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Entrepreneurship: The New Walk of Youth

From engineers to clerks to managers to mere employees, everyone has been a victim of unemployment. 

Why are youth moving towards being entrepreneurs? 

“Bahar se koi andar na aa sake, 

Andar se koi bahar na jaa sake”

Is all what our lockdown was/is about!!

In such a phase of life where meeting people is a sin and where the youth loses their jobs,  Entrepreneurship becomes the new age business. 

What exactly does Entrepreneurship mean?

In simple words, it is, starting a new venture with creative ideas and with a will to face uncertainties in order to make profit. 

Here are some top 6 amazing yet practical tips/skills that you may require if you plan to become a successful entrepreneur:

Creativity, More Creativity, Utmost Creativity!! 

“From making an appetizing meal when you don’t know how to cook to painting an astonishing landscape when you are living in freezing garret and can’t afford a full box of pains, it’s then when creativity comes into play.”

It is the hidden key to nurture ideas and to inspire collective thinking. We often think Creativity as making something, but the root meaning of the word is “to grow”. Thus, the more creative you are, the more your business grows. The most victorious entrepreneurs use their creativity to build a product/ service which find ways around obstacles because they see them not just as a roadblock but also as an opportunity to help the society with their product/service. 

Mission leads to goals, Goals leads to Vision!! 

“A business without purpose is like a life without ambitions. Life and business, both need purpose and motivation so as to achieve the desired goal.”

Mission statements basically acts like “north star” where it provides direction that is to be followed and vision statements helps describe the future state of organization. No matter what the goal is, whether to achieve the independence or financial success or social change, M&V help you set the base steps needed to make the business dream come true. In many organizations the mission and vision statements are lumped together as one or used interchangeably despite their distinctive differences, which creates confusion and leads to low success rate. Thus, when setting these statements be very clear with the word play. 

Every Entrepreneur to Courage and Dedication – Tu hai toh i’ll be alright!!

“Courageous man is a Victorious man.”

To win the battle of business, 

To make your business grow overseas,

To achieve the unachievable, 

All you require is a little courage and will!!

Uncertainties and losses are bound to happen in a business. There might be days, where you just touch the break-even phase, days where you might face complications due to government policies, climatic change etc, days when you feel low and wish to give up on business, it’s then when your courage and dedication comes into play. Yaad rakhna hamesha- “koshish karne wale ko kabhi haar nahi hoti.”

To be Persuasive we must be trustworthy, to be trustworthy we must be truthful!!

“We trust entrepreneurs not because their vision is perfect, but because they have it under control. They communicate clearly without giving us all answers. What most people think of as vision is actually persuasion.” – Anonymous 

Persuasiveness basically means ability to convince. A persuasive entrepreneur not only is able to convince customers to buy, but also to create a strong network who are willing ready to help the organization grow. 

Top five ways to become persuasive-

  • Establish credibility: no matter how well- reasoned or logical an argument is, it won’t matter if the audience doesn’t trust the person making it.
  • All in one solution- it is important to show people that you can provide a real solution to a problem with your product/service.
  • Short and compact words- when making a point persuasively, the conversation should be expressed as compactly and in few words as possible.
  • Tell a story: whether it is a child or an adult, stories are heard more effectively than mere facts. Narrate/ convince audience by filling the gap between, what they are thinking, what they already believe and what you want them to believe. 
  • Be believe yourself: when you speak, people begin to make decisions as a result of the way you communicate. Thus, believing in yourself and having confidence is must. 

Versatility – The modern way to deal Business!!

“Versatility: the door to various opportunities.”

Evolution is meant to happen. 

Changes are meant to happen.

It depends on the ability to adapt and deal with it.

Versatility plays an important role as it is considered, A versatile entrepreneur is desirable to meet all the characteristics of an accomplished entrepreneur. An individual who holds a high degree of flexibility is a true warrior of the business battle. Versatility is assessing current ability to use an effective mix of entrepreneurial behaviors. 

Self discipline- the path from dreamer to doer!!

The word self here means, 

“It starts with you,

The journey begins with you,

It’s you, your self that decides where you stand in the modern day business.”

If you discipline yourself to do what you should do, whether you feel like or not, your victory is virtually guaranteed. The key to deal with hard times is your self discipline. It provides courage and motivation to turn bad times into good. No matter what the situation is, self discipline helps to stick to their plan. “Self discipline is a practice, a habit, a skill, a philosophy and a way of life.” – Anonyms 

Self discipline- Self mastery- Self control – Self responsibility- Self direction, are all interlinked. 

Few tips to develop self discipline:

  • Realize that self discipline needs practice: give yourself the time to develop a system that works for you. 
  • Revise the 80/20 rule: it is also called pareto principle which means that many business owners spend only 20% of time on the most important tasks and remaining 80% is spent on the trivial ones. 80% of business results comes from the 20% effort of yours. Your focus should be on 20% of tasks which comes when discipline becomes the vital part of your life. 
  • Schedule the most valuable task at the start of the day: there’s a saying, “if you have to eat two frogs, eat the ugliest one first.” which states, if you have various task for the day, start with the most difficult one, the hardest one and the most important one. 

Over 41 lakh young Indians have lost jobs due to covid-19. Growing youth unemployment is a threat to economic stability. Youth entrepreneurship is the remedy to it. According to us, if a country has young entrepreneurs, it is the rich and wealthy country. Entrepreneurs are the most valuable asset any country could have. With right tips and training these entrepreneurs can be helpful to create the most useful product/service which helps the country and the individual grow financially and professionally. Thus, we hope that the above tips/skills are useful to the people out there who are stuck whether or not to start with their own business. 

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sauhityaa@fanatisch.co
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