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Pune Speak Up: Stay hungry, stay foolish?

Wednesday, 30 July 2014 - 10:28am IST | Place: Pune | Agency: DNA
As India is witnessing a rising trend of entrepreneurship, institutes are guaranteeing jobs and creating entrepreneurs. dna asks experts which is a better career choice between entrepreneurship and a job

Both are very subjective matters...
A career in entrepreneurship or job is an individual choice. I don't think entrepreneurship is better than a job or vice-versa. I think entrepreneurship is a state of mind and not a position or designation. You need to identify your strengths and weaknesses to take a decision. If your strengths are self motivated, persuasive, enthusiastic, positive and can adjust to changing financial conditions – you may be suitable for entrepreneurship. If you like to follow orders, prefer financial stability, probably a job is more suitable to you. Somebody having exactly opposite strengths than I mentioned can still be successful. There is a need to evaluate your support system also. An entrepreneur will ideally need a strong family support because of the ups and downs in business. Consider a job for a woman who requires regular travelling – she will need family support. There are no rules – somebody without a strong family support can also become a successful entrepreneur. If you like stability – go for a job. If you can take risks, can cope with peer pressure – go for entrepreneurship.
Sachin Mohan Bhide, Marketing consultant to entrepreneurs

Significant opportunity in entrepreneurship...
Given the size of our country and current trend in ease of doing business, there's a significant opportunity for someone to become an entrepreneur by solving the problem around us, creating direct and indirect employment, possibly reduce import, and foster regional economic development. Some great inspirations of first generation entrepreneurship are start ups like Flipkart, Redbus, InMobi, etc that have solved problems and created job opportunities. I would strongly recommend that the students could consider entrepreneurship first, if they don't succeed they can anytime switch over to jobs.
Suhas Gopinath, CEO, Globals

Leaen from a job, apply in your business...
It is true that in today's knowledge based and IT enabled business environment, the entry barriers for starting an entrepreneurial venture are crashing. Earlier days, requirement of funds, availability of infrastructure, having knowledge of the global markets and opportunities etc were big barriers for any start up. Today with VCs and angel investors are willing to offer funding. With virtual office, cloud applications and Google and all the information available on internet, all these barriers are not very difficult to address. Entrepreneurship is lot of exertion leading to a few occasions of exhilaration. There should be a solid idea and the promoter should have the capability to create a product or service to fulfill that need. Willingness to accept the failures and keep learning till success is achieved is very critical. Experience of managing teams and motivating them to perform is also important. Students who wish to be successful entrepreneurs should first decide in what field they want to get into. Then they should take up a job in the same field without worrying about what salary they get. Use this job to learn and understand the intricacies of business, consolidate their thoughts based on this experience and then start on their own. This way their chances of success will be much higher.
Vikas Khanvelkar, MD, Designtech Systems

Won't suggest either of them...
Without employees there couldn't be an employer and without employer, there couldn't be any employee. But, looking at the Indian economic scenario, we require more entrepreneurs (than what we are able to create currently) who could identify business opportunities, convert them into profitable ventures and create jobs for others. Entrepreneurship as a career choice, is not everybody's cup of tea. The Indian social framework, unfortunately, does not appreciate the struggling and learning period of the entrepreneur. He is dumped as a failure during this period when he requires maximum encouragement and motivation. I feel that our education system is largely responsible for this. We have equated success with a job paying hefty salary, a good house and a car (of course on loan), etc. We fail to see the future value being created by the entrepreneur during his/her struggling period. If you have confidence, if you are patient, and if you don't give a damn to what people define success as and you are passionate about your ideas; then, you are the perfect candidate to qualify for entrepreneurial career path....
Pandit Mali, Director, Indira Institute of Management

Entrepreneurship should be the first choice...
There is also a new trend in some MBA schools of setting up entrepreneurship cells to encourage their students to experiment with ideas and entrepreneurship. One key quality of entrepreneurs is the willingness for 'delayed gratification'. Generally, delayed gratification is associated with resisting a smaller but more immediate reward in order to receive a potentially larger or more enduring reward later. Factors like growth of the economy, lowering of barriers, large population in consuming age bracket, exposure to global opportunities has created opportunities to become entrepreneurs. In addition to government policies turning favorable, the ecosystem of advisors, investors, incubators is developing rapidly. Organizations like TiE play a critical role in inculcating entrepreneurship in colleges and then supporting the young entrepreneurs by providing mentoring and networking opportunities. There is no better time to become entrepreneur than now.
Vishwas Mahajan, President and Lead Volunteer, TiE Pune Chapter




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