Ideas, Passion & an MBA - Stepping Stones of Being a Successful Entrepreneur

Idea, Passion & an MBA

With almost 19000 start ups budding as per the Economic Survey 2015-16 and schemes like Fund of Funds for Start-ups (FFS) started in 2016, being an entrepreneur seems to be like a wave. In today’s time, when everything is a click away, one would wish if there was a sure shot recipe of being a Successful Entrepreneur

MBA Rendezvous brings you 9P’s of being a successful and prosperous entrepreneur:

The first step of being an entrepreneur comes from the very popular Telecom giant’s tag line –An idea can change your life. Well sometimes you just need that one thought which is strong enough to bring that wave of change. Thus it is very important for you to have an idea and a great plan for your venture. 

The constant drive and passion to continue innovating in order to make your venture successful is the next step. Aim to be creative and a pioneer in the field you have chosen.

Be a team player and strive to build a team with diverse knowledge. A good entrepreneur builds a strong network of individuals who play their respective roles with utmost diligence.

The thumb rule is to set goals for yourself and your business and keep pursuing them. A strong vision and the ability to turn it into a profitable business will help you be a stronger leader. 

A successful entrepreneur is one who can persuade investors, stakeholders and team members and keep them motivated.  He is one who can make the relevant people listen and invest in his idea and plan.

Just like a phoenix has the ability to self destruct itself and emerge from its ashes, similarly an entrepreneur must be ready to take risks, embrace disruption and emerge as a stronger player in the market.

Apart from some natural qualities, right education and pedagogy is like cement which strengthens you as an entrepreneur. An MBA degree helps you analyse the strength of your idea and how you can transform it into a good business. Getting an MBA degree from a good B-school not only helps you understand the theoretical and practical aspects of starting and running a business but let’s to build a strong network of right people you would need for it. Also being under the constant guidance of able professors’ helps you measure and mitigate risks. 

It is very important for you to be pro-active and embrace the right opportunities at the right time. 

Keep innovating and keep asking these questions to yourself and work hard in order to become a better entrepreneur - Is everything going right? Is anything going wrong? What can I do differently? Am I delivering? Are my stakeholders happy? 

Last but not the least, it is important for an entrepreneur to be able to enjoy his work. In order to excel in your business you must be able to have fun while you build and expand it.

Stay informed, Stay ahead and stay inspired with MBA Rendezvous