Category: Entrepreneurship

TOP 5 ENTREPRENEURS IN INDIA 2019

Identifying the top 5 entrepreneurs in India in 2019 is very difficult today. Because an entrepreneurship culture is developing in India widely to create more entrepreneurs.

India has produced number of entrepreneurs who mastered their field of business and become very successful. India is one of the fast-moving towards establishing culture.

Entrepreneurs create jobs they create wealth they create products and services. One way perhaps the most possible way of examining and appreciating the role of entrepreneurs in economic development in India.

LIST OF TOP 5 ENTREPRENEURS OF INDIA 2019

BYJU RAVEENDRAN

BYJU RAVEENDRAN

Byju Raveendran is the CEO and founder of BYJU’S. BYJU’S  is a million students learning Edtech company. Currently valued at 5.7BN Dollars. Byju Raveendran is India’s youngest billionaire and the learning app was launched in 2015 and within the first few months of its launch, more than 2 million students downloaded it. The BYJU’S app is the one who championed think and learn privately limited, this edtech company based in Bengaluru. Google play rated in India this app as the ‘Best Self-improvement’ app in 2016.

VIJAY SHEKHAR SHARMA

VIJAY SHEKHAR SHARMA

Vijay Shekhar Sharma is the founder of mobile payments company Paytm. Sharma is an Indian billionaire businessman. He was ranked as India’s youngest billionaire in 2017 by Forbes with a net worth of $2.1 billion. Sharma has also created Paytm Mall, an e-commerce business, and the Paytm Payments Bank.

SHRADHA SHARMA

Shradha Sharma is an Indian entrepreneur the founder and Chief Editor of Yourstory.com,a media technology platform for entrepreneurs, Shradha is driven to make stories and startups matter.

Yourstory media venture is startups for entrepreneurs. Yourstory has told more than 20000 stories of entrepreneurs and reaches over 10 million engaged readers every month. Yourstory tells stories in 12 Indian language.

RITESH AGARWAL

Ritesh-Agarwal-

Rithesh Agarwal is an Indian entrepreneur, founder, and CEO of OYO Rooms. India’s fastest-growing network of branded hotels offline and online. India’s wide hotel chain. Rithesh started his business career at more than 16,back-packing all over the country, living in budget accommodation to eventually make the idea behind OYO.

TRISHNEET ARORA

TRISHNEET ARORA

Trishneet Arora is an Indian entrepreneur and author, he is the founder and CEO of TAC Security, an IT security company. Trishneet Arora is of an Indian author, who is a cybersecurity expert, an ethical hacker, and an entrepreneur. While blogging he got more about ethical hacki

Why Startups are important for the economic growth of a nation?

There is no doubt that startups are important for economic growth of a nation.  If you have a plan to execute your idea in to startup or if you are running a startup, then you should read this to know how you and your startup can contribute to economic growth of our nation.

The role of startups in economic prosperity is enhancing in today’s world.

One of the main advantages of startups is that it creates new jobs.  Global data shows that startups are creating more jobs in our nation than the large companies or enterprises.

As of now, many of the startups have introduced latest technologies like Internet of Things, Artificial Intelligence, and Robotics etc.

Most of the technology giant companies outsource their tasks to startups now days. It will also help to increase the cash flow of startups.

economic growth

But every startups needs to deliver quality to their consumers in order to sustain their business. Then only these startups will grow and succeed.

So the role of startups is important to our society to develop our nations.  That means it is necessary to develop an entrepreneurship culture in our country for more startups.

Since the number of startups is increasing, competition between them are also increasing. But I would say that, a healthy competition is important for startups and consumers to curate the startup environment.

Main Roles of Startups to increase economic growth

  • Startups will creates more jobs

Yes. If you are going to become an entrepreneur then you can create more jobs. Thus the rate of unemployment in our nation also decreases. So employment creation is one of the main advantage from startups.

  • Creation of wealth

Since entrepreneurs are attracting investors by investing their own resources, the people of the nation would get benefit when startups grow. Since the money is sharing with the society, wealth is creating within the nation.

  • Better standard of living

Startups can implement innovations and technologies to improve the living of people. There are many startups who is working for rural areas to develop the community.

  • Increase in GDP

GDP(Gross Domestic Products) plays a vital role in enhancing the economic growth of a country.  World Bank says that India will become the fastest growing country as economic growth in the world. By supporting and encouraging more startups, it is possible to generate more revenue domestically and consumer’s capital will also flow around the Indian economy.

Startup India Schemes

startup schemes

India is supporting and encouraging startups to stand up for developing our nation. There are many innovative products and services are implementing by young entrepreneurs of our nation. That is why Indian government has announced schemes for promoting startups. Startup India Schemes are helping many budding entrepreneurs to make their dreams come true and also helping to create more jobs from startups. So if you have a startup dream you should aware about the latest schemes and it will help us to boost the entrepreneurial journey.

Conclusion

Startups can change the world and in coming years more and more startups will grow with innovation and creativity. Entrepreneurship is the only way to enhance the economic growth of a nation. And a small idea can be termed into big innovative solution which can change your future. So if you have an idea, don’t block your dreams because of fear of failure and taking risk. Develop your idea into startup and contribute to the growth of our nation. Now we can conclude that startups are important for economic growth of a nation.

What is Entrepreneurship?

Entrepreneurship is really a virtual ship of dreams, passion, positivity, focus, vision, innovation, mindset, hustling, consistency, etc.. If you have a vision to do innovation for a better world rather than giving more priorities to making money is called entrepreneurship. Entrepreneur’s mindset is different from a normal man and has courage to taking risks. With the right focus and mindset, he/she can do much innovative stuff to change this world.

what is entrepreneurshipMost of the people have a belief that, a businessman and an entrepreneur are same. A businessman is someone who is working just for profits and to increase sales of the business. An entrepreneur is a person who has an innovative idea and dare to execute as a service or product. He/she is mainly focusing for a change in the society from their product/service than making money from it.

Entrepreneurship can be classified in to two:

  1. Small Medium Enterprise (SME)
  2. Innovation Driven Enterprise (IDE)

Small medium enterprises are running to make profits and most of them are focusing their market locally. These types of enterprises are called small medium enterprise.

Innovation driven enterprises are running to make an impact with innovation. They are less focusing on money making and they believe that if they deliver a proper innovative solution to a problem, money will eventually comes. This type of enterprises is called innovation driven enterprise.

Do you know what are the characteristics of entrepreneurship ?

An entrepreneur should have some sort of characteristics in order to become successful in any niche. Because entrepreneurship is not an ordinary thing and an average mindset person can’t win in this battle if he/she don’t show some of these characteristics.

* Passion

You have to follow your passion if you really want to succeed. Because when you do what you love, you don’t feel it like stress. If you love your passion and doing it then you can expect a massive outcome. Also you should think about how to solve a problem in the society or something with your passion. You just have to get addicted with your passion and invest your time in it.

* Willingness to take risk

Taking risk is an important factor for being as an entrepreneur. He/she should be motivated them self and should have courage to take risks. Without taking risk, it is difficult to achieve your goals. So you have to believe in yourself first, then only people around you also believe in you and to your dreams.

* Hard work

Without working hard, it is difficult to achieve success. Every successful entrepreneur are hard workers and if you working for your dreams smartly then you can build your empire soon.

* Focus and vision

You must know about your vision and you must have a focus. Then only you can understand what you want to execute for reaching your goals. You should have a clear vision in order to succeed. Focus on your goals and neglect all the negativity surrounded by you.

* Keep learning

Knowledge is the most powerful tool that can be used to change the world. In today’s world everything is updating day by day and it is important to learn new things and be updated with the trends. Wise people invest their time and money to learn things and others invest in non-profitable stuffs. So if you really wish to become a successful entrepreneur, then never stop learning.

* Hope and positive attitude

A positive mindset is essential for an entrepreneur. Because being an entrepreneur, you have to face many negative situations. But if you have a positive mindset in a negative situation, then you will win. Also always hope for good and for the best. Hope is an important factor since it creates positive vibes in every situation.

These are only some main characteristics which is needed for an entrepreneur to become successful. Actually, entrepreneurship is already generated within every person’s DNA. But only few are willing to hunt their goals without any fear.

In our nation, it is important to develop entrepreneurship for increasing our India’s economy. Because India will develop only if we enhance the development of entrepreneurship. But before you think about how to start a business or how to grow your business, you have to figure it out how it will impact in our nation’s growth.

So do you have an innovative idea which can change the world ? Let me know, comment below.

How to start a business in Kerala?

Here you are going to read about how to start a business only because you want a change in your current life right? You wish to become a successful businessman, earn more money, want to enjoy the freedom, live like your own terms in life and all. Most people think only about any sectors which is generating more profits in the current scenario and they copy the same idea. They doesn’t care about their passion, vision, team, market value, location etc .. This is the reason why most people fail in business. Now there are many online business ideas are generating in people mind and it could be become profitable with low investment. It doesn’t matter whether ideas you choose are small ideas or a big ideas. It’s all about execution, focus and consistency.

how to strat a business in kerala

Here is the most important things which you must work out before starting a business

  • Your passion

Always follow your passion. Don’t try to copy others only because they are making profits or running successfully.  You can win in this game, only if you have a small taste of passion in a particular niche you choose.

  • Identify a global problem or local and provide the solution

The best method to provide a service or product is to find a problem which we are facing and provide a best solution for that particular problem. Every business should be a solution provider to their customers.

  • Write a business plan

A plan is an essential factor for any business before it begins. You should plan how you are going to execute your idea and make it working out. You have to answer the following questions

  • What is your business purpose
  • How you planning to solve a problem using your idea
  • Your target audience
  • Location
  • Competitors
  • Investment
  • Team
  • Revenue model
  • Company Registration

A company registration is important to have legal entities. So according to your business and partners you can choose the following business structures.

  • Solo proprietorship
  • Partnership
  • Limited liability Partnership (LLP)
  • Private Limited Company (pvt ltd)
  • Public Limited Company
  • Choose Partners and team

Choosing a business partner is really important and be very careful.  Most probably you would choose your old close friend as your business partner. Sometimes it works, and maybe it will not work. So what matters is your partner should have the same focus and vision as you. Then build a team to support and develop your business and brand.

  • Don’t chase money

This is the stage where most of us are limiting their vision. Many of us expect a lot of profits in return in the beginning stage.  Money will only generate only if you create a value to your target audience. If you chase behind money, you will lose the quality and vision of your service and everything will lose. So show some patience and provide a value to your customers. Money will come back to you if you never give up with consistency.

These are the main thing to remember before starting a business anywhere in the world.  In India, Kerala is the most literate state, but the amount of unemployed people is huge. So entrepreneurship and businesses can create more jobs in Kerala.  Also the consumer mindset of our state is far better and educated. So if you can provide a value to the people, they will surely use your product or services.

So when you start a business, you should always be consistent about your work and provide a quality service. Thus you can build a brand from your business which can be grow globally.

So are you planning to start a business?

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