Entrepreneurship is a phenomenon in itself and primarily exists to deliver solutions to meet basic and advanced requirements of public at large and ensures any daily challenges are overcome for a quality life. This phenomenon is touching many of us either externally or internally. Majority of Indian population is born with exceptional entrepreneurial spirit as survival is the key for most and in absence of sufficient jobs with rest to the size of population, it is all the more low hanging choice of career. Most of the passionate and aspiring entrepreneurs ay not possess required skill sets to run a very successful business but they still succeed in many ways because of that very spirit within them.
As conscious human beings, most of us try to fix everything in our daily life either by our personalized approach or by using frugal innovations based on our experience or by imitating others, but the basic instinct of fixing things and providing solutions in all spheres is in our DNA and that determines entrepreneurship.
These days we hear many versions of entrepreneurship such as starting new business, start-ups, scaling up existing business, entrepreneurship development and what not. We see many entrepreneurs starting either some business, which already exists in the marketplace, starting similar business with a different approach or absolutely new concept as a solution to the pain area of a certain segment of clients or public at large.
I can say, we have a very strong eco-system for every type of business in India but only those businesses survive test of time, which are smart businesses started and run by smart entrepreneurs. So, who are these smart entrepreneurs?
In my opinion, smart entrepreneurs are those class of people, who have a vision with action plan, set business goals, who do research on their ideas and aspirations, develop fool-proof processes to execute new ideas, new ways of meeting customer requirements, design capabilities of developing innovative products or services for chosen segment of customers.Smart entrepreneurs adopt changes and design robust solutions ahead of customers defining their requirements. They quickly develop processes and gather competent teams to cater to those customers.
On the other side, those who haven’t yet started behaving and acting like a smart entrepreneur, in my opinion they are still in Self-Employed quadrant. It is the high time to move from this quadrant to that quadrant by taking informed action and lead a successful entrepreneurial life.
All aspiring, struggling and established entrepreneurs who are really willing to serve customers to help them overcome their pain areas and challenges cutting across various segments and maximize their potential of ideas, innovations and creativity prove to be smart entrepreneurs in this fast moving and globally competitive marketplace.
Smart entrepreneurs generally follow five major game-changing strategies and take a strong position in the marketplace and deliver products and services with highest productivity:
- Always think creative, fresh and out of box
- Design and develop solutions rather than products and services alone
- Always stay customer focused and customer friendly
- Embrace technology with baby steps and cultivate technology to deliver effectively
- Develop system and process driven approach and do not depend too much on people while developing people into human capital..
Author: Vinod K. Pandita
“Vinod is an internationally acclaimed management consultant, certified intelligent leadership coach, business coach, accredited NBI coach, master trainer, quality practitioner, motivational speaker, author and a firebrand entrepreneur. Vinod has over 25 years of experience and expertise in auditing, consulting, training and coaching small and medium businesses, large corporates, individual managers, aspiring entrepreneurs and directionless youth.
His footprints of work are in India, Middle East and North America. He understands individual and business challenges to the core and has designed simple yet powerful engagement models and service solutions for success, growth and happiness of his clients and society at large”.
He is in the making of authoring a book with title “Maximize Your Life” where he is expressing and communicating his deep thoughts and life experiences to inspire and coach masses to derive potential of Personal, Professional, Social and Spiritual quadrants of profound life of individuals towards grand success and happiness.”
Publication Date: 13th February 2019, Camp Kuwait