Profit and Market share alone does not qualify and quantify them for the standard that they possess from an eminent institute that they belong to, we may see many of such Entrepreneurs who have come up as business giants with Simple education or nearly insignificant qualification largely.
Do this alone justify the means? (You may have your perspective on this.)
To become an entrepreneur you need not be a graduate from a top institute. If you think so, I may also request you to think of graduate scholars from prime institute each year vis-a-vis Entrepreneurs they become who are efficient in Growth journey, Sustainability, and their contribution to the society.
Let us see a few things that make that makes an entrepreneurial journey complete.
Zeal: Entrepreneur if you want to be, you need to start looking out for Problems around you and think of what you can do about it. You need to have the Zeal to undergo learning and gain insights with an open mind.
Brainstorming: Connect with the Field Experts, Peers, or thought leaders who can share ideas and experience for more Idea generation that can help you with solving a real-world problem, give back to Society and yet generate money.
Problem Identification: Once you have done with your brainstorming, chart down out fine problems that can lead to a specific Process design that helps you in Fund generation, Market Viability (for the Product or Service), Sustainability, Executable Action Plan and Scalability in the future.
Be S.M.A.R.T: Make your business idea a SOLUTION (Product or Service) that can a MEANINGFUL contribution to the user that is ADVANTAGEOUS and can help the user with RE-ACTIONABLE support that brings in utility for the long sustainable TIMELESS duration of scalability.
- Solution – Solution that your idea provides in the form of a Product or Service shall be an affiliated component for the clients business. E.g.: a Catalyst to the core business process
- Meaningful – The Solution shall provide a meaningful improvement or benefit that can be a contributor for the clients business. E.g.: a report that aids decision-making
- Advantageous – The Solution shall become provide inevitable support by its presence in the clients business. E.g.: an integral lead generation mechanism that stimulates further business by digital media integration
- Reactionable – The Solution shall bring in insights that can caution on sustainable changes that the clients’ customer makes to keep their business abreast with trends and requirement in the future. E.g.: an expected change in demand over a newly arrived model by the competitor offering
- Timeless – The Solution does not go obsolete, but shall adopt to the changes with time and scalable as well. E.g.: offer upscaling or customisation based on statutory compliances and market demands.
Believe that once you have these in place, you are almost ready for the journey of Entrepreneurship.
However, there are other Challenges, Psychological Preparation and Sacrifices that you need to think of before your venture.