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Entrepreneurship As A Career

Entrepreneurship As A Career

Summary

Entrepreneurship involves designing of business idea followed by launching and running a new business. Typically, it begins as a small business, such as a startup company. The business can involve offering a product, process or service for sale. The owners of such a venture are referred as ‘entrepreneurs’. Given the pace of development in the country, positive political environment and the myriad of opportunities; draw of youth to entrepreneurship has become rather magnetic. Life of an entrepreneur is extremely challenging. One needs to be hard-working, persistent, networked, smart, creative, willing to take risks and extremely good at managing relations.
There are no specific educational requirements for becoming an entrepreneur but strong educational background and work experience makes the probability of success slightly higher. While successful entrepreneurs are generally well trained & qualified in their field; specific education qualifications can vary.

Career Opportunities as an Entrepreneur

How to Become an Entrepreneur

StreamGraduationAfter GraduationAfter Post Graduation
Path 1
Clear Class XII in Any streamPursue Graduation BBA, B.Com, BBE or any commerce related field.Pursue MBA in entrepreneurship, HR, Finance, etc.-

Important Facts

  • There is no minimum eligibility to become an entrepreneur.
  • Brilliant idea, execution skill and zeal is all that is needed.
  • A strong educational background can increase the probability of success.
  • Most top business schools in the country offer programs in Entrepreneurship and Family Business.

Leading Institutes

Top Entrepreneurship Institutes in India
CollegeLocationWebsite
IIM AhmedabadAhmedabadwww.iima.ac.in/web/pgp/programme 
IIM CalcuttaCalcuttawww.iimcal.ac.in 
Indian School of BusinessHyderabadwww.isb.edu/management-programme-for-family-business 
XLRI JamshedpurJamshedpurwww.xlri.ac.in/resources/edc.aspx 
S.P. Jain Institute of Management & ResearchMumbaiwww.spjimr.org/syb 
Narsee Monjee Institute of Management StudiesMumbaiwww.nmimssbm.org/academics/programs/mba-entrepreneurship-and-family-business 
IIM Bangalore, NSRCELBangalorewww.nsrcel.org 
Management Development Institute (MDI)Gurgaonwww.mdi.ac.in/research-and-consultancy/centers-of-excellence/center-for-entrepreneurship.html
National Institute for Entrepreneurship & Small Business DevelopmentÎľDelhiwww.niesbud.nic.in 
Entrepreneurship Development Institute of India (EDI), GandhinagarGandhinagarwww.ediindia.org 
Xavier Institute of Management & Entrepreneurship (XIME)Bangalorewww.xime.org 
Ashoka UniversitySonepatwww.ashoka.edu.in 
Top Entrepreneurship Institutes in the World
InstitutionLocationWebsite
Harvard Business SchoolBostonwww.hbs.edu/mba/the-hbs-difference/Pages/entrepreneurship-and-innovation.aspx 
University of MichiganMichiganwww.michiganross.umich.edu 
Graduate School of Stanford BusinessCaliforniawww.gsb.stanford.edu/programs/mba 
Brigham Young UniversityProvowww.home.byu.edu/home 
University of ChicagoChicagowww.chicagobooth.edu 
University of HoustonHoustonwww.bauer.uh.edu/graduate-studies 
London Business SchoolMarylebone, Londonwww.london.edu/education-and-development/entrepreneurship-summer-school#.WE4x_Pl97IU 

Important Entrance Exams

Postgraduate
InstitutionTentative DateImportant ElementsWebsite
CATDecemberNumerical aptitude, gk, vocabulary, reading comprehensionwww.iimcat.ac.in/per/g01/pub/756/ASM/WebPortal/1/index.html?756@@1@@1 
MATHeld four times a year-February, May ,September and DecemberNumerical aptitude, gk, vocabulary, reading comprehensionwww.aima.in/testing-services/mat/mat.html 
XATJanuaryNumerical aptitude, gk, vocabulary, reading comprehensionwww.xatonline.net.in 
SNAPDecemberNumerical aptitude, gk, vocabulary, reading comprehensionwww.snaptest.org
NMATOctober to DecemberNumerical aptitude, gk, vocabulary, reading comprehensionwww.nmat.org.in 
IIFTNovemberNumerical aptitude, gk, vocabulary, reading comprehensionwww.tedu.iift.ac.in/iift/index.php 

Work Description

  • Research on and recognize upcoming business opportunities
  • Develop innovative strategies to solve customer problems and create a viable business
  • Operate the business on a day to day basis overseeing details and making the organization successful
  • Liaison with investors, mentors, customers and multiple stakeholders to establish the business
  • Hire the right talent as per the requirements of the business
  • Define the organization's culture by leading as an example
  • Create publicity campaigns, social media campaigns and face-to-face events to deliver relevant message to the right audience
  • Develop value and efficiency by streamlining systems and procedures

Pros & Cons of a Career in Entrepreneurship

Pros
  • Your business gives you flexibility to choose the work you want to do and utilize your strengthens to maximum.
  • Can schedule your work hours according your convenience.
  • Seeing your business grow will give you a feeling of satisfaction.
Cons
  • In the initial years it might be required to work for longer hours.
  • As the work is your responsibility, there can be stressful days as well.
  • Starting your business involves risk.

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