Entrepreneurship

The word “Entrepreneur” first came up in 1723 in French dictionary Dictionnaire Universel de  Commerce compiled by Jacques des Bruslons. Now a days Entrepreneurship is a common word. It is generally referred as process of starting and running a business. With study of factors of production in economics, the term is well stressed on. The 4 factors are 

1. Land 
2. Labour 
3. Capital 
4. Entrepreneurship

With this, the usage of term increased manifold. In modern context the usage of word is quite different. Now a days this is used as synonym of business. However in real context this word has wider coverage. This also covers another term used ‘Startups”. All startups are a part of Entrepreneurship. 
Entrepreneurship is a tough call and requires a lot of guts as the call does not guarantee success and it is full of struggle. But The journey is fascinating as well. A person bets a lot to enter the journey. He might leave job, invests his savings, might take loan, spends time etc. This is a part of risk which entrepreneur takes on. However it is a fact that it might not be successful as well. At times breakeven takes longer than expected, sales do not pick up, banker stand on head for payment, products fail, etc.

So patience and  right financial backup is important. Most of the budding entrepreneurs leave the process within few months saying the process does not pick up. Yes, it wont ! When you start a business it is like a baby born. Baby will grow up, start to crawl, stand, walk and then run. All these takes time. Meanwhile right financial maintenance, growth of sales, control of cost, vendor management, keeping the quality etc are also equally important. It is not a cake walk. It is journey par excellence. Millions start the journey, many quit, many fail, only few succeed. It is like any other field of work. Just like playing cricket. Almost everyone play, very few go to professional game, hand counted reach world cup and only one lift the cup. This is the identical journey. 

Entrepreneurship is art, science and commerce all together. This is bootstrapping in real sense. You have do everything right from opening to closing of office. There cannot be “NO” to anything. This is the way one brand is build. All big things start small. So smaller the start, lesser the risk. Most of the time people make mistake of starting big. Yes, agree the quantum of leap could be huge because of big start. But risk also grows manifold. So it is always better to start small and leap the growth curve. 

Overall entrepreneurship is hard but fascinating journey !