Its been almost 2 months since I took my first step in my dream to become a successful entrepreneur. I knew it was coming, I knew I had to take the step at some time, but it just got catalyzed thanks to the same dream shared by two friends of mine from college. Everything is steady now, and I will keep everyone updated about our venture from time to time.
This is my theory for future of entrepreneurship in India. ( Yes, now I have changed my specialization from writing on 'philisophy' to 'entrepreneurship' . Or actually , now its both ! ) I think with increase in job opportunities in India, more and more people will be inclined to take the path of becoming an entrepreneur .Kind of paradox , isn't it ?
Let me explain ... First of All, the main ingredient for becoming an entrepreneur is your risk-taking ability. It all comes down to how ready are you to take a risk - calculated risk or not.Your every step and decision in your entrepreneurial life will be associated with risk, which will have an impact not only on yourself, but many other people that are associated with your venture.
So, my theory is , when people have more job opportunities, and when they see that situation is not going to be that bad in future , in terms of getting a job, people ( I mean students and population under 30 ) will be ready to take risk and opt for becoming an entrepreneur. I mean at least those who wanted to do this from a long time, or who wanted to take a bit of risk, might start doing it now. Because they know that even if the venture fails or if they don't succeed, they still have the safer option of doing a job in future.
When people don't have jobs , they start feeling insecure. There is tremendous pressure , specially on students from lower and upper middle-class families, to get a job and sustain the family.Hence people stop taking risks. They start looking for alternatives, like doing post-graduation , just so that they can get a job after doing post-grad. They feel more pressurized to take up a job.
The other day , I met one senior from our college, who is about to start his MBA this June 2007 .After talking to him for sometime, he expressed his ambition to start a venture, but as he got into a good college , he postponed his step , and might do it after doing MBA.
Recently , more and more IIM-A ad IIM-B students are opting for starting their own venture. Many of the students are not even sitting for campus placements. They know that this is the time to take the step. They are sure that even if it doesn't work, the job situation in India is getting better, and will improve for some years down the lane.
Everyone have their own reasons to take the step. Some have a burning passion to do it, some want to just try it , and others do it for necessity. But I feel this is the right time to take the step. So why not take the risk, won't it be worth trying ?
Anyways, this is my theory, and criticism is always welcome. More blogs on entrepreneurship coming soon !