Saturday, September 20, 2008

Don't Wait Too Long to Become an Entrepreneur

There was a good post recently on Harvard Discussion forums. Noam Wasserman initiated a conversation on 'when is the perfect time to become an entrepreneur' . He talks about the challenges faced by people transitioning from being big-company employees to becoming entrepreneurs.

His advise : Waiting for the "perfect time" to make the jump is usually futile, for there's no moment that's truly perfect. So even if you're early in your corporate career, when a winning new-business idea comes along and sparks an entrepreneurial passion in you, carpe diem.

I think the best or right time is when you see a right opportunity...time doesn't matters . I was reading a report on "India business houses -Family Fortunes" by a leading equity brokerage firm. Of course the names were obvious-Tata, Birla, Premzi, Mittal, Ambani , Aggarwal(Vedanta), Goenka(RPG), Singh(DLF) etc . The common points across all success stories were :
(a) Ability to identify opportunity well ahead of others;
(b) Effectively using leverage (OPM);
(c) Appetite for risk;
(d) Perseverance -not giving up in the face of difficulties ; Passion.

In fact none of them went for money..they all created solutions to help millions ( and in the process made their fortune!).

Sanjeev says " ...Entrepreneurship is about freedom, creating, a chance to build a brand, an institution, showing the world a new way of doing something, being your own boss, creating a legacy that will outlive you, identity, making a difference, obsession, ego, having a shot at something big, doing what you love, innovating, doing things your way…….."

He sure knows his stuff .

Ofcourse there is no harm making your billions while helping others. Profits are certainly better than wages! whatsay ? ..keep you ideas flowing

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