Behaving like being an
Entrepreneur itself is the biggest behavior of a successful Entrepreneur. These
entrepreneurial behaviors differentiate common people from them. Starting with
the zeal of becoming an entrepreneur, Awareness of the situations they are
facing, Creativity, risk management, Timing, at most focusing skills, Futurevisions, Building the networks, what not every little behavior leads the way to
success. Upon all these self-belief and motivation keep the person and the
committed team alive. Listing out the behaviors of the successful people might
be a ridiculous thing; it will be like trying to fit an elephant into a small
box. So we cannot list out the Entrepreneurial behaviors but can give a brief
idea of them. As all the routes do not lead to the destinations all the listed
behaviors do not lead to success there may be many things out of the line.
Half of the people who meant to
be academic Entrepreneurs are Scientist, Graduates, and Students of the
Universities etc. They tend to start a business based on their studies,
research works etc. They tend to convert the results of their studies to money.
These academic entrepreneurs are funded by the universities, to do this kind of
innovative stuff. After the successful completion of the business projects, the
universities will be the partners of the particular business also. This
academic Entrepreneurship is a boon to the academicians who want to pursue
their dream of being an entrepreneur. Even though it looks like a foot in two
worlds but the ultimate result of being an Academic entrepreneur will be great.
Did we ever think from where these innovative ideas come from...? They come from nothing or from severe brainstorming. Some industries grow very fast while some will lack behind. But among all of these only some industries are considered innovative. Every field like Automotive, Technology, Pharmaceutical, and Biotechnology are innovative in their own way, trying to invent new technologies in their fields. The highest innovative percentage is seen in the Information technology that is of 30%. Next the telecommunications and automotive occupy the second position of 13%. Apart from these, the greatest innovation was seen in food, Beverage and tobacco industries. Innovative thinking increases the emerging of the new companies and them directly increasing the job Opportunities for the people, increasing creativity, and improving the quality of life of people everywhere. Innovative industries are doing a better job meeting people's needs and pushing the boundaries of innovation than more established competitors in other parts of the world.
Some of the lists of innovative industries are:
Most of the people have dreamed
of starting their own business, but many people see only the cons of starting a
business. But if they see clearly it will be an ocean of opportunities to
pursue it. In spite of the success, we dream, hurdles always greet us first;
many people rebuff the opportunity there. But overtaking the hurdles leads to
success. This growth of entrepreneurship leads to the economic growth of the
country. Expandability, New thinking, Digitalisation also plays the main role
in the growth of the company. Competitiveness increases the firm of performing
together. Building up of competitiveness increases the chances of growth in a
company. Better Infrastructure, Legal systems, Markets will encourage more
people to start a business. With the increasing number of businesses, the
competitiveness between them also becomes high. Health Competitiveness leads to
the growth of oneself and growth of the country. Social challenges,
Sustainability, Active and health Aging, Innovation also helps in the growth of
the entrepreneurship.
Entrepreneurial companies face
main issues like a high-risk investment. In return to that risk, they will also
face high returns also. The two main sources for the accumulation of the
capital are the Banks and the Venture Capitalist. Banks will monitor less effectively
and they face the capitals demands from their own investors. Venture capitalist
monitor high effectively and face a high cost of capitals. But the disadvantage
of a venture capitalist is they charge a large number of returns of at least
30-40% per year whereas this is very less in banks. The capital amounts
provided by the banks or the venture capitalist changes based on the type of
ventures. They are
But this venture capitalist does not finance in the early stages of the business. The early stages of the business include funding from friends, family, seed stage financing, angel investors etc. The basic difference between the venture and the seed stage financing are as follows:
| Venture
Capitalist | Seed
Stage Funding |
| They
start with the companies which are matured | They
start funding at the seed stage of the company |
| They
usually fund millions and ten million at a time | Their
funding will be of thousand USD to One million |
After all, the basic motto of the
funding companies is to encourage the new talent to direct them to the future
successful entrepreneurs
Whatever idea you have whether it
is selling coffee, computers, and conferences etc. It pays to know and understand your market
target. The time gap between sharing your idea of starting a business should be
spent over studying the concepts of the business and marketing. Big businesses
do this in spite of its high cost. They have teams dedicated to interviewing the
customers, surveying about the possibilities, analyzing buying partners etc.
This analysis and studies should be done in every stage of the business. But
the major part should be completed in the seedling stage. Study of market
research helps us to analyze whether our idea is innovative? the area to start
the businesses, time when to apply for the funding, when moving into new
markets etc. Second thing thinking of how your idea will be helpful to the
customers. The major study should be done on the type of customers who get
attracted to the idea. Basically, there are 3 types of customers. They are
purchasers (Those who take the decisions), Influencers (Those influences the
purchases), End-users (Who usually interacts with you and use the product).
This study directs the growth of your business. Later you need to concentrate
on the competitors in the field. This study gives a clear idea of how you would
tailor your growth when competing with each group. The last point to be noted
is the Collaborators who support your idea but aren’t paid or rewarded for
that. So making these studies will be helpful for the growth of your idea into
a business
According to a research it is
stated 1/3 of all the entrepreneurs in the world are women. It might be just a
small number but the outcome is different. Women entrepreneurs are tending to
generate high economic growth rate. They often face gender-based barriers like
marital status, cultural practices, inherent laws etc. Still, they stand up for
what they want to be. This also strengthens Women empowerment and well-being of
the society. The main drawback of the women entrepreneurs is an Entrepreneurial
mindset; most of the women prefer to have salaried jobs, steady working hours
and paid leaves. But most of them attest that is not true because of flexible
working hours, salaries and more comfortable in the field of Entrepreneurship but
the time they take for the benefits if more. Another drawback is the lack of
practical experience, as the no of entrepreneurs is less in women it will be
difficult for them to look up and take the one as an example. In spite of all
these, so many associations and industries are encouraging women to pursue
their dreams of having their own business. Hope this will be continued in the
future also.
How much we try to nullify it the gender gap especially in the entrepreneurship is increasing day by day. According to a recent survey the men are said to be showing the highest growth rate when compared to the women. Let us see some examples proving it.
| Men | Women |
In terms of age, men seem to set
up a business before 35 | At that age, very little women
started the business |
| Men
spend 75% of their time at work | While women spend it with the
family. |
Men are more likely to raise 2x
more funding of $100k | Women entrepreneurs have raised
less than $10K |
Instead of courses men likely to
read books for improving the skills. | 15% of the women are interested
to take courses regards the entrepreneurship |
It is said that 90%
of the women-owned business is said to be underperforming when compared to men.
This is due to the women weakness in handling the situations and challenges,
due to the men superiority and normativity. Focused on women empowerment and
social inclusion it is said that its development is now seen to make good
economic sense. Guiding and helping the opposite gender simultaneously help the
growth of the economy cordially.
Start-up is defined as a newly
emerged business to satisfy the market needs. The percentage of risk for this
is very high. It mainly revolves around the creative ideas, thoughts,
discovering new products, new services etc. Then committing the right team to
improve the idea to work is the key step of a start-up. The successful journey
of the team on the main idea and working collectively also plays a key role in
the success of the start-up. Then comes the main thing called financial
support. In the US alone a large number of campus entrepreneurship programmes
are offered in universities, based on this about 27 million people are running
their own business in the US topping the Global Entrepreneurship Index. Now a
day's financial support for a start-up had become very easy by the esteemed
support of the banks, financial institutions etc. Then the correct market
timing to release the product also plays a vital role in the success of the new
company. Validating the results to attract additional resources via
investments, Revenue shares etc. increases the scope of the company.
Learning of entrepreneurship is
still an undeveloped domain. Nowadays it is booming in its own way to change
the future ways of entrepreneurship learning. Entrepreneurial learning mainly
involves attitude, skills, and knowledge to turn the creative ideas into
action. Entrepreneurial learning leads to the born of new entrepreneurs, which
follows upcoming of the new industries, job creation, and a healthy economy,
stimulates innovation and capacities to deal with the Globalisation, it
motivates students, it empowers people to create value for the society etc. The
academic stage of entrepreneurial learning will be beneficial to the students.
Academic stage of learning enables them to explore how entrepreneurial
capability and identity is learned in a creative way, it teaches a conceptual
framework of entrepreneurial learning, highlights the processes of entrepreneurial
learning and identity formation etc.
Start-up communities are the local group of people who support the starting of a new business on their own. These communities allow rapid flow of resources, support the increase in the social capital, learning about the start-up, Job opportunities etc. Some of the communities also add on venture capitalist, mentors, and instructors to the community to guide them further into the future. Developing these kinds of communities stimulate talent and entrepreneurship in an innovative way. They mainly work on:
Start-up is defined as a newly
emerged business to satisfy the market needs. The percentage of risk for this
is very high. It mainly revolves around the creative ideas, thoughts,
discovering new products, new services etc. Then committing the right team to
improve the idea to work is the key step of a start-up. The successful journey
of the team on the main idea and working collectively also plays a key role in
the success of the start-up. Then comes the main thing called financial
support. In the US alone a large number of campus entrepreneurship programmes are offered in universities, based on this about 27 million people are running
their own business in the US topping the Global Entrepreneurship Index. Now a
day's financial support for a start-up had become very easy by the esteemed
support of the banks, financial institutions etc. Then the correct market
timing to release the product also plays a vital role in the success of the new
company. Validating the results to attract additional resources via
investments, Revenue shares etc. increases the scope of the company.
Get your ticket: https://mecglobalevents.com/conferences/entrepreneurship-2020/registration