Skip to main content

Entrepreneurship
Entrepreneurship
1 follower
142 questions
7 posts

Do you have questions about Entrepreneurship?

Log in to ask questions about Entrepreneurship publicly or anonymously.

Bob Adams

 

                                                                        

Bob Adams is the founder of BusinessTown the go-to learning platform for people starting and running their own businesses. Bob has started dozens of successful businesses, including one he launched with $1500 and sold for $40 million. He also has an MBA from Harvard Business School.

Reasons How Professional Experience Can Help You Become A Better Entrepreneur

Starting, sustaining and growing a business requires vision, fortitude and perseverance. Having worked out a great business plan and figuring out the funding is a great first step but most business plans go through a metamorphosis at every stage of the company’s growth. Local market dynamics, regulatory pitfalls, global economic shifts and other problems can derail the best laid out business strategies. This is when hardcore entrepreneurs dig-in their heels and draw upon their experience to chart a future course of action.

They say hindsight is always 20:20. Professional experience can be of great help and come in handy while putting together the nuts and bolts on your business plan and working out a long-term market approach. Success rarely travels a straight line then how does one stay focused and committed to one’s goals irrespective of the challenges?

A report by IBM Institute for Business Value and Oxford Economics has found out that 90per cent of Indian startups fails within the first five years of their operation. Not being a part of this becomes a herculean challenge. In my not-so-long journey as an entrepreneur:

  • Identification of the Problem: This is learning # 1. The key to understanding what entrepreneurship is about is to assimilate this one diktat. Identify a critical, unserved problem in the market that you can address with a winning solution. Once you’ve narrowed in on this, make sure that all important elements of your business, from your strategy to your operational plans to your hiring revolve around... (More)

Reasons How Professional Experience Can Help You Become A Better Entrepreneur

Starting, sustaining and growing a business requires vision, fortitude and perseverance. Having worked out a great business plan and figuring out the funding is a great first step but most business plans go through a metamorphosis at every stage of the company’s growth. Local market dynamics, regulatory pitfalls, global economic shifts and other problems can derail the best laid out business strategies. This is when hardcore entrepreneurs dig-in their heels and draw upon their experience to chart a future course of action.

They say hindsight is always 20:20. Professional experience can be of great help and come in handy while putting together the nuts and bolts on your business plan and working out a long-term market approach. Success rarely travels a straight line then how does one stay focused and committed to one’s goals irrespective of the challenges?

A report by IBM Institute for Business Value and Oxford Economics has found out that 90per cent of Indian startups fails within the first five years of their operation. Not being a part of this becomes a herculean challenge. In my not-so-long journey as an entrepreneur:

  • Identification of the Problem: This is learning # 1. The key to understanding what entrepreneurship is about is to assimilate this one diktat. Identify a critical, unserved problem in the market that you can address with a winning solution. Once you’ve narrowed in on this, make sure that all important elements of your business, from your strategy to your operational plans to your hiring revolve around... (More)

Being an entrepreneur is not easy, i guess it takes everything, by everything I mean everything. So thing twice before leaving your peaceful 9 to 5 job. If you are 100% sure that you want to come out of your comfort zone and work so hard that you become a CEO of a big company one day, then don't do it. Because it is better that you work for someone else rather than waste your money and time for what you are not made for.

So, in short and simple terms I would like to tell you that entrepreneurship is not everyone's cup of tea, so think before taking a wrong step. Because every wrong step taken is a mine forever.

Thanks for reading, hope you would like it. Everyone's views and thinking pattern is different, so if you something else please share yours view in the comment box below.