CAREER AS AN ENTREPRENEUR

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Updated on Nov 4, 2009 03:36 IST

An entrepreneur is a person who starts a new business venture or one who organizes and owns a business for the purpose of creating long-term wealth. The responsibility and risk associated with the business is also the entrepreneur’s.

The Job

A person who believes in a great idea for starting a business and is willing to put oneself completely on the line for that idea without giving up no matter what is a true entrepreneur. Failure is never an option in this field. Initially one has to carry out all the responsibilities that the respective business demands, on their own. This is because the entrepreneur believes in maximum utility of funds and moreover thinks that he is the only one who could do any job the best way possible. It is only after the business starts expanding that an entrepreneur starts recruiting the necessary people for the line of work.

Personal Traits

Determination to make your business venture succeed
Perseverance
The desire and willingness to take the initiative
Competitiveness
Self-reliance
A strong need to achieve
Self-confidence
Flexibility
Sense of urgency
Comprehensive awareness
Realism
Ability to detect problems and work on a solution fast

Job Prospects

This career is a self-driven one. An entrepreneur is his own boss, therefore, does not need to depend on an institution or organization to make it big and successful. As India is booming in technology, in manufacturing, and in consumer products there is a great platform for entrepreneurs to start up their business with their own strategies and in order to make it a profitable business.

Salary

Earning in this career cannot be specified. Initially one would need to invest and manage the limited funds. Once the profits start tricking in, it entirely depends on the drive in an individual entrepreneur to measure the money earned. The risk rates are high and there are no limits for profits or losses.

The Study Route

Class XII Any Subject but if interested in commerce than preferably commerce and/or economics

After class XII As the ability to conceptualize and deliver a product, is the key element as an entrepreneur that needs to be developed in a person, it is best recommended if one undertakes Engineering / Economics / Commerce at the graduate level and then goes on to do an MBA at a post graduate level.

List of some reputed institutes for engineering: