If Power, Fame and Money are your primary goals in life, being an entrepreneur is one of the best ways to achieve your goals. This said, becoming a business person is no cakewalk. There are obstacles to be crossed, days, months and years of patiently waiting to be done. But as the famous saying goes ‘Good things come to those who wait’, your hard work will have sweet benefits.
This is greatest irony of the situation is that being an Entreprenuer cannot be considered a job. Infact, this is the precise reason why people choose to be entrepreneurs because they do not have to work under anyone or work for anyone. If you have a dream of your own, a product to sell or just an idea to sell from which people could benefit immensely, being a business person could lead you into the path of success. The best thing about being an entrepreneur is that the options are unlimited. You could engage in a small business that serves a closely knit community or engage in a business that has the potential to target consumers at a global level.
Entrepreneurship involves being a leader and manager at the same time. Sometimes, it might also be necessary to take up the tasks performed by the employees in the lowest level of the hierarchy to succeed in business. An entrepreneur comes up with business plans, arranges for finances, and convinces lenders, consumers and fellow businessmen that he/she is credible for doing business with. A business person needs to make sure that the marketing for his business is done in a manner that it reaches his targeted customers and contributes effectively in increasing his sales. Apart from making sure that the business is running successfully and there is considerable profit and growth, an entrepreneur also needs to make sure that the employees are managed well in terms of monetary compensation and work satisfaction.
An entrepreneur needs to constantly come up with schemes to enhance and improve the business. He/she needs to be ready to handle losses and recuperate so that the business doesn’t shut down. In short, to be an entrepreneur a person needs to know how to manage crisis, needs to be a strategist, a team player and a boss, all at the same time.
Although there are several businessmen who have succeeded in business without any formal education, the competition in the field now demands prospective entrepreneurs to be as competitive as possible. Many entrepreneurs of today have left their cushy jobs and started on their own ventures. Here are some courses that might prepare you to face the corporate world fully equipped:
(1.)PG Diploma in Management- Business Entrepreneurship
(2.)Advanced Diploma in Enterprise Management, Duration: 6 months, Eligibility: Graduation, preferably with work experience of 5 – 10 years.
(3.)Certificate Course in Export Marketing, Duration: 4 months, Eligibility: Graduation
(4.)Certificate Course in International Trade Logistic, Duration: 4 months, Eligibility: Graduation.
(5.)Diploma/Certificate Courses in Entrepreneurship, Duration: 6 months- 1 year, Eligibility: Graduation/ Diploma/10+2 with 3 yr. Exp.
(6.)Diploma in Entrepreneurship, Duration: 9 months, Eligibility: Graduation
(7.)Diploma in Planning and Entrepreneurship, Duration: 2 years, Eligibility: 10+2
(8.)Executive Masters in International Trade, Duration: 1 year, Eligibility: Graduation (9.)Executive Masters in International Trade, Duration: 1 year, Eligibility: Graduation
(10.)Executive Postgraduate Program, Duration: 3 years, Eligibility: Graduation (55%)
(11.)Executive Postgraduate Diploma in Management, Duration: 3 years, Eligibility: Bachelor’s/Master’s degree with 5 years exp.
(12.)PG Diploma in International Business/Entrepreneurship/Small Business and Management of Services
(13.)PG Diploma in Management of Small and Medium Enterprises, Duration: 1 year, Eligibility: Graduation
(14.)Postgraduate Diploma in Entrepreneurship Management (PGDEM), Duration: 9 months, Eligibility: middle level executive
(15.) PGDEM, Duration: 6 months, Eligibility: Graduation.
Admission process: Entrance exam followed by aptitude test and a personal interview. EDI also accepts scores of exams like XAT, MAT and CAT instead of entrance examinations. Information regarding the application process could be found at www.ediindia.org or www.ediindia.ac.in and the other respective websites of the institutions to which you wish to apply. Online applications are also possible. It is advisable to read the information booklets of the applying institutes to gain thorough and exact knowledge of the application process.
XLRI charges Rs 60,000+ 12,000 for books and around 45,000 for boarding for its six months program.
Those aspiring to become entrepreneurs can enrol themselves in both short term and long term courses according to their convenience and what they are looking for. Here are details of some of the prestigious institutes in India that offer courses for future entrepreneurs:
(1.) Entrepreneurship Development Institute of India, Ahmedabad offers Full Time PG Diploma in Management- Business Enterpreneurship and Distance Learning Diploma in Enterpreneurship and Business Management.
(2.) IIM Ahmedabad, IIM Bangalore & IIM Kolkata, IIM Lucknow all have centres for entrepreneurship development.
(3.) SPJIMR Bhartiya Vidya Bhavan Mumbai offers Start your Business course and Grow your business Course also offers Family Business Management course over weekends.
(4.) IIT Delhi Offers certificate course in enterprise management.
(5.) National Science and Technology Entrepreneurship Development Board,New Delhi
(6.) National Institute for Entrepreneurship and Small Business Development (NIESBUD), New Delhi, 6 months course.
(7.) Management Development Institute,Gurgaon, Haryana
College of Vocational Studies, ( NAAC A Grade) University Of Delhi offers BA Vocational Studies Small and Medium Enterprises. There are 50 seats in the course and the admission is on the basis of entrance exam.
St Joseph’s College of Commerce ( NAAC A Grade) ( Autonomous college ) Banglaore Offers BBA Entrepreneurship.
Candidates passing out from the above mentioned courses have opportunities to start their ventures and for placements in companies as business analysts, sales managers, marketing managers etc. If you start a business on your own the money depends entirely on the success of the venture. While if you take up a job after these courses you can begin with a starting salary of at least Rs 4, 000, 00 per annum. However, this varies widely depending on the employer, location and the post.
One of the best examples in this case would be Steve Jobs, ex CEO of Apple who started his company in a garage and went on to cross many hurdles to become one of the world’s richest and famous businessmen.
In India, we have got the founders of Infosys, Mr.Narayanamurthy and Mr.Nilekani, who started their venture as a start-up and made it one of the best managed companies in the Information Technology sectors. One of the best and recent examples are Sachin and Binny Bansal who were IIT graduates and worked for Amazon. They started Flipkart in the year 2007. The success of this venture need not be stressed, given how many people make use of their convenient online shopping method to buy books, electronics and many more products. Dhirubhai Ambani, who left the Reliance legacy for his sons, is a fitting example of someone who started from scratch and made it to the top.
A typical day in the life of an entrepreneur would consist of meetings with prospective clients, fellow businessmen, lenders etc. It might also consist of meetings with employees from different departments regarding sales, marketing, research etc. An entrepreneur requires to make tough decisions throughout the day regarding every operation of his business and company. This is the most important task of a business person. An entrepreneur would also have to engage in a lot of administrative tasks or overlook them to make sure that there is no discrepancy in the company database whether its related to finance or any other aspect of the business.
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