The history of businesses and endeavors is replete with evidence of someone seeking someone’s help to achieve something. In the case of entrepreneurs, the journey from idea to IPO is paved with trophies and trenches, with thousands of occasions to fail, and the need for structured programs of help is indeed indisputable.
An entrepreneur is born:
Entrepreneurs globally are driven not by money, power, or any superior position in the society that allures them to start with an idea.
Entrepreneurial orientation is characterized by autonomy, innovativeness, risk-taking, competitive aggressiveness, and proactivity. Contrary to popular belief, they do not become entrepreneurs since they are more risk-takers than others. Their awareness of risk and management of it is heightened than others.
These entrepreneurs have an innate drive to solve what they feel is solvable, and they are willing to take the bet on their ability to solve the problem they notice, consciously or subconsciously. Additionally, it is also a sense of sensing an opportunity that they feel urgently, which could solve the problem that may bother society somehow.
Entrepreneurs are creative as they see the world as it ought to be and not as is. The idea that germinates in their minds and hearts is a tool they use to solve the problem or the opportunity they see or sense to change the status quo, not to accept it.
The difference between them and others is that they think they own the role of solving that problem rather than referring it to someone else; they want to do it independently, so they become their masters.
Need for Structured Programs:
The need for structured programs to provide help to entrepreneurs and their enterprises cannot be downplayed. Among several reasons, three stand out:
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In summary, as the creative minds of entrepreneurs weigh risk and rewards in their pursuit of solving the problem, the structured programmed help from outside fundamentally improves the odds of success by institutionalizing data management, filling information gaps, offerings lessons from business history, balancing the creativity with order, in managing money, materials, people and information, to achieve success.
The author, Samir Sathe, is Executive Vice President, Wadhwani Advantage at Wadhwani Foundation. Views expressed in the article are his own.
(Edited by : Dipti Sharma)
Note To Readers
For entrepreneurs, the journey from idea to IPO is paved with trophies and trenches, with thousands of occasions to fail. The creative minds of entrepreneurs weigh risk and rewards in their pursuit of solving the problem and a structured programmed help from outside fundamentally improves the odds of success.
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