what is Entrepreneurship???..in your own words


We wanted to know that what our users think about entrepreneurship. What do they think what entrepreneurship is??
For this purpose we asked a question in our registration form related to “Intellectual Property Rights in India”. We are getting a tremendous response. Let’s see few very good replies, which will clear the term entrepreneurship.After seeing such great answers we thought to share this with our users…

The question that must send many of us thinking in the right direction. Many of us, as is evident from this forum, are obsessed with making money!.

But I think this mindset misses the mark. Building an enterprise that makes money for you is NOT about money. It is about building a Business: money follows. And this is what the entrepreneur does – he builds a business, that makes money.

But making money is not the only thing that he is doing. He is following his passion. The passion could be that he wants to establish a successful business.

Or (s)he wants to do some good for the humanity. So while serving the needs of other (s)he also establishes an enterprise that also makes money. I feel in the case of an enterprise, money is always a bye-product.

Entrepreneur has a vision for his business – how it is to be run, what direction it is going to take, how far (s)he wants to go, etc.

An entrepreneur has to be resourceful – for that (s)he needs to identify an area in which (s)he can excel. Nobody can excel in everything. There is always something in which you will excel; there are many areas in which you won’t! So you have to identify your strengths, which is identifying your interests – which is akin to knowing yourself. Only a self aware person can be a successful entrepreneur.

An entrepreneur has to be single minded. (S)he should follow her ‘vision’ with single minded ‘passion’. (S)he should not be distracted by minor distractions and major or minor failures along the way. It requires one to be ‘determined’.

There might be and definitely are some other qualities. But these are the basics – the ‘must haves’.

The capacity and willingness to undertake conception, organization, and management of a productive venture with all attendant risks, while seeking profit as a reward.
In economics, entrepreneurship is regarded as a factor of production together with land, labor, natural resources, and capital. Entrepreneurial spirit is characterized by innovation and risk-taking, and an essential component of a nation’s ability to succeed in an ever changing and more competitive global marketplace.

Anyone can be an entrepreneur. In fact you can be a smart home based entrepreneur.- Narayan Jhawar

I think now-a-days everyone just tries to just take mba degrees after engineering . But how can be business n core skills be taught. It needs to be in your blood. Many few people after taking mba degree actually become enterpreneur or do business. Firstly you must be good with your engineering core and basic skills and then you must be able to market/sell your invention/innovation/products in a good manner,which makes a real and able enterpreneurship. That’s it.- Anurag Khandare

entrepreneurship is a challenging thing, it requires great courage, good aspirations and goals.at the same time i also feel it’s a social thing, you are supporting a class of employees and providing a service/product which is really useful to society –Ritesh Reddy

Entrepreneurship is an skill which need to be culminated in young tender mind in India to tackle the ordeal of life which is prevalent in human journey .
India is vast land of diversity and unique advantages of very geographical potential which is yet un utilized due lack of skill to figure that out or infact a tremor in will to take the lead to solve that .
Entrepreneurship development will lead to self dependence and self reliance among Indian youths.-Siddharth Kumar

No big sentences to define it though.

Entrepreneurship for me has 2 parts.
First is to make sure that the responsibilty that is vested upon is handled with due care and striving to improve the way of doing things.

Secondly the person responsible should add more value to his business or work by either bringing in new concepts or bringing dynamics in the existing concept if newer product areas is not the focus of the person.-Ravi Agarwal

Concrete planning,definitive and meticulous execution complemented with an eye for innovation.that is what you need to be a sound entrepreneur.-Vihan Dang

The ability and the concept of taking risks to harness benefits from the market is the art called as entrepreneurship.- Arun Kumar Upadhyay

And the Best One….

master of your own-Ananyaja Debadipta

Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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