How Hard is Entrepreneurship Really By Manisha Rewani

How Hard is Entrepreneurship Really?

By Manisha Rewani

Entrepreneurship

Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.

In economics, entrepreneurship connected with land, labor, natural resources and capital can generate a profit. The entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part of a nation’s capacity to succeed in an ever-changing and more competitive global marketplace.

 

Why Entrepreneurship is so Hard

There are no simple rules or a checklist that can ensure your success as an entrepreneur. It’s tough to capture the nuances of running a business. But here are some tips: -

• Building a business is a marathon, not a sprint. It needs patience, consistency, and momentum each day.

• Know that it’s okay to not have all the answers. It’s okay to ask for help.

• Founders need to find their balance and learn how to stay grounded. Things will get out whack and there is only so much you can do to exercise control.

• If you feel stuck or you’re lost or confused, always go back to your “why” to help you get back on track.

If someone asked me what the hardest part about being an entrepreneur is, I would say making decisions and knowing when I am right or when I am wrong. Each day in our businesses, we are forced to make decisions on market conditions, prices, costs, and accepting or declining business deals.

There’s no doubt that entrepreneurship is hard. It takes a lot of guts, determination and perseverance to start your own business. But what makes it all worth it is the sense of accomplishment you feel when you finally achieve success.

So why do so many people choose to become accomplished entrepreneurs? The answer is simple – because they want to be their own boss, make their own decisions and control their own destiny. They want to create something new and see it grow into something successful. And they know that if they work hard enough, anything is possible.

But being a flourishing entrepreneur isn’t easy – there are plenty of challenges along the way. You have to be able to handle failure, cope with stress and keep going when things get tough. You need thick skin and a lot of self-belief, because not everyone will believe in your idea or support your venture. It can be lonely at the top sometimes too!

But if you have the passion and drive for entrepreneurship, nothing can stop you from achieving success – no matter how hard it may seem at times

But Entrepreneurship Matters!!!

Discover the power of entrepreneurship and how it shapes the world around us.

Some of the most famous people in the world are entrepreneurs. Whether they’ve created world-famous brands, conceived brilliant ideas, or introduced ground-breaking technology, entrepreneurs contribute immensely to society. And they’re usually recognized for their life-changing work.

But not every entrepreneur is famous, nor do they have to be. At its core, entrepreneurship is starting a new business. And regardless of how big or small a business is, its contributions are important.

So, let’s take a look at two of the reasons why entrepreneurship matters, and how it helps improve quality of life for consumers.

1. Growing the economy.

When entrepreneurs create successful products (or services), the economy is stimulated. This is because new ventures can lead to:

• Higher rates of employment

• More efficient use of resources

• Faster generation of wealth

 

For these reasons, many national economies categorize entrepreneurship as a highly valuable asset. Japan, Germany, and the United States are leading countries for entrepreneurial development. It’s no surprise then that all three rank among the top five wealthiest countries in the world (according to GDP).

2. Solving problems.

Innovation drives entrepreneurship. For example, where other people see manual processes, entrepreneurs see digital solutions. And with technology’s help, successful entrepreneurs discover ways to solve problems that the world’s current products and services can’t.

In this way, entrepreneurs are largely responsible for our contemporary creature comforts. Our latest inventions. And our most advanced technological developments.

• Manisha Rewani  [MBA]

• Manager Mktg

• AirCrews Aviation Pvt. Ltd

• www.AircrewsAviation.com

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How can you Become a Successful MBA Entrepreneur By Manisha Rewani

How can you Become a Successful MBA Entrepreneur

By @Manisha Rewani

• Develop Your Idea

It doesn’t have to be a totally unique or groundbreaking business idea in order to be a successful one. The popular rideshare company Lyft was started three years after the introduction of Uber. They took on the business model of Uber and just tweaked it a little.

Just because there is competition in a field doesn’t mean that you can’t be very successful when you start a business, too.

Go ahead and use the business model of the most successful competitor, but make it your own by identifying shortcomings and weaknesses that you can exploit for your own success.

• Keep Your Time Organized

Whether your business is brand new or fully established, entrepreneurs often have many projects and responsibilities going at once. It’s one of the things that make owning your own business so exciting, but it can also lead to stress if your time is overloaded and disorganized.

This is an area where technology shines. Scheduling apps can help you organize your day and set boundaries around your time. Find a tool that works for you and keeps your days running smoothly. Time-blocking is an effective strategy to use when you are planning out how you can manage your time.

• Hire Solid Talent and Support Their Success

When you start a business, it is often just one person or a tiny group handling every aspect of the company’s day-to-day functions. As you possibly expand and prosper, however, stepping back and offloading certain responsibilities is a natural and expected part of the process. Locating and hiring a great team is only half of the equation, and setting them up for success is the other half.

Keeping lines of communication open, while setting clear expectations, allows your employees to own their positions and create a path to winning for themselves and the business. Investing in supporting resources for your employees can be another way to set them up for success.

• Avoid Risk and Prepare for the Future

Hiccups or unforeseen circumstances are going to happen now and again in business. Occasionally going into crisis mode isn’t necessarily a cause for concern. However, if you feel like a large portion of your time is spent putting out proverbial fires rather than operating a well-oiled machine, you might want to place more focus on looking at potential difficulties coming your way and implementing support and processes to avoid them.

Try to educate yourself first rather than jumping into risky strategies. For example, the metaverse is a major buzzword going around that can be a risk for entrepreneurs. One of the leading innovation experts I’ve worked with in the past and respect is Jeff Wong, EY Global Chief of Innovation.

• Be Selective With Your Clientele

Being selective in your clientele should be the goal of every aspiring entrepreneur. Not only does it indicate stability in your company in that you can afford to turn down paying work, but it also allows you to have much greater control over the overall direction of your business progression.

For example, one of my friends, Jason Hennessey—who wrote the book, Law Firm SEO: Exposing the Google Algorithm to Help You Get More Cases—was an expert in marketing that found that he had success with law firms. A lot of marketing experts say that they can work with every industry and take on all varieties of clients that aren’t a fit. Hennessey found the niche and dedicated time into owning that niche.

• Don’t Overlook Branding

Branding is so much more than just expressing to your team and client who you are as a company and an entrepreneur. Having a strong vision also gives you a clear path for the future, as well as goals to go along with it.

Some entrepreneurs get lost in the day-to-day slog of keeping processes going, such as practical things like cash flow. Consequently, they neglect to assess and create a plan for their business branding.

• Seek Expert Guidance

Most entrepreneurs typically bring a specific skill set to the table. Whether you’re providing a service or a product, it can be assumed you are very talented in—or knowledgeable about—your industry. As very few people are experts in every aspect of business, however, it is recommended to bring in expert assistance when contemplating major changes or new ventures.

Guidance can be astoundingly useful for a variety of areas, such as finance, advertising, and technology. While it can be tempting to try and keep everything in-house for cost savings or control purposes, investing in a specialist or a team of specialists can be more than worth the investment.

Starting an advertising campaign is a great example of when it can be useful to elicit assistance to create focus and specify goals and metrics for success. In attempting it alone, you might invest $10,000 to dabble in a variety of advertising strategies. Even if you do see some limited success, you might not know which avenue generated the best results and would not know where to focus your effort in the future.

Compare this to investing $20,000 with an agency. You may have spent more money upfront, but they should be giving you a company-specific plan and delivering follow-up reports detailing the results of your campaign with supporting metrics.

• Build Your Network

No one can build a successful business on their own. You’ll need investors, attorneys, accountants, bankers, as well as vendors, industry contacts, employees, and a whole host of others.

Start attending trade shows and conventions, as well as joining trade associations and online groups. These are all great networking resources for you.

• Turn Early Customers Into Fans

Another advantage of starting out on a small scale while learning how to become an entrepreneur is that you can develop more personal relationships with customers.

 

Make sure to provide a great experience for these first customers to build up the most effective advertising there is — word of mouth.

• Raise Capital and Scale Your Business

At this point, you should have a proven business model with customers, cash flow, and a plan for expansion. You can now start to raise money through investors, venture capitalists, and banks.

Take the money raised and use it to scale the business for maximum returns for you, your employees, investors, and early backers.

• Manisha Rewani  [MBA]

• Manager Mktg

• AirCrews Aviation Pvt. Ltd

• www.AircrewsAviation.com

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How to Dream and Dream Creatively by Rumana Maner

          

How to Dream and Dream Creatively

@Rumana Maner

FIRST, LET’S CLEAR UP a common fallacy about the meaning of creative thinking. For some illogical reason, science, engineering, art, and writing got tabbed as about the only truly creative pursuits.

But creative thinking is not reserved for certain occupations, nor is it restricted to super intelligent people.

Creative thinking is simply finding new, improved ways to do anything. Let’s see what we can do to develop and strengthen our creative thinking ability.

Step one: Believe it can be done. Here is a basic truth: To do anything, we must first believe it can be done.

WHEN YOU BELIEVE, YOUR MIND FINDS WAYS TO DO.

When you believe something is impossible, your mind goes to work for you to prove why. But when you believe, really believe, something can be done, your mind goes to work for you and helps you find the ways to do it.

Believe, and you’ll start thinking—constructively. Your mind will create a way if you let it.

The traditional thinker’s mind is paralyzed. He reasons, “It’s been this way for a hundred years. Therefore, it must be good and must stay this way. Why risk a change?”

In truth, there is no one best way to do anything.

Traditional thinking freezes your mind, blocks your progress, and prevents you from developing creative power. Here are three ways to fight it:

1. Become receptive to ideas.

2. Be an experimental person. Break up fixed routines.

3. If your work is in distribution, develop an interest in production, accounting, finance, and the other elements of business. This gives you breadth and prepares you for larger responsibilities.

Be Progressive, not Regressive.

The successful person doesn’t ask, “Can I do it better?” She knows she can. So, she phrases the question: “How can I do it better?”

Big success calls for persons who continually set higher standards for themselves and others, persons who are searching for ways to increase efficiency, to get more output at lower cost, and to do more with less effort. Top success is reserved for the I-can-do-it-better kind of person.

Capacity is a state of mind. How much we can do depends on how much we think we can do. When you really believe you can do more, your mind thinks creatively and shows you the way.

As a personal policy I have accepted fully the concept: If you want it done, give it to a busy person. All the successful, competent people I know are busy.

Try this three-stage program to strengthen your creativity through asking and listening:

1. Encourage others to talk.

2. Test your own views in the form of questions.

3. Concentrate on what the other person says. Listening is more than just keeping your own mouth shut. Listening means letting what’s said penetrate your mind.

Ideas are fruits of your thinking. But they’ve got to be harnessed and put to work to have value.

Use these three ways to harness and develop your ideas:

1. Don’t let ideas escape. Write them down.

2. Next, review your ideas. File these ideas in an active file.

3. Cultivate and fertilise your idea. Now make your idea grow. Think about it. Tie the idea to related ideas.

USE THESE TOOLS AND THINK CREATIVELY

Believe it can be done. When you believe something can be done, your mind will find the ways to do it. Believing a solution paves the way to solution.

Eliminate “impossible,” “won’t work,” “can’t do,” “no use trying” from your thinking and speaking vocabularies.

Don’t let tradition paralyse your mind. Be receptive to new ideas. Be experimental. Try new approaches, be progressive in everything you do.

Ask yourself daily, “How can I do better?” There is no limit to self-improvement. When you ask yourself, “How can I do better?” sound answers will appear. Try it and see.

Ask yourself, “How can I do more?”

Capacity is a State of mind.

Practice asking and listening. Ask and listen, and you’ll obtain raw material for reaching sound decisions. Remember: Big people monopolise the listening; small people monopolise the talking.

Stretch your mind. Get stimulated. Associate with people who can help you think of new ideas, new ways of doing things. Mix with people of different occupational and social interests.

 

By

@Rumana Maner [MBA]

HR Manager

AirCrews Aviation Pvt Ltd

manerrumana@gmail.com

rumana.aircrews@gmail.com

www.AirCrewsAviation.com

Rumana Maner [MBA] HR Manager