I think every one should give it a try. If you don't try you can't say if u r good enough and have all the skills to become entrepreneur. So have a faith in youerself and give your best shot to it. you can do it whenever you think time is right for you , Be it just after MBa or after working for some one else.
so go and try it.
I am working on the idea ifany one intrested to Invets let me know
Certainly there are pros and cons in going for either of the things i.e. a secured job option or being self employed after finishing your MBA / education in general.
If we talk about the first career option, in addition to offer security, and financial independence it also offers you things like how to work and deal with people, working in a situation which demands extra effort, working with non cooperative people and environment constraints etc. These and many other things which you might not anticipate teach you some valuable lessons. This will help you when you start your own business. You don%u2019t get these experiences in any B schools whatever renowned that might be.
So my take / suggestion would be to work for someone for some time with aims and objectives keeping in mind (and mind you don%u2019t change them) that you are going to start your own business. You are there to gather some experience and money of course. Set up a deadline and stick to it..!
To talk about cons of working for others.. You may find yourself in a role which doesn%u2019t suit your likings, skills, personality etc. Job satisfaction could be low and that might frustrate you. Your views are not taken in a right spirit and that ends up in you being ignored. You get into the habit of earning secured income. That mars your risk taking abilities slowly but surely. List goes on%u2026
Good things about working for yourself%u2026 A nice feeling, no prejudiced views%u2026rather fresh ideas and innovative approach. Early success makes you more confident and aggressive in decision making process. You enjoy financial power available at your disposal. For innovative ideas, you always don%u2019t need huge money. People know you first and then your organization. Last but not the least, you could give society in return something good and concrete assuming that as your social responsibility. One of the best things human being could ever do..
May be we should also be aware of certain things about doing business. Inexperience might cost you dearly Insecurity always demands for everything %u2018extra%u2019 (time, effort, money etc) Getting the right kind of people working for you is the key to success. Business is nothing but the people management. Your family might take a second priority. Choosing the right domain is equally important. You should know what %u2018Cut-throat competition means%u2019
After going through some of the things mentioned above%u2026.make a conscious decision and prove that you were right%u2026
RE:Make a conscious decision and prove that you were right%u2026
by SRI HARI INDUSTRIES on Jan 31, 2007 09:39 AM Permalink
Yes the key is getting the right people and your skill in people management.The only thingb that differenciates you from others is the people other things your competetors can duplicate.As far as market is concerned there is still market for kerosene lamps ! so you need not be in the forefront of technology...
In my view just after doing your MBA is the best time to start the business if you are able to do so. As still unmarried, no family obligations, makes you more dynamic to the situations and risk taking ability is more, Also if nothing works out then you can still use ur degree for a lucrative job.
RE:Enterpreneurship
by P.Simpson on Jan 31, 2007 05:37 AM Permalink
Abhishek hit it on the spot, firstly lets start with the root of each idea...going for a "job in an MNC" has been the norm for any indian corporate aspirant..which has its own due in terms of social recognition, having an office culture, getting to work on clients which you may not be able to achieve as a single entrepreneur. add to that the chance to network amongst ur industry people. having said that..at the end of the day ur still working for someone...ur thought process isacquired by the company..for example..once u work for a specific brand...ur though process is such that its shaped by the that particular brand..whether ur at home or outside or at job..u would be more keen on knowing on that product/its industry or its competitors as that is what will get youi recognition from your peers/superiors etc. Entrepreneurship is nto just a fad but we ahve very valid reasons on why it picking up. firstly the booming economy...to quantify it for common man..an average guy has more access too internet, more access to foreign companies...relatievly mroe places to go for funding and more options as back up due to plenty of jobs available in case of failure or supporting by working part time. your own enterprise is wherein u live life on your own terms, have a direct work/success ratio, ability to test ur own ideas and skills in real world...having said that one should be sure about the saleability of the idea, jus it being innovative doesnt mean it will be a good venture, maybe the market is not prepared for it yet..or its a good product or idea but doesnt make business sense. people should ideally test the water whilst working..if they have a feel and bullish about it...then that is the ebst business decision of one life...further thoughts to be added...people please respond..
Getting a lucrative Job looks nice and flashy but at the end of the day, you stick only to the KRA's!!! To jump up the ladder, your performance against KRA's matter. Whatever you do the pay pack can never be proportional to the effort you do..As an enterpreneur, you are answerable to yourself, there is a better sense of responsibilty, better returns, much more fun..there's just no limit to Efforts!!! Zillion times better learning!!!
Its very important for we Indians to re-think about the freedom we got in 1947. From that colonialism to the modern colonialism where we are now making more caretakers(or managers) than the risktaker(or decision-makers).India is now fast becoming a service slave than a creative giant. As an entrepreneur myself I feel more satisfied at the end of the day and twice more motivated for the day ahead. Its a feeling of getting ahead of the rest of the pack. Where is the competitive spirit gone of the youngsters? I would say its not just the money but a lot more to play for in this rare opportunity we all have got called 'Life'.
RE:RE:Risk-takers or Care-takers?
by Vineet Rathi on Jan 31, 2007 09:44 AM Permalink
thanks really nice to see that atleast a few people think the same as well. Vinit
If you are in your own Company it will be your sweet will to do work or not You will be your own boss..You should keep good and faithful people as your partners and employees.. However if you join a company you will be directed by your boss.. In case you are innovative and have brand new ideas then make your own comapny.. I myself have lot of ideas and dont have a company but a dot com Any body wanting to make a company In case you are your own boss then you will make your comapny.. But it si better to work some where study the market realties and then make your company.. ] Regards Mahesh nayathil http://www.maheshnbiomedical.com
RE:It depends on type of person
by devendra shah on Jan 30, 2007 07:23 PM Permalink
Hi Mahesh, I like your views & like to contact you. provide me contact number. Thanks Devendra Shah(devdamini@rediffmail.com)
Setting up own your own is difficult in the beginning, but set-up of your own has much better returns. One can achieve finanacial freedom and have an establishment in the long run. Jumping from one job to another for better pay does not make sense.
Settling for a Top job is a best option in todays competitive environment. In every decade out of every 100 new companies which start only 5 survive. Moreover if the returns from a top job are equal to the returns from a business then why should one invest his capital. For e.g. if you get paid Rs 5 crores per annum and your business would generate the same returns then why invest huge amount and take the risk. If everything goes well it is fine. But what if debtors fail to pay.
Analyse your goals and be dead sure. After all the success is all yours and the failures is all yours.
RE:top job is the best option!
by Sanjay Bhakat on Jan 30, 2007 07:02 PM Permalink
Dear Mr. Amit, Thanks for yoru comment, you have failed to keep one thing which I would like to highlight for you. When u r in top job, u work u get paid and the shareholders leverage on your efforts. In your own business, even after you are gone from this world, your leverage still works for your kids. And all your leverage works for you, Its the Ninth wonder in Universe, only if u have understood by now.
RE:top job is the best option!
by Yogi on Jan 31, 2007 01:21 AM Permalink
Mr Amit , earning money is not the only criteria in a persons life... Respect, job satifaction and freedom do have a role.. I would be happy getting 50K in my own company than feeding on 5 crocre created by someone else...
RE:RE:top job is the best option!
by ABHISHEK M K on Feb 15, 2007 02:51 AM Permalink
I agree with you Yogi.. All these year Indians were always looking at securing the monthly salary being credited to their bank account and never ever ventured to take the risk of Business, creating somthing new.. thats the reason even after having more then a billion people we dont have any Bill Gate's in our country.. In my case im currently working, but i have made up my plans to set up my own business and take all the risk..
Nothing is hotter than your brain.So you have to decide which place is hotter.The place/chair in which you are highly paid employee, where you will always be answerable and demand answer.You will have boss above you.Responsibilities are at both places, in job you can find excuse but in other place you will have have less chance for excuse.After all it is the enjoyement of your skills which will drive you in either seat.personally i wll prefer to be in the seat of entreprenuer as i am right now after quitting the job.
RE:Enterprenuer or highly paid employee
by Sanjay Bhakat on Jan 30, 2007 07:05 PM Permalink
Dear Mr. Nitin, I personally is in a good and well paying job and still I am dying to be an entrepreneur, I believe in your belief. Just that its a matter of time, when the infrastructure of my business is optimum and I quit to take her (my business) forward.
