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Entrepreneurs & Entrepreneurship (Part 2)

PatienceDedication, Hard Work and Tolerance for Risks

 

 

Continuing from the earlier discussion, I would like to dwell a bit more about the various other aspects of Entrepreneurs and Entrepreneurship.

THE DNA OF AN ENTRRPRENEUR

There is a general misconception that to become an entrepreneur one has to have original, earth shattering, game changing ideas. Nothing can be further from the truth. To be an entrepreneur you need - Passion and Will to succeed. 

There is a need to be confident and decisive even when the future is unknown.  You must love your work. Some other key traits that mark a successful entrepreneur are,

  1. Patience :
    1. Building a business is a process and sometimes a very slow one. It has  more ebbs than flows
  2. Dedication and Hard Work
  3. Tolerance for Risks
    1. This is perhaps the most essential trait that a person must possess to successfully come through times of uncertainty and challenge. Persons who cannot handle  worry or anxiety and  who crave predictability and security are ill suited to be entrepreneurs

TYPES OF ENTREPRENEURS

There are three types of entrepreneurs

  • Those who become entrepreneurs to make a living.
    • 90 % of entrepreneurs fall into this category, be it a large distributor or the Panwallah at the street corner
  • Those who want to make a change. These are those that are taking existing processes and repackaging them to create convenience or cost savings
  • Those who push an idea, which is new and revolutionary –the game changer . It can be a product or a service.

WHAT IS DRIVING ENTREPRENEURSHIP

  1. The pace of change is accelerating leaving a smaller window of opportunity and hence scope for new products and ideas to push out an existing product or idea, Strategy life cycles are shrinking
  2. Deregulation and descaling effects of new technology is pushing youngsters into the arena
  3. Internet is shifting power from the producers to the consumers
  4. Plummeting costs and wider availability of communications
  5. Globalization and disappearing country trade barriers

ENTREPRENEURSHIP – THE ROAD AHEAD

  • The road ahead is a series of unknown .
  • The customer is unknown and has to be identified and acquired
  • Products features are unknown as solutions not product is what the customer wants
  • Competition is unknown as it can come from any where, another company ,another country or another technology
  • So a business idea, not a business plan , is required which identifies who is the customer and why . How is he reached and serviced and every transaction  is an experience .

Sid Garg, Founder and CEO of www.zarood.com is one such entrepreneur who has set out to contribute to the cause of handmade exquisite fashion. Working directly with Kaarigars (Artisans), Sid Garg is able to offer the most exquisite pieces of Fashion Jewelry and Accessories and Décor at very competitive prices.

About the Author

Mr. Veer Sagar consults and advises companies on general management, business development, cost and process management, objective creation and company positioning. Veer has over 48 years of general management experience in India with a particular focus on marketing and on the information technology and manufacturing sector. Current is the Chairman of Selectronic, one of India's earlier BPO operations. Veer has also lead courses and delivered sessions on these topics to MBA and executive audiences at Harvard, IMD, Hong Kong University.  He is also the Founding Chairman of “The Association of Entrepreneurs, (www.aoe-india.com)

 

ABOUT US
  • Zarood.com is the leading online marketplace for connoisseurs of handicraft products offering high quality products sourced directly from handicraft artisans around India. We offer the best prices with a completely hassle free experience of online shopping and the option to pay via Cash On Delivery, Credit Card, Debit Card and Netbanking processed through secure and trusted payment gateways. We offer a wide range of handmade fashion accessories - necklaces, bangles & bracelets, earrings, clutch bags and handbags. We are also the exclusive online partners for Muskaan the NGO and offer these "cause crafts" in our range including handmade candles and stationery. Zarood also offers free cash-on-delivery for orders above Rs. 1500/- and flat rate shipping charges for all orders* (T&C apply). Get the best prices and excellent shopping experience and subscribe to the mailing list to get exclusive discounts and new updates.
    Online Fashion Jewellery and Accessories store in india
    Zarood.com is an online jewelry shopping store in india offering an array of designer fashion jewelry and accessories for women. We bring you the choicest of handmade jewellery and trendy fashion jewelry, be it ethnic, bridal, casual or formal. We strive to make you look your best with the latest and the finest jewellery.
    Best Online Accessories
    Whether you are looking for statement pieces, such as pendant necklaces, earring studs, bracelets, bags, purse, bangles, traditional paintings or handcrafted products you have a wider variety to choose from. You can find stylish options here for DIY fashion accessories for women that fit your budget and make the process much easier.
    Beautiful Indian Handcrafted Products
    Each handmade products shares a story, whether it's about the artist, the material used, or the origin, it adds more interest to the item itself. Knowing this increases one's appreciation of the object.

  •   603, Kirti Mahal, 19, Rajendra Place, New Delhi, INDIA
  •   +91.11.4704.2915
  •   care@zarood.com
  •   We are open Monday to Saturday, 10 AM - 5 PM and closed on Sunday.