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There are some skills
which have always been debated to be inherent in a person’s nature like
leadership, communication skills, confidence etc. Entrepreneurship is also one
such debatable issue. One school of thought believes entrepreneurship has to be
taught and learned in management schools by pursuing professional management
courses. On the contrary, the other school of thought believes it to be
inherent or genetic or by birth. They are of the opinion that business skills
and entrepreneurship have to be in the blood.
You Need to
Have the Vision to be an Entrepreneur
By definition, entrepreneurship means setting up of a business unit and seeking
profits while undertaking risks. Logically anyone who is willing to take risks
after making some investment can be a businessman. Successful or not, is
absolutely a different side of the story. It is all about having the vision to
create value to a product or make a new product. Anuj Gupta, MD of NIFCO
International says, “The idea of setting up a new unit which can supply raw
material to the parent factory and decrease costs is always a remarkable move.
This turns out to be a wise decision economically and can help in the
nourishment of business acumen.”
Is MBA Futile?
You may now ask as to what is the utility of
having MBA campuses sprawling across acres all over the world. Is it useless if
we cannot learn entrepreneurship? The professional business management courses
hone your business acumen, nurture your leadership skills, and teach you the
relevance of time management and business etiquettes. The Director of Bicop
International, Vaibhav Gupta states that his MBA degree helps him in making
wiser decisions in his business. It helps him in dealing with the staff and
managers as well as helps him establish a better reputation with clients.
Hone Your
Leadership Skills
What needs to be learned and taken care is you
need to be punctual, quick in decision making and far-sighted to be a good
entrepreneur. The most important skill that needs to be learned and imparted in
professional colleges is leadership skills. Being an entrepreneur requires
dealing with and managing a wide range of employees. Getting work done from
people is an art and the one who masters this art can derive maximum
productivity in minimum time.
“Dealing with managers, foremen and
ground-level employees, all at the same time, is a challenge in the beginning,”
says Sakun Aggarwal, MD of Krishna Brickworks. He adds, “Gradually the essence
of leadership sinks in and the art of getting the best work out of the team
becomes possible!”
Online Courses
In case you want to acquire professional degrees to add to your knowledge bank
but do not want to waste time and money in joining professional colleges, there
are many online options available which give you theoretical as well practical
hands-down knowledge as well.
Study the Market Dynamics
To be an entrepreneur you have to make sure
that the business you are starting is at the right place and right time. If you
initiate a woollen blankets unit in summer, you’ll have to wait much longer
till the first order floats in the market.
Also, you need to be cautious of a few more factors like competition and
competitors, marketing budget, financing at lower costs and hiring an excellent
and efficient team. These factors contribute a lot to your success.
The Moral:
It’s a matter of choice you have to exercise. If you feel you have the business
knack, all you need to do is get a bit of polishing done with a few courses and
degrees, and you are sure to make a big entrepreneur. You just need to be
passionate about leading people and making it big.
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