Want To Become A Successful Entrepreneur?
India’s youth is gradually taking the entrepreneurial route as India now ranks 3rd among the world's largest startup hubs!
Nasscom as per a report in 2018 had said that the Indian start up economy witnessed a 108% growth in total funding. In a NASSCOM-Zinnov report, India ranks 3rd in the world after US and UK among the world’s largest startup hubs.
In the last two years, 50% growth in advance tech startups has been witnessed. Bangalore alone had 1200 startups come up in the city in 2018 only.
This proves that India’s youth is gradually taking the entrepreneurial route.
Jarod Kintz, in his book, ‘The Book Is Not For Sale’ has compared a startup with a flower. He wrote, “A startup is as fragile as a flower and it needs a garden and a gardener to help it grow. Those gardens are called Business Incubators”. As per him, an entrepreneur should play the role of a business incubator to help the flower bloom.
To help these budding entrepreneurs and also create more leaders in the world of business many courses in entrepreneurship have been designed in various business schools, colleges and universities.
Pradip Chopra, Chairman of PS Group and iLEAD College, has started one of the Entrepreneurship courses in Kolkata, for those who want to become employers instead of employees. He stressed on the fact that India needs more job providers now to deal with the menace of unemployment in the country.
As a teacher, businessman and educationist, Mr. Chopra also structured the BBA in Entrepreneurship course that is conducted under the University Of Maulana Abul Kalam Azad University Of Kolkata.
He said, “Because of demographic dividends, India today has 600 million young people who are looking for jobs. No country can provide these kinds of jobs and therefore, our country currently needs more job providers than job seekers. Today, because of the technological development and breakthroughs, most of the existing business are getting disrupted by disruptive technology. That’s a chance for the newcomers to come and capture. These days we see students or guys of 18 years age having companies that’s worth a billion dollar. Indians have done fairly well not only in India but also abroad in creating companies which are worth billions of dollars with their out of the box creative and innovative thinking. iLEAD’s entrepreneurship course will handhold you to become an entrepreneur even if you are a first generation entrepreneur. The whole course module is scheduled in such a way that after finishing each semester you earn proficiency in one part of business. So that you become self-employed and are ready to work right after the 1st semester”.
These courses on entrepreneurship guide students to understand the framework of business, boost their confidence, procure funds for investment, deal with government regulations and most importantly, realize the untapped market or consumer needs to reach the right customers.
Entrepreneurship degree programs are also taught in IIMs, Amity Business School, Delhi Business School, D.Y Patil College (Mumbai University) and more.
The BBA in Entrepreneurship program under MAKAUT and other universities in general have the following features –
- Case studies
- Inspirational stories of self-made business tycoons
- Common traits of businessman and entrepreneurs
- How to have a mindset of a businessman
- Exploring small business
- Ideating on business which could be started with minimum or no capital
- Considering franchise businesses and replication of successful business models from other parts of the country
- Ways to identify new business ideas and opportunities based on solutions to local problems
- How to validate a business idea, importance of SWOT analysis.
- Risk perception and its mitigation. Refining and updating the initial idea to reduce risk and make the value proportion to the customers.
- Types of organisations for conducting business. Taxes and market perception.
- Business regulatory framework and the types of registrations required for different kinds of businesses.
- Research methodology used by startups for validation
- Requirements to start a business. Conversion of a business idea to a business plan.
- Creating project reports, implementation timeline and road map.
- Financial planning and cash flow projections. Exploring various sources of finance, government incentives and other benefits for startups.
- Using market research to plan an effective marketing strategy including planning for ads and PR for business launch and regular promotion.
- Websites and other ways of online presence and taking advantage of e-commerce. Ensuring cyber security.
- Using guerilla marketing and promoting strategies. Analysing various case studies and finding replicable ideas to be implemented on regular basis.
- Using PR and Events to build brand loyalties.
- Establishing ‘process driven business’.
- Automation through use of technology.
- ERP driven business, generation of MIS reports and its importance in decision making.
- Strategies to get high credit rating through efficient financial management reduction in cost of borrowing.
If you have aspirations to become an entrepreneur you can surely consider enrolling into a degree course with entrepreneurship major to enhance your knowledge and inspire yourself before emerging out as a successful business leader.