How to become an entrepreneur who wants to solve actual problemsMunira Rangwala
The entire world is banking on millennials to change how business is perceived and conducted in the coming years. The younger generation might be restless, but they also possess a drive like no other. Millennials are the main reason why so many startups are cropping up across the world. If it wasn't for these young minds, the idea of startups would remain just that – an idea. Today, entrepreneurs are not only driven by the motivation to earn copious amounts of money. They believe in a certain cause and start a venture to find solutions to a certain cause. For example, Sonam Wangchuk encourages his students to find solutions to real life problems like climate change. His idea of developing ice stupas was conceived to combat the problem of water scarcity in Ladakh.
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Here's how you can become an entrepreneur with the desire to solve problems.
Don't be afraid to take calculated risks
Before embarking on an all new entrepreneurial journey, you should take a step back and chart out the risks involved and the most likely outcomes of your undertaking. Make sure you intelligently plan your course of action and not make foolhardy mistakes that will deter others who want to take similar risks. Your goals should be clear and the road that will take you to your goals also needs to be intelligently mapped out before starting out. Once you've set out, don't allow doubt to plague your mind and have faith in your risk-taking abilities. You are bound to encounter setbacks on the way, but don't let minor failures stop you from reaching your goals.
Money shouldn't be the driving factor
Your first and foremost concern should be to solve the common problems that people are facing. If you want to be a problem-solving entrepreneur in the true sense, you have to be willing to fight the tide and go against popular belief. This kind of entrepreneurship requires you to keep the monetary benefits of your business a second priority. If the problem you're after isn't giving you sleepless nights, you're not doing something right. If you really believe in your project, start by raising capital for it via crowd funding initiatives.
Do whatever it takes to make your dream a reality
You might come across several challenges and setbacks in your entrepreneurial journey. Some even more so because the field you have entered is relatively new to you. There will be no books you can read in times of distress or people you can learn from in face of a threat. You will have to design your very own action plan and conquer the challenge in a way that seems fit to you. Don't be afraid to fall as success embraces only those who are loyal to it even the face of failures.
In addition to the above, hire young minds to work for you as they have a renewed thought process that can help you see things in a different way. Everyone becomes an entrepreneur to earn money, very few do it for a bigger purpose.