Entrepreneurship Questions / Answers
Entrepreneurship is considered a concept that allows one the personal independence to dwell into one’s desires. Following the path founded on the skills is not an easier task. You have to give up a number of things just for the sake of satisfying the entrepreneurial sense prevailing in you. This isn’t always a task deemed so easy.
The main reason behind this is the inability to interpret the concept fully in its complete spirit. A number of entrepreneurs find it difficult to set the starting point of their journey. For them, everything is full of twists and turns, and sticking to one particular way seems nothing but a tremendous task involving a hell of amount of effort.
Questions about Entrepreneurship
Most often when entrepreneurs are unable to get the basics of the field, their immediate response is raising questions. Some are logical while many are illogical explaining their problem within the field. However, the good thing is that their minds are active enough to pose the questions which trouble them a lot.
Interestingly, many entrepreneurs have the same type of questions taking us to an assumption that almost all the entrepreneurs, no matter the difference of their industries, at some point come closer to the issues which are similar and have the same point of origin.
The best thing is to take a look at all such questions and in an attempt to eliminate these, they need to be tackled easily based on logic in a way that helps entrepreneurs understand the flaw and its solution both at the same time.
An Attempt to Answer
In this article, we have listed some of the problems that are most common among entrepreneurs of all ages. In addition to this, we have also listed the possible answer for each question in the best way we could. If still, the thirst remains unquenched, we offer you guys an advance apology because these questions and answers are right from the desks of the experts. Hence, you can find the validity all by yourself.
Cutting this long story short, let’s begin with some of the most pinching questions posed straight out of the entrepreneurial grounds.
What is the criterion for setting up a successful startup?
Ans. The nature of this question is pretty much similar to finding out the criteria of staying alive. We can draw a parallel between both. When we say that a startup is organic. It means so. Just the way an individual grows slowly by avoiding risks or coping up with them in the right manner at the right time, the startup exhibits this very property.
You have to be diligent enough if you want to earn success with your hands. You can never blame the trends or the market rivalry because it will always stay there. You can never avoid them or can hope to avoid them because without facing the real-world challenge, you would never be able to survive in the real business world.
A successful startup creates more opportunities in the end. This is only possible through growth and growth needs hard work and complete market understanding. Not only this, the decision-making power is a very big factor in your way to ensure success.
How long do I need to try till I get successful?
This question is common to most entrepreneurs who desperately want to get success in no time. The answer is quite interesting because it depends on the type of business plan you have. If your business plan is a unique and practical one, your efforts will let it grow in no time.
The biggest example is Uber. However, if you are just trying to stay in the common lot and are not committed to doing something out of the ordinary, you can never ensure success because the demands of the market are varying and everyone needs to come across an idea that seems life-saving but in a life-changing way.
Who can be an entrepreneur?
Perhaps, this question is the one that most commonly passes through the entrepreneurial sites and blogs where people are confused about this very entity of entrepreneurship. There is a myth that anyone with enough resources to support the venture can be a good entrepreneur. However, this is a false concept because the reality is the opposite.
Anyone who has the idea of his/her inner skills has effective communication power and command over ideas can become an entrepreneur. But, in addition to this hard work that would last forever is requisite. So, if you have all these qualities, you can easily become an entrepreneur.
How to sort out resources?
Entrepreneurship is possible without good supporting resources. You must have an idea of providing your venture monetary or additional support through the resources you have sorted right from the beginning. Unfortunately, a number of entrepreneurs do have the idea but lack of enough resources hinders their path.
The easiest solution is through social media calls.
You can display the possible outcome of your idea in a model form, explaining it to those who are unable to understand it the way you do. After this, you can crowdfund or approach the firms which back the entrepreneurs.
As compared to conventional times, resource assortment has become easier because of the growing eminence of entrepreneurship. Various incubation centers provide you with all that is essential for your project.
How can I identify and create opportunities all by myself?
One of the biggest goals of entrepreneurship is to identify opportunities at first, then avail them and afterward create more opportunities. A number of entrepreneurs are often stuck at this basic differentiation. The identification of opportunities is quite easy. There are various organizations that provide resources enough to support a business plan or you can find that there is a lack of a certain object from the market that will be very significant later on.
These are the kinds of opportunities for which you are looking for. You are looking for just a chance to prove your worth and this way you recognize them. This doesn’t end here but once you are set in your business venture, you have to make a place for others.
You have to become the initiator of promoting skills and creating new areas of entrepreneurial business with the help of other entrepreneurs who have the skills to prove them.
Are entrepreneurial courses, books, blogs, and articles any helpful?
Yes, they are. All these sources of information are very effective and the course gives you a better insight into entrepreneurship so that you can stop taking it just as a concept. Once you are opening the pages of books or skimming through the articles, many new things come into your knowledge. You master many new skills solely on the basis of this inspirational motivational literature.
Can entrepreneurship turn you into a millionaire?
While I was researching for the article, I came across this very strange question which seems funny at first but is posed with the right town. A number of people have this false idea that entrepreneurship is nothing but the act of making you the richest of all.
Well, part of it is true because your life standards get changed with the passage of time however the millionaire journey is not an easy one. You have to work a lot to attain what you want and the truth is with time, things eventually get easier for you than they were previously.
Is entrepreneurship a safe thing to handle?
The term “safe” has a very wider approach. In entrepreneurship, risks are essential. You can never expect to propagate if you are not daring enough to take the risks. Those who play safe can never make it till the end because the business world is furious to attack and take every possible thing under its flow.
So, if you are fretting over safety, then you can never know what might be lying at the next turn of your journey because every twist over here is different than the previous one.
Is training necessary for entrepreneurship or can I simply start over?
Training is just an additional component to give you better field experience. It never means that you cannot become an entrepreneur until you don’t have the “professional training” for it. This isn’t the case.
The sole purpose of entrepreneurial training is to give you on-field experience so that you can cater to the needs of the market exactly at the right moment with a better strategy. When you are trained, you already have an idea about the phenomenon occurring in the entrepreneurial world, so you can easily come forward and look for possible solutions.
How different entrepreneurship is from a traditional business?
This question is asked by money to myth the bust that, “entrepreneurship is a business”. A number of people often mix the two of them with each other because of the familiar act of setting up the business that works equally in both.
However, it must be remembered that entrepreneurship is different from traditional business because you are employing your personal skills to start a venture, unlike business where resources are the factors responsible for production and growth. Their individual skills are not a necessary requisite, unlike entrepreneurship. Furthermore, in entrepreneurship, you not just look for profit but at the opportunities which are created at the end for some other shining stars.
A Gentle Reminder
All these questions are asked from time to time in a set of alternating patterns because these are considered the most nerve-wracking ones. However, the fact is that no question is difficult to answer or has a difficult path to search for the answer, as long as you don’t try for it. Once you begin seeking the entrepreneurial queries, you will automatically find the solutions and satisfying answers all ready for you.
The author is an M.Phil scholar conducting her thesis in Literature. As a sucker for literature, she swoons over Greek and South Asian fiction while reviewing books in her spare time. Her love for writing has made her expand her subject matter and now she pens her opinions frequently on business, finance, entrepreneurship, lifestyle, history, and literature. For a special connection with entrepreneurship, she opens up the details occasionally about it.