Entrepreneurship as a career

An entrepreneur puts his career and financial security at stake for an idea, spending his time and capital in an uncertain venture. Another view of entrepreneurship is that it is the process of discovering, evaluating and exploiting opportunities.

At this juncture, entrepreneurship is a viable option to look at. The economy is vibrant, the market is receptive and there are institutions to support would-be entrepreneurs.

“The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it” Debbi Fields.

It is interesting to note that interest in entrepreneurship is growing at the education level itself. Some of the leading colleges have entrepreneurship cells which encourage students to come up with ideas. The B-schools of India, both top-rung institutions such as the Indian Institutes of Management and private management colleges offer electives in entrepreneurship, besides having full-fledged entrepreneurship centres.

Financial support is crucial for creative ideas to see the light of the day and bank loans, venture capital, angel funding, etc, are some of the ways to raise capital. A number of dedicated institutions have come up to nurture innovative ideas for commercial success. Specialised government agencies, business incubators, technology parks and even some NGOs support them.

Supportive agencies

Entrepreneurship Development Institute of India, Ahmedabad.

Maharashtra Centre for Entrepreneurship Development, Aurangabad.

NirmaLabs, Ahmedabad.

The Indus Entrepreneurs (TiE), Bangalore.

Rural Innovations Network, Chennai.

VIT-Technology Business Incubator, Vellore.

Euro Incubator, Bangalore.

IIT Delhi-Technology Business Incubator, New Delhi.

Advanced Materials Technology Incubator, Hyderabad.

Kresit Business Incubator, Mumbai.

SJCE-STEP Technology Business Incubator, Mysore.

TBI@KEC, Erode.

TREC STEP Business Incubator, Trichy.

Home-made careers

An integral part of being on one’s own is home-based careers.

Let us look at what are the different kinds of home operations.

Home-based business: If you start a business and would like to operate without many overheads, your home is the best place. You could either be self-employed selling a product or service or you could be an agent selling someone else’s products. For instance, all the Tupperware, Oriflame and Avon products are sold by women who act as direct selling agents (DSAs) for these companies.

Freelancing/consulting: Usually freelancers are creative people who offer their expertise for a price. For instance, writers, photographers, multimedia specialists, designers, etc.

Work at home opportunities:

Content creation.

Writing services.

Online advertising.

Web design.

Consultancy.

Event planning.

Transcription.

Back-office.

Translation.

Data entry.

Design.

Training.

Travel.

Financial services.

Real estate.

Catering services.

In addition, one could make an array of artifacts at home and sell it to willing customers. In fact, home-based working is now a preferred mode for many young mothers. However, one must remember that there are many disadvantages of working out of home and it takes a certain temperament to succeed in such an atmosphere.

Organisations tend to have their procedures and this framework is easy for employees to abide by. But if you are on your own, you have to create the ground rules yourself. There is neither policing nor appreciation; so you need to be a self-starter, play multiple roles and manage your time efficiently. You would also need a conducive workspace and essential office equipment.

What it takes to be a home-based career specialist

Discipline.

Efficient time management skills.

lSelf-motivation.

lRealistic expectations of name, fame and money.

Ability to market yourself.

Ability to handle other support issues.

Beware of the fakes

One word of caution, though. Don’t get fooled by advertisements which promise you loads of money. There are as many illegitimate opportunities as there are genuine ones and you must be very careful.

TeamLease Services Private Ltd — Permanent Staffing Business Unit
Website: www.teamlease.com