Entrepreneur needs lot of guts- encouraging our young generation for opening jobs rather than filling jobs:

I wrote this article as soon as I ended my trip using two-wheeler self-service bike ‘Bounce’ at Bangalore. It was unbelievable, for 7 km I was charged 25 Rs. (Not even half of the USA $), imagine the affordable cost in a city like Bangalore. The bike was brand new, it had ridden around just 1100 km. Who are these people who started this convenient service, are they ‘entrepreneurs’, yes they are. You can think of Ola, OYO, Paytm and many more startup examples.

Image source: https://casanuratti.com/2018/11

I always think why so many graduates get into job lines instead of opening assembly lines (I.e. Factory). The students focus their imagination and creativity only for getting a job. The entrepreneurship is a position where you really create some valuable service or product to the people and the jobs and economy to the country.

Few examples of entrepreneurs, mix of old to young folks:

a. OLA Cabs- Bhavish Aggarwal

b. Bounce bikes- Vivekananda, Varun Agni and Anil G

c. OYO Rooms- Ritesh Agarwal - Age 24

d. Rockstah Media- Farrhad Acidwalla - Age 23

e. Neuro-Insight- Pranav Yadav - Age 28

f. Prestige construction company- Irfan Razack

If you look at maximum entrepreneurs most of them come from humble backgrounds, but with great ideas, passion and conviction.

Below are the few phrases by which you can understand the entrepreneur and entrepreneurship:

- “A person who sets up a business or businesses, taking on financial risks in the hope of profit”.

- "Many entrepreneurs see potential in this market".

- “Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs”.

- “Someone who starts their own business, especially when this involves seeing a new opportunity”.

To summarize,

1. 1. Entrepreneurs take the risk.

2. They target profits.

3. They start small and think bigger future.

4. They design and implement the product/service.

5. They forecast potential in the market.

6. Strike while the iron is hot.

The challenges of entrepreneurship in India which I see:

1. It's deep-rooted in some cultures that ‘padhoge toh Naukri karoge, nahi padoge toh business karoge’ (If you study you will do a job, otherwise you will start a business). In an actual sense it’s vice versa when you compare a job, to start a big business you need more knowledge, courage, energy, and patience.

2. The schools and universities focus more on preparing for jobs rather than business development.

3. Commerce stream of a college education does have subjects on entrepreneurship, but it lacks practical pedagogy (coaching).

4. People feel jobs to be secure than Business.

5. The entrepreneur needs a leadership skill (at least basic WHO advised life skills), which is not part of our regular education.

6. People are not aware of the support services available for entrepreneurs.

Refer for start-up support details:

1. Indian government support:

a. https://inc42.com/startup-101/startup-scheme-indian-government-startups/

b. https://www.startupindia.gov.in/

2. Social incubation

https://www.thebetterindia.com/51427/11-social-incubators-helping-indian-social-entrepreneurs-transform-lives/

It was joyful to see the offering of Bounce, you can check the unique features/strategy behind Bounce success.

https://jungleworks.com/3-strategies-helping-bounce-the-on-demand-bike-app-pacing-up-its-growth/

Original stories for budding entrepreneurs:

Leveraging current family business to expand further.

Story 1: How Anil Agarwal took his family business from scrap dealing to the global mining business. (Vedanta Resources Limited- In 2017 revenue of $ 11,550.1 million)

Anil Agarwal was born and brought up in Patna, India. His father Dwarka Prasad Agarwal had a small aluminum conductor business. He studied at Miller High School, Patna. He decided to join his father's business, making aluminum conductors, instead of going to university. At 19, he left Patna for Mumbai to explore career opportunities.

In the mid-1970s, he began trading in scrap metal, collecting it from cable companies in other states and selling it in Mumbai. In 1976, Anil Agarwal acquired Shamsher Sterling Corporation, a manufacturer of enameled copper, among other products. After a while, he decided to control his input costs by manufacturing the metals instead of buying them. Then the story is here, scrap dealer to the miner.

Story 2: Revamp story of hot selling Bullet- Royal Enfield: Siddhartha Lal, a third generation member of the Delhi-based Lal family, promoters of the Eicher group of companies. How he turned 'about to close' brand into a success story.

https://www.businesstoday.in/magazine/case-study/reviving-royal-enfield-bullet/story/19892.html

Share with the young and budding folks.

About the Author:

Maaz Mohammed A.Q, based out of Kolar, Karnataka, India.

Founder and Learning strategist @ Credence Learning Foundation,

Research team member @ Hauna Preschool systems.

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