The global economy and its evolution
which is often discussed about these days are largely due to the
culmination of the random dynamics of many enterprises of different
sizes that keep transitioning each moment. The impact of decisions and
strategies of larger organizations and conglomerates is much more
resounding and visible but “things” actually move due to the numerous
entrepreneurial ventures that serve as cog in the wheel of economy.
Hence, SMEs being the backbone of economy is not merely a figure of
speech but raw fact.
The point here is that there is a
strong need for entrepreneurs and start-ups. There are huge gaps and
demands to be fulfilled which crop up regularly. Often one particular
offering gives rise to ten other gaps to be met. For example: The
telecom industry gave rise to mobile phones which led to need (but not
limited to) for mobile apps, content, security software, data storage
and technology to share mobile content like pictures and video over
Internet. There isn't lack of ideas or entrepreneurial zeal in
individuals but the challenge remains in making them marketable and
execute with precision. The present generation is better educated and
more eager to start on their own rather than join other companies. The
rapid rise in students from premier institutes nixing tempting job
offers in favor of setting up their own ventures is clearly on the rise
and poses a promising future for entrepreneurship in India.
Everyone starts small at one point in
time but how do they manage to scale-up and create an empire.
Rockefeller, Vanderbilt, Jobs, Ford, Gates, Ambani, Tatas and the Birlas
all started as fresh entrepreneurs at some stage and steadily made it
big. No doubt that many agencies both government, private and
non-government organizations are trying numerous intervention programs
to create positive impetus to foster entrepreneurial drive among
individuals to nurture many more such achievers and of course strengthen
the economy.
The point of concern here is how to
make the entrepreneurial development initiatives productive and
outcome-oriented. In order to construct a program that yields
quantifiable results, we have to understand two fundamental aspects –
the traits that help the premise of entrepreneurship thrive in a person
and what support they need as budding entrepreneurs to bloom.
Published in SME WORLD June 2012 Issue
Click Here
