This document discusses common reasons why entrepreneurial ventures often fail for beginners. It notes that while entrepreneurship offers great possibilities, it also carries risks if not properly understood. Some key reasons for failure include losing focus on one's entrepreneurial dream due to job and family responsibilities. Additionally, entrepreneurs may fail by not properly deciding on a business idea and industry from the start or by not gaining relevant work experience before launching their business. The document provides a strategy for successful entrepreneurship, which involves thorough planning, market research, gaining industry experience through jobs, test marketing, and careful consideration before business launch.
2. Entrepreneurship is a way of life that offers unlimited
possibilities to those who truly believe in it and live by it. But
at the same time, entrepreneurship is a way of life that can
totally alter the course of your life if misunderstood.
"Our dreams have to be bigger. Our ambitions
higher. Our commitment deeper. And our
efforts greater. This is my dream”.
Dhirubhai Ambani
3. Starting life as to become an Entrepreneur
1) When student completes his graduation and started
dreaming about to become an entrepreneur
2) When he starts working on his dream first he thinks how to
arrange money to start business and to achieve his dream.
3)Then his mind diverted to start earning money and he focus to his
job what he can do for earning and start forgetting his dream.
4. Failed due to responsibility
Starting 2 year he works as a trainee and unable to save money for his
future, After 2 years his age is around 24-25 and started saving little
amount of money.
Then family starts pressurizing for marriage and he is not able to deny
family and finally married.
Responsibilities grows with age. Then he feels like to have a house for
his family so he need to take loan of around 30-40 lacs.
Now to complete loan his age become 35-40 years. now he forgets his
dream almost.
If still he remember or thinks about his dream so his age not allow to
work and unable to do that much hard work.
Here he fails.
5. Failed due to wrong decision
When he starts his dream to he do not decide everything like product ,
place in beginning.he do job for only learning .
For ex.- He started working in a steel industry just for earning
money.and then at time of starting business, he thinks like I am not
capable to start a steel plant then he starts looking for some other
business ( i.e food processing etc.).
After some time when he starts his business ,he is not successful
because he is not using his previous work experience and learning.
Here he fails.
6. Perfect strategy(According to me)
1) Decide your business profile
Benefits –
a. You will start working your future work in present,because you know
clearly what you want to do.
b. You will concentrate in one place.
2) Now your business profile is decided,Go and meet some experts
realted to your work and visit some inducries according to same profile
Benefits-
a.You will get the confidence for your profile that this profile suits you or
not.
b.You will know everything how to start,where to start and many more
queries.
7. Perfect strategy (contd..)
3) Now Start a job at same business profile
Benefits -
a. To Gaining knowledge
b. making customers relation
c. making a project report
4) Start doing a marketing job at same your business profie and same
place you decided
Benefits-
a. making customer relationships
b. about marketing and consumption of market
8. Perfect strategy (contd..)
5) Start a trading business ( in your company brand name )
Benefit - start a own business without manufacturing unit
6) Start your manufacturing unit if your sell is good
Benefits-
a. by this time you will be 100% confident about your product.
b. You can apply for a loan easily without fear.
c. chances of failures will be very less.
9. The purpose of this presentation is not to scare
you , but rather to alert you and help you
retrace your steps back in the right direction
before your entrepreneurial journey goes up
in flames!
Keep up the spirit.