67 businesses got an investment in Shark Tank India. There were 198 pitches on season 1 of Shark Tank India.
The further breakup includes,
- 59 had founders with no IIT/IIM degrees
- 45 had at least one co-founder below 25 years of age
- 40 had never been funded previously
- 29 had at least one woman co-founder
- 20 were from tier II/ tier III colleges and rural India
- 18 had couples/families as co-founders.
As far as a developing country like India this is a big number for innovation and entrepreneurship.
There was a time when entrepreneurship was not respected and if anyone could imagine entrepreneurship then it would be to open a general store in the local community.
The Shark Tank has only opened a new perspective towards inspiring and cultivating entrepreneurship.
What is Entrepreneurship?
Entrepreneurship is the activity of setting up a business or businesses, taking on financial risks in the hope of profit.
There are only a few who are inspired by these subjects and many ignore them.
It is not a new concept but a concept that no one from the middle class could dare to dream about.
Entrepreneurship was considered difficult and a struggle due to the barriers such as social reach and awareness.
Most millennials were grown with a vision to get a job in an MNCs to gain financial stability and a good lifestyle.
But now, times have changed. Entrepreneurship is taught as a subject in Bachelors in Business Management or BBA degree in many universities in India.
What is inspiring Everyone to begin Entrepreneurship as A Career?
The youth of India is more than 50% of the population.
The gap between the available manpower and no increase in the job opening created a big vacuum of unemployability.
Entrepreneurship became a boon for the unemployed and there came a lot of success stories from those who began it at a young age.
The pro fact that to become an entrepreneur you don’t need any degree but only skills made it a more endearing factor to start a start in a home by many.
What to expect in Entrepreneurship as a career?
The fact that anyone can be an Entrepreneur makes the role more challenging and competitive.
- The role of an entrepreneur is to innovate and distribute. If you have an innovative idea then you must be able to channel it in a way that your innovation is sold.
- Investment is a major factor for survival and if you want to become an entrepreneur you must be able to project your ideas to investors in an influencing manner to attain investment.
- An entrepreneur needs a clear vision and goals which is the solution to the consumer’s needs.
- An Entrepreneur must know the consumer’s needs and employees capabilities.
- Entrepreneurship is a long journey towards success only with strong leadership skills.
- In the whole career of an Entrepreneur, only resilience leads to success.
- Entrepreneurship is just like a game of chess which can up to many hours or only minutes depending on the Entrepreneur’s capacity to be in the game and effective strategies to keep overcoming the hurdles.
5 Skills required to become an Entrepreneur:
- Resilience: There would be very few people who would be there to motivate in the darkest time of the entrepreneurship journey. Learn the skill to become a self-motivator. It requires immense clarity to believe in yourself.
- Communication: You will have to communicate with your team, consumers and investors. All three demand different communication strategies. Learn as much as possible about how to pitch communicate in the most connecting ways.
- Time Management: As an Entrepreneur, you might have to burn innumerable hours to gain the desired results. Simply spending time in the office and doing unimportant tasks can make you lose track of time. Time management makes you focus and be productive. Today you can find success stories of only people who are consistently doing productive tasks.
- Leadership: If you want to be loved by people, you must love those people too. Managing people is hard and leadership is not everyone’s cup of tea. Most entrepreneurs hire a CEO or CFO or MD. They assess the aspect of leadership becomes more crucial as employee retention rates are higher when it is led by a good leader.
- Strategic thinking: Most successful entrepreneurs have a visionary view where they can see the future what others can’t see. In a time when others might feel nothing is working, only entrepreneurs with strategic ability come with action plans to continue.
Today as we can see the surge in entrepreneurship, it also highlights the part that only the ones who kept working were the one’s successful.
Entrepreneurship as a career has multiple opportunities to prove your hard work and capabilities.
Skillz4life wants to support the growth the entrepreneurs in India.
We aim to mentor better entrepreneurs for a successful entrepreneurship journey.
If you are an entrepreneur struggling to build your skills then empower yourself with our leadership and entrepreneurship programs.
We have 3 decades of expertise to share to make a successful future entrepreneur.
Head to our website www.skillz4life. to book your next training program.