How To Become Entrepreneur In India (A Step by Step Guide)

Neha MukherjeeNeha Mukherjee 01 Apr, 2022
4 min read
Entrepreneur In India

Starting your entrepreneurial journey? Despite procrastinating and checking for inspiration, you need to take some basic steps as defined in this guide below!

“Genius is 1% inspiration, and 99% perspiration.” – Thomas Edison

Running an entrepreneurial journey isn’t as easy and smooth as it may look! And, it’s just impossible for those who desire to walk this road without any process or system in place.
However, this dot com era has made things pretty much more accessible than ever before. So, many new opportunities for starting with an online business especially have geared up.

Being an entrepreneur means being the backbone of the entire system. So, you can’t just be greedy and aren’t required to always think in terms of profitability. Also, you should know the execution process of a newborn business idea to get started as an entrepreneur.

In this guide, I will shed light on an ultimate step-by-step guide to becoming an entrepreneur in India by defining an ‘entrepreneur’.

Who is an Entrepreneur?

As per Google, an entrepreneur is a person who operates and organizes a business or more than one business, taking on greater than normal financial risks in order to do so.

The underlying idea is that an entrepreneur is an innovator operating a business through a business idea while enjoying most of the rewards and bearing most of the risks.

An Ultimate Step by Step Guide to Become an Entrepreneur in India

The most appreciated attributes of a good entrepreneur are energy and determination. Below is your ultimate process or system to help you become an entrepreneur.

1 – Just Rock That Powerful Idea

Business Strategy

I guess an idea is the only one powerful in a business strategy. It’s because the idea gives birth to everything afterward [rewards, recognitions, profits, or even losses]. So, you must put in every single effort to think of your business idea. Do not ever take it based on personal emotions. You need to formulate a solid plan based on good market research, profitability concerns, customers’ pain points, and your passion.

2 – Gather The Right Team

Right Team

At this stage of entrepreneurship, the right teammates can either make or break you. If you don’t know how to hire the actual talent, you can take help from HR (Human Resources professional) but don’t overlook this step just for the sake of proceeding. Good and productive proceedings are always fruitful.

3 – Kickstart Your Startup

Kickstart Your Startup

It’s time to turn ideas into execution with the system in place which is nothing else than a company, or you may call it a startup. First, check for all the formalities to register yourself as a company. Also, look for the types of companies you want to register with.

4 – Funding

Funding

It could be problematic, especially when you don’t have enough initial capital investment. In this scenario, funding is necessary to fuel routine business operations. You need to explore various funding strategies and look for investors to invest a good amount of bucks into your business.

5 – Scale The Startup

Scale The Startup

Treat your startup as a baby who needs good care to grow better. But, you can’t always treat it like a baby. There’s a time to grow and scale your business operations which is undoubtedly a part of your daily routine. However, it’s also important to know your scalability limits. The industry could be scalable but may not get you effective results or even negative output after a certain limit. So, check out scalability carefully!

Thus, becoming an entrepreneur only demands process-based systematic progress of all the steps which have been mentioned in the article. Would you like to share your entrepreneurial journey steps or any hurdles you faced?

 

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