Just Completed Your Education. Now Looking for a Work opportunity. Want to join a big Corporate or to Start Your Own Business and become a Entrepreneur.
Today’s Entrepreneur and Entrepreneurship is a buzzword for India’s youth passing out from Colleges and Technical/ Management Institutes. These young guys have unique ideas and want to start their own business and to create their own business identity, instead of working for others. A Start-Up boom is prevailing in India which may catapult into making India the World’s top economy.
Not only Idea but proper execution on Idea is important to make it a business reality. Some Mantras which every entrepreneur and start-up must follow:
1. HUNT FOR YOUR BUSINESS MENTOR
Every Entrepreneur should find out a Business Mentor, a person who has already crossed the road of successful entrepreneurship. Your Mentor may be a friend, relative, your ex-boss or a reliable consultant.
2. EXPLORE YOUR BUSINESS IDEA
Before going further, entrepreneur should invest his time in deeply exploring his idea in understanding the Market potential, availability of resources, competition and right time framework before going further.
3. KNOW YOUR USP
USP means Unique Selling Proposition which is a factor that differentiates a product from its competitors. What You have which your competitor don’t have. Find out your USP. It may be your quality, service orientation or anything else.
4. CHOOSE YOUR BUSINESS ENTITY
Compare the features of different business entities and select which suits you. Selection of right kind of business organization will lead to optimization of resources at the later stage. A Private Limited Company or a One Person Company or a LLP are some of the business structures.
A intelligent financial plan for setting up and running up of your venture is a must. Search for the best sources available in the market to raise finances to meet the business Capital Investment and routine expenses. Poor financial planning may hamper the prospects.
6. LOOK FOR THE INDUSTRY SUPPORTS AVAILABLE
There may be financial, technical and other forms of support in the form of subsidies, incentives, consultancy for your venture. Ignoring them may deny you advantages which you could have availed.