Entrepreneurship: The right career move

The Indian entrepreneurial ecosystem is 3rd largest in the world, after USA and China. As per the government data, India is home to close to ~ 61, 500 start-ups and business set up. The market is moving at a scorching pace with new entrepreneurial set-ups mushrooming across a range of verticals such as e-commerce, SAAS-based platforms, analytics, health tech, fintech & digital payment companies, trading, etc.

India's attractive demographic profile and changing demographics alongside the need to stay innovative during the pandemic have turbocharged the segment. The Global and Indian PE fraternity has also been generous toward the Indian entrepreneurial ecosystem and poured in capital, thereby further pushing it ahead.

As of Sep 2022, media reports suggest India is home to 100+ unicorns with a combined valuation of more than ~ USD 340 Billion. This further underscores the intensity of Indian start-up story.

As India emerges as a triumphant start-up powerhouse, Indians' interest in starting and owning a business is proliferating. Both working professionals and college students are now looking forward to the idea of starting their own business. In Indian society, which was largely a middle-class job driven, stigma and reservations attached to starting-up are now reversing.

Family and friends are encouraging people to take risks and work on their ideas.

Meanwhile, it should be noted that starting a business is not everyone's cup of tea. The glitz and glamour of the entrepreneurial world are often contradicted by on-ground realities. Not every start-up is making commendable profits. In fact, only 20-25 per cent of start-ups are EBITA positive. The rest are yet to find the north pole of their business. In fact, many are literally burning cash.

Likewise, entrepreneurship is a high-pressure game and it is lonely at times. There is a high degree of accountability despite seemingly it been a team game. To start their entrepreneurial journey, one has to keep these nuances into account.

Meanwhile, it requires a tremendous amount of hard work. Sometimes an insane degree of effort. It is not an adage that one has to get up before everyone else and stretch it late till night if the ambition is to become a successful entrepreneur.

The mantra is simple, you have to continuously work hard, learn and unlearn.

You need to be ready for both, wins and pitfalls. If things work out in your favour, celebrate and move forward. If there is a setback, retrospect & learn the lessons and again keep moving forward without wasting your time.

An enriching journey

No doubt, entrepreneurship is tough to deal with, but it is also an enriching journey if done carefully. If you put in the effort and have the patience, the rewards are multifold. Not just the financial benefits are immense but entrepreneurship is also marked with a huge amount of job satisfaction.

It gives you chance to build your own team from scratch and play a pivotal role in their growth and grooming.

In the worst-case scenario, even if things do not work out, the learnings will you receive can take you places.

Being a founder of a business start-up can draw a parallel to the role of an airplane pilot. Your speed and execution decide the fate of the company. Though lows are inevitable, the thrill has its own high.

(The author is the Director, Rosemoore)