employee,you receive a regular salary,you have paid holidays,leave,you get to interact with colleagues and work up the career ladder.

Being on your own means you can feel isolated,sometimes;handling all kinds of work yourself,at least initially;coping with financial and other insecurities in the initial stages;and having to put up with the highs and lows that are part and parcel of a businessman's life.

What qualities do entrepreneurs need to / usually possess 

They are self-confidence

creativity,

being positive,

being open to new ideas,

flexibility,

ability to change with altered circumstances,

being achievement-oriented,

financial discipline,

communication skills,

and being sociable,

knowledge of their field,

resourcefulness.

Article Courtesy Bangalore Mirror 06 june 2012